The Kirubi family, known for their immense wealth and influence, continues to solidify their position as one of the richest families in Kenya and the wider East African region.
According to court documents from 2022, the late Kenyan businessman and investor Chris Kirubi, had built a diversified empire worth Ksh20 billion ($140 million) before his demise at the age of 80 in 2021.
Renowned for his astute investments and business acumen, Kirubi held significant stakes in various sectors, including media, manufacturing, property management, insurance, and investments, establishing himself as one of the country’s most successful investors. His stock holdings in leading Kenyan companies contributed to his considerable wealth.
As the chairman of multiple prominent companies, Kirubi played a pivotal role in shaping the business landscape of Kenya. His leadership spanned Haco Tiger Brands Kenya Limited, Capital Media Group, International House Limited, DHL Worldwide Express Limited, Nairobi Bottlers, and Smart Applications International Limited.
Following his passing in 2021, Kirubi’s son, Robert Kirubi, and daughter, Mary-Ann Musangi, inherited 80 percent of his vast fortune, while the remaining 20 percent was divided among his siblings. Notable beneficiaries included his brothers Anthony Maina and Michael Kirubi and his sisters Elizabeth Waithera and Salome Mburu.
Billionaires.Africa, has identified and tracked various assets and holdings associated with the Kirubi family. The following are seven companies in which the family holds direct ownership or a controlling interest:
- Centum Investment Plc: Under the astute leadership of the late Chris Kirubi, Centum Investment emerged as a top investment firm in East Africa. It prioritizes real estate and private equity assets in sectors like consumer goods, finance, agribusiness, and power. The Kirubi family currently holds a significant 31 percent stake in the company.
- KCB Group: Chris Kirubi’s broad portfolio includes a minority stake in KCB Group, a prominent financial services conglomerate. KCB Group is the parent company for KCB Bank Kenya, National Bank of Kenya, and various subsidiaries in Tanzania, South Sudan, Uganda, Rwanda, Burundi, and Ethiopia.
- Haco Industries: Haco Industries is a prominent FMCG manufacturer led by the late Chris Kirubi’s family. Established in the early 1970s with a single product, Haco has grown under the Kirubi family’s guidance to become one of East Africa’s leading suppliers of a diverse range of products.
- Bendor Estate Limited: Bendor Estate, situated in Thika, Kenya, is a leading real estate company. In January 2022, the late Chris Kirubi’s investment in Bendor Estate amounted to Ksh5.68 billion ($40.1 million), consolidating the family’s prominent position in East Africa’s real estate industry.
- Bayer East Africa Limited: The Kirubi family, known for their influence in the healthcare industry, has a significant position in Bayer East Africa, a subsidiary of Bayer AG. In January 2022, court documents revealed their ownership interest in Bayer East Africa amounted to Ksh1.8 billion ($12.7 million).
- Capital Media Group: Chris Kirubi’s private investments have led the Kirubi family to have an interest in Capital Media Group (CMG), a renowned multimedia communications company. CMG excels in creating compelling TV, radio, and Web content. Additionally, CMG owns Capital FM, one of Kenya’s highly acclaimed radio stations.
- International House Limited: Founded in 1985 following the acquisition of International House from the Queensway Development Corporation, International House Limited is a respected property management company. In recent years, the company has grown its portfolio to include residential properties such as Shanzu Gardens in Kyuna, Avocado Villas near Brookside Grove, and Riverside Court on Riverside Drive.
