Many have claimed Uhuru Kenyatta is Africa’s richest president with
an estimated net worth of over $500 million. Most of his wealth is
under his family name. In 2008 the then Kenyan Deputy Prime Minister
Uhuru Kenyatta makes the Forbes list of Africa’s 40 Richest due to his
family’s vast Kenyan landholdings and a variety of businesses including a
dairy.
So what does Uhuru Kenyatta and family really own?
1. LAND
The Kenyatta family owns very large
pieces of land thanks to the late first president of Kenya, Jomo
Kenyatta. The land is around 500,000 acres of prime land in various
parts of Kenya. Most of it is under large scale farming
2. HERITAGE HOTELS
Heritage Hotels has many hotels and recreational facilities under it. They are:
i) Great Rift Valley Lodge
This is a prestigious hotel located 24km from Naivasha town. Most
politicians and upper class people frequently visit the place. It has an
18 hole championship golf course, its own airstrip and a perfect view
of nature. You will also find swimming pools, cycling/jogging paths,
tennis courts, restaurants and if you are a fan of bush breakfast, you
will get some here.
ii) Camps
Mara Explorer, Voyager Ziwani, Samburu Intrepid, Mara Intrepid.
iii) Beach Hotels
Voyeger Beach Resort in Mombasa and Kipunguani Explorer in Lamu
3. BROOKSIDE DIARIES
Brookside acquired Molo Milk brand for ksh1.1 billion and this led to
the company having a market share of around 55 per cent of the milk
market in Kenya. The company is expanding into Ethiopia by wanting to
acquire 20 per cent of Elemtu Diary. It is also trying to set foot into
Nigeria, the most populated country in Africa with a population of
around 150 million people. Brookside also owns Tuzo and Ilara.
4. COMMERCIAL BANK OF AFRICA. (CBA)
This is a mid-tier bank in Kenya mainly focused on corporate banking
and banking for the high net worth individuals in Kenya. The bank plans
to expand into 10 different markets such as Malawi, Botswana and Rwanda.
Its asset base is over sh100 billion. It launched a joint micro-loans
and savings service with Safaricom and M-Shwari.
5. MEDIAMAX GROUP
The Kenyatta family have also set foot in the media industry through
Mediamax Group which owns K24 TV, Kameme FM and The People Daily. They
do through have a small market share.
OTHER VENTURES
Some of the Kenyatta family businesses are kept secret away from the
public eye. The family has been linked to Beta Healthcare
(Pharmaceutical firm), Timsales Holdings (Timber firm), commercial
buildings, Peponi school (school for the high net worth families in
Kenya. They charge as high as ksh620,000 per term for each child),
Chartis/AIG insurance and many other ventures.
source:Africa Cradle
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