Royal Media Owner SK Macharia May Replace Uhuru Kenyatta in the Forbes List of Richest Africans
From next year, media mogul SK Macharia will be the latest Kenyan entrant in the Forbes List of Africa’s top 40 wealthiest people. This comes after Deputy Prime Minister failed to make it in this year’s list having come 26th in last year’s list.
The Royal Media Services (RMS) chairman was named by Forbes Magazine as one of the African millionaires to watch in 2013 alongside other nine individuals who are considered the most influential in business. SK Macharia’s wealth is drawn from his media outlet which boasts 12 plus radio stations and the leading TV station in Kenya, Citizen TV. The big shot has also invested vastly in the real estate, transport, insurance, telecommunication and banking sectors. This means SK Macharia’s fortune may be something slightly below $400 million because the 40th richest man this year sits on a treasure worth $400 million.
Uhuru was struck off the list because “of uncertainty over who in his family is the chief custodian of the vast land holdings” according to Forbes. The properties in question include; 500,000 acres of prime Kenyan land, along with other assets such as a stake in the Commercial Bank of Africa, a dairy company and a television station. Another Kenyan tycoon who did not make it into this year’s list is Chris Kirubi who was ranked 31st last year.
The only Kenyan on the list now is Naushad Merali, the businessman behind Sameer Group of Companies. The multinational firm is the parent company of Commercial Bank of Africa, Sasini Tea and Coffee Limited, Kenya Data Networks (KDN) among many others. This essentially makes him the richest man in Kenya if Forbes stats are anything to go by.
