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Monday, January 17, 2022 – A new report has listed the five richest people in the country who have more wealth than millions of Kenyans combined.

According to the report by Oxfam International released today, the five – individuals and families – control more wealth than millions of Kenyans from across the country.

Sameer Naushad Merali, who is the son of the late billionaire Naushad Merali, is listed as the richest individual in the country sitting on a fortune of Ksh89.6 billion (USD790 million).

Merali is followed by Bhimji Depar Shah, who founded Bidco Group of Companies and controls a fortune of Ksh85 billion (USD750 million).

Other rich people in the top five category in the country are textile manufacturer Jaswinder Singh Bedi with a wealth of Ksh77.1 billion (USD680 million), President Uhuru Kenyatta (and in extension the Kenyatta family) whose wealth stands at Ksh60 billion (USD530 million), and Mahendra Rambhai Patel with Ksh48.7 billion (USD430 million).

“The two richest people have more wealth than 16.5 million Kenyans.

Most of Merali’s wealth is from real estate, manufacturing and banking sectors among other money-maker projects.

Sameer’s father still holds a record of making as much as Ksh1.6 billion in just an hour from a smart business transaction.

On the other hand, the Kenyatta family, who have been dominating the rich people list, have investments across diverse markets including banking, manufacturing, processing and telecommunication among others.

The Kenyan DAILY POST

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