7 companies owned by Kenya’s second-largest landowner, Moi family

Omokolade Ajayi -

The family of Kenya’s second and longest-serving president, Daniel Arap Moi, Kenya’s second-largest landowner with nearly 300,000 acres of prime real estate, has made significant investments in various sectors, including banking, oil, insurance, hotel and tourism, media, manufacturing, and airline.

Among their holdings, they maintain majority ownership of Standard Media Group, which includes Kenya Television Network, newspapers, and radio stations, showcasing their substantial financial strength, with an estimated wealth exceeding $3 billion.

In 2021, the Moi family divested a 51-percent stake in Nairobi-based logistics and aviation handling firm Siginon Aviation Limited to National Aviation Services for Ksh1.7 billion ($15.2 million), while retaining a 12-percent shareholding in the broader Siginon Group.

Besides their involvement in the energy sector, the Moi family’s vast land portfolio of nearly 300,000 acres ranks them second only to the Kenyatta family in terms of landownership in Kenya. Their media empire also encompasses a majority stake in Standard Media Group, comprising the popular television network Kenya Television Network, newspapers, and radio stations.

Unofficial estimates suggest the Moi family’s wealth surpasses $3 billion, attesting to their substantial financial resources. In addition to their financial holdings, the Moi family’s vast land portfolio in Kenya boasts a robust valuation that amounts to hundreds of millions of dollars.

Beyond their significant financial and land assets, the Moi family wields substantial influence across various sectors, actively shaping Kenya’s socioeconomic landscape and contributing to the nation’s progress and prosperity.

Billionaires.Africa has identified and monitored seven assets owned by the Moi family:

  1. Standard Media Group
    At the helm of Kenya’s media landscape, the Moi family owns a significant stake in the renowned Standard Media Group, a powerhouse in national and international affairs. Their extensive media investments span newspapers, television, radio broadcasting, digital platforms, and online services. Notable holdings include The Standard newspaper, KTN, KTN News, and Radio Maisha, along with other esteemed assets such as Kenya Television Network, Standard Newspaper, Vybez Radio, Spice FM, Rowland Printing, and Baraza Limited.
  2. Siginon Group
    The Moi family’s ownership of Siginon Group solidifies their position as key players in Kenya’s logistics sector. With over three decades of industry experience, this conglomerate manages a vast array of subsidiaries including Siginon Global Logistics, Siginon Aviation, and Siginon Freight Holdings. Their ownership extends to entities such as Kent Ship, Maritime, Eagle Airlines, Kenya Aerotech Ltd., Car Track Kenya Ltd., and CMC Holdings.
  1. Moi Educational Foundation
    The Moi Educational Foundation reflects the family’s commitment to education. They own and support prestigious institutions like Nairobi’s Sunshine National School, Kabarak University, Kabarak High School, Sacho High School, Moi Educational Center, and the Moi Africa Institute Kabarnet Gardens. These institutions are part of the late Daniel Moi’s enduring legacy, which includes Moi Educational Center, Kabarak High School, Kabarak University, Sunshine Secondary Schools, and Sacho Primary and Secondary, among others.
  1. Standard Chartered Bank Kenya

Through Kabarak Limited, the Moi family possesses a 1.03-percent stake in Standard Chartered Bank Kenya Limited, a licensed institution under the Central Bank of Kenya. This strategic investment aligns with their global financial interests, as Standard Chartered is a British multinational financial conglomerate headquartered in London, United Kingdom.

  1. Sosian Menengai Geothermal Power Limited
    The Moi family’s commitment to renewable energy is evident through their involvement in Sosian Menengai Geothermal Power Limited. Supplying 22 megawatts of power to Kenya’s national grid, this venture exemplifies their dedication to sustainable practices. Gideon Moi’s initiative to repurchase a majority stake in Sosian Menengai Geothermal Power from the Devki Group underscores their commitment to family assets. The plant, established under a 25-year Build-Own-Operate (BOO) agreement with Kenya Power, is poised to generate 35 MW of net geothermal power, with Kigen Moi, a scion of the family, serving as a director.
  1. Siginon Aviation Limited
    Siginon Aviation, with two decades of experience, is a trusted name in air cargo, ground, and ramp handling. In 2021, the Moi family divested a 51-percent stake in Siginon Aviation Limited to National Aviation Services for Ksh1.7 billion ($15.2 million), while retaining a 12-percent shareholding in the broader Siginon Group.
  1. Real Estate Portfolio
    Beyond their corporate endeavors, the Moi family has made significant inroads into real estate, with ownership of various real estate companies, including Sielei Properties Ltd., Chester House, Mugoya Construction, Regent Management, Paradise Holdings, Homestead Enterprises, Gateway Properties, and Courtyard Property Investment. Their residential footprint extends to homes in Lavington House, Karen Residence, Nakuru Residence, and additional property interests in South Africa.