Activities and performance at the Nairobi Securities Exchange over the period have also rearranged Kenya’s listed wealth rankings, bringing in newcomers and kicking out some big names. The 12 investors saw their wealth increase by between Sh100 million and Sh8.2 billion over the period. Among those whose year has turned out fabulously well is former president Daniel arap Moi.
In the 12 months ending June 27, this year, Moi’s publicly listed wealth grew by Sh335 million. The former president’s wealth is invested in Standard Group and Stanchart Bank.
In Standard Group, where he holds 56.4 million shares, his wealth grew by Sh239.7 million to Sh1.8billion from Sh1.57 billion on June 27 last year. In Stanchart where he holds 3.17 million shares, his wealth grew by Sh95.5 million to Sh985 million from Sh889 million last year.
Yet the fortune that the former president harvested has only placed him no higher than second last in the list of 12 top gainers. Equity Bank’s chairman Peter Munga also got a tidy harvest from his shares in the bank and Britam. At the last count, the value of his shares in the two companies had increased by Sh965.6 million to Sh2.17 billion from Sh1.505 billion.
Serial entrepreneur Naushad Merali’s wealth is invested in Sameer Africa, Sasini Tea and Coffee and Eveready. Merali’s stocks have been bullish, earning him Sh882 million. Last year, the shares were worth Sh3.15billion but have increased to Sh4.02 billion. Then there is the estate of the late Philip Ndegwa which raked in Sh344 million from shares held in NIC Bank. The value of the shares grew to Sh4.9 billion from Sh4.6 billion.
A new-comer in the big hitters list is former Tetu MP FT Nyamu. Nyamu is the biggest individual shareholder in publishing firm Longhorn. The value of his 14 million shares grew by Sh112million to Sh238 million from Sh126 million. Co-op Bank managing director Gideon Muriuki’s wealth grew by Sh236 million to Sh1.47billion from Sh1.95billion.
Muriuki, the biggest shareholder in the bank, holds 77.4 million shares. But things have not been that rosy for former Trade minister and Kanu power man Nicholas Biwott. His
shares in biggest listed oil marketer KenolKobil have continued to shed off value following the company’s big loss two years ago.
In the last 12 months, the value of the shares has dropped by Sh220 million from Sh5.6billion to Sh5.4billion. Acquisition of motor dealer CMC by Dubai billionaire Abdullah Al-Futtaim has kicked out other big monied names out of the big hitters. These include former East African Breweries chief executive Jeremiah Kiereini and former Attorney General Charles Njonjo.
Others who have exited the top hitters list on account of CMC are the owners of logistics firm, Andy Forwarders, Peter Muthoka and a duo popularly referred to as the Mobicom duo. Mobicom duo comprises business partners Paul Wanderi Ndungu and Joe Kibe who made their big money through Mobicom, a mobile phone product. In terms of listed net worth, Mbaru has overtaken Merali.
Last year Mbaru, who is valued at Sh4.6 billion, was worth Sh2.6 billion while Merali, currently valued at Sh4.02 billion, was worth Sh3.15 billion last year. Wairegi and Shah on the other hand have forced Gideon Muriuki down the ranks. Last year the three, who are currently valued at Sh1.9billion and Sh1.86 billion respectively, were worth Sh961 million and Sh697 million while Muriuki who is currently worth Sh1.435 billion was valued at Sh1.195billion