A report by Oxfam International has revealed the 5 richest families in Kenya and an estimation of their worth, further showing the wealth inequality in Kenya.
For years, the family of President Uhuru Kenyatta was said to be the wealthiest but the new report shows that they have been dethroned.
In the report, published by a local media Sameer Naushad Merali and his family are said to be worth Sh89.5 billion to hold the top spot.
A close second is the family of Bhimji Depar Shah which is said to be worth Sh85 billion.
Naushad Merali was the patriarch of the Merali family and died in July 2021 leaving his wealth under his son Sameer.
The family is involved in real estate, telecommunications, manufacturing and banking.
Bhimji Depar Shah, is a Kenyan businessman, industrialist and entrepreneur. He is the founder and current chair of BIDCO Group of Companies, a Kenya-based, family-owned manufacturing conglomerate with businesses in 13 African countries.
In 2015 Forbes reported that he was worth Sh79 billon, which has now increased to Sh85 billion.
The family of Jaswinder Singh Bedi was listed third by Oxfam with a net worth of Sh77 billion.
Mr Bedi is a renowned industrialist in Kenya, a leading exporter, international trade negotiator and operative.
President Kenyatta was ranked fourth with an estimated Sh60 billion, though Oxfam clarified that his wealth was tied to his family’s assets.
The Kenyatta family owns stakes in a variety of industries, including banking, milk processing, transportation
media, hotel, and land development.
Closing the list at number five is the family of Mahendra Rambhai Patel wich is worth Sh48 billion.
The family owns Ramco Group, a conglomerate with interests in print, hardware, manufacturing, office supply and property sectors.
Sourced from Pulse live