The majority of Kenya’s wealthiest enterprises are private businesses that rely only on ICT to generate daily revenue. They also have some of the most profitable industrial enterprises, such as EABL.
In this article, let’s take a look at Kenya’s top ten wealthiest corporations. These are businesses that have significantly improved Kenya’s economic prospects.
These are businesses that have been generating significant cash for Kenya and ensuring that Kenyans have a place to earn their daily bread.
Safaricom – Richest Company in Kenya
Safaricom PLC is a publicly traded Kenyan mobile network operator with headquarters in Nairobi, Kenya.
It is Kenya’s largest telecommunications operator and one of East and Central Africa’s most lucrative corporations.
Safaricom achieved a net profit of 63.4 billion at the conclusion of the fiscal year 2019, up 14.7 percent from the previous year.
East African Breweries Ltd
East African Breweries Limited, or EABL for short, is a Kenyan holding business that produces branded beer, spirits, and non-alcoholic beverages.
Andrew Cowan, the managing director, is in charge.
EABL is one of Kenya’s wealthiest firms, with net revenue of 82.5 billion dollars in fiscal year 2019, up 12% from 2018.
Kenya Airways Ltd., or simply Kenya Airways, is the country’s flag carrier airline.
Following the demise of East African Airways, the company was created in 1977. Their headquarters are at Embakasi, Nairobi, with Jomo Kenyatta International Airport as their hub.
It is one among Kenya’s top 20 wealthiest corporations, with assets of more than $160,000 million.
Kenya Commercial Bank
KCB Bank Kenya Limited is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the national banking regulator.
As per the last year 2019, KCB Bank hit a net profit of 12.7 billion thus one of the richest companies in the country.
Nation Media Group
The Nairobi Stock Exchange lists the Kenyan media group Nation Media Group. NMG, created by Aga Khan IV in 1959, is East and Central Africa’s largest private media firm, with offices in Kenya, Uganda, and Tanzania.
NMG launched NTV, a Kenyan news station, and Easy FM in 1999.
Despite a 24 percent drop in net profits last year, NMG remains one of Kenya’s top 20 wealthiest corporations.
Britam – Richest Insurance Company in Kenya
Britam Holdings Limited, originally known as British-American Investments Company, is a diversified financial services organisation that is listed on the Nairobi Securities Exchange and is regarded as Kenya’s best insurance company.
Britam Insurance, British-America Assets Managers, Britam Properties Ltd, and others are among its subsidiaries. Kenya, Uganda, Tanzania, and Malawi all have branches.
Britam made a 2.4 billion profit in the first half of 2019, making it one of Kenya’s best-paying private enterprises.
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Royal Media Services
SK Macharia, a businessman, owns one of Kenya’s largest media conglomerates.
Citizen Tv, Inooro Tv, Citizen Radio, Hot 96, and a number of other local radio stations are all owned by the corporation.
Royal Media Services is one of Kenya’s wealthiest private enterprises, with one employee, Jeff Koinange, earning Ksh 2 million a month.
Deloitte – Largest and Most reputable firm in Kenya
Deloitte is one of Kenya’s largest and most recognised firms. It provides audit and assurance services, as well as financial and risk advice, consulting, and tax services.
It has also been included among Kenya’s top 20 wealthiest corporations.
Deloitte’s net profit ratio was 2.7 percent in 2018.
Kenya Power and Lighting Business, or KPLC, is a Kenyan limited liability company that transmits, distributes, and retails energy to customers across the country.
For the year ending 30 June 2019, the Company made a profit before tax of Kshs. 334 million.
Bamburi Cement Limited is a cement and concrete manufacturing firm based in Kenya. The company is based in Mombasa’s Bamburi area, with a Nairobi headquarters, and its stock is traded on the Nairobi Securities Exchange.
With about 50 billion in assets, this is one of Kenya’s top 20 wealthiest firms. For the first six months of 2019, the company had a profit of Ksh 300.