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Top 10 Richest Companies in Kenya

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We prepared for you the list of most richest companies in Kenya.

Kenya is well known to be one of the richest and very important players in East Africa.

It is an undeniable fact that Kenya is growing fast each year. As of 2019, Kenya had an approximate $95 billion GDP.

There’s many local and foreign investors coming from different companies who made investments in the region due to its investment-friendly status.

With its industries ranging from agriculture, forestry and fishing, mining, energy, tourism, and financial services. It is a given fact that the country is increasing its economic growth.

With so many companies in the region, you might wonder what companies are the richest?

Here are the top 5 richest companies in Kenya:

Kenya Commercial Bank

Commercial Bank of Kenya also known as KCB Group Limited is call the largest and richest commercial bank in Kenya since 2015 and it is still holding such position until now.

It’s around total assets of equating to $4 billion. And customer deposits also estimate to $2.5 billion.

The company is established in July 1896 and is known as one of the most loyal and richest banking companies in Africa.

With the growth, they have expanded and have their own KCB Companies in Kenya, Burundi, Rwanda, South Sudan, Tanzania, and Uganda.

In Kenya alone, they have an estimated 250 branches as of 2018. Being one of the richest banking companies, they offer financial services to corporate and individual clients.

Hence, Kenya Commercial Bank is on the list under NSE or Nairobi Securities Exchange. 

Equity Bank

The company was formerly the Equity Building Society (EBS) built-in October 1984.

Equity Bank’s transformation into a rapidly growing micro-finance and then a commercial bank is truly an inspirational success story.

In 2016, the bank was dub as the richest and fastest-growing banking companies in Kenya. And in Africa by the Banker Top 1000 World Banks.

Reinventing itself in response to the needs and demands of the market in Kenya. The bank is also call the richest and the digital bank in Kenya by the Banker Awards in 2017. 

Equity Bank started as one of the microfinance banking companies in Kenya which started off with about 50,000 customers.

But now it has 14 million customers all across the perimeter, making it one of the richest banking companies.

Equity also pioneered lending on the mobile phone since most of our users are digital natives and using their devices.

Right now, only 10% of the Equity’s transactions happen at the branch and 90% of what happens in an ATM.

Equity Bank’s assets can approximately estimate at around $3 billion ant its shareholders’ equity runs around $600 million. 

Just like any company in Kenya, Equity Bank has also grown bountifully through time.

East Africa Breweries Limited

Before it became one of the richest companies in Kenya, East Africa Breweries Limited or EABL was established in 1922 which was called then as Kenya Breweries Limited.

It got listed in NSE (Nairobi Securities Exchange) in the year 1954, which was a big step for the company.

In the year 2000, the majority of EABL control acquire by Diageo and Associate Companies.

It was in 2005 when they gave birth to EABL. Being one of the richest companies in Kenya has an estimated Kshs 54 billion annual contributions to Exchequer across East Africa.

The company also recruits 60,000 farmers in the supply of their raw materials needed in the brewery production.

The company also employs 240,000 people in the farming community.

Because of this, they are known as one of the most famous companies in Kenya to bring liquor as art.

They also take pride in hiring local farmers as part of their contribution to their local employment. They also promote gender equality by hiring women.

In fact, 7 out of 19 of their members of the board are women and 50% of their farmers are women. Not only are they the richest company in terms of its profit.

But they are also richest in the spirit of contributing to the economic growth of Kenya.

They produce 12 million EUs across East Africa, making them the largest brewery system in the continent.

Every year, they have a 5% growth in their net sales and 4% improvement in their gross margins which only proves that they continually grow day by day.

Indeed, EABL is one of the best and richest companies in Kenya in the brewery industry.

Safaricom Limited

Safaricom PLC is the richest and largest mobile network operator and the largest telecommunications provider in Kenya.

Its services range from electronics, fiber optics, phones, money transfer, and other technology-based transactions. It is the home of the famous MPESA, which is a renowned mobile banking service in Kenya.

Companies like Safaricom Ltd., being the richest, holds more than 60% of the market in Kenya as of 2019 with an estimated subscriber of 33 million.

The company has an estimated 70% of their transactions done digitally.

The innovative and pioneering strategy and creation of MPESA opened doors for myriad business opportunities for Safaricom Limited.

Hence, just like any other company in Kenya, they have contributed to the convenience of the lives of many Kenyans. 70% of Kenyans no longer need to line up in a long queue to pay or withdraw cash.

Through MPESA, they can do their transactions in the comforts of their homes and avoid long queues.

Safaricom is also the reason why Kenya is known for its fast-growing digital advancement.

With the region’s digital natives, Safaricom made it easily in the Kenyan economic industry. 

Indeed, Safaricom Ltd is one of the companies that prioritize and the clients’ needs in partnership with the advancement of technology.

Kenya Airways Ltd

Kenya Airways is the richest and one of the best airline companies in Kenya.

It has been operating since 1977 and is currently control by Titus Naikuni for 12 years now.

Kenya Airways as “Pride of Africa” because of its ability and economic contribution to connecting the African continent to other countries in Europe, Asia, and America.

Because of their reputation, many local and international investors invest in companies like this both for economic growth.

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As of 2017, it has already reached 40 fleet size, and it has an average of 53 destinations and 43 Boeing and Embraer planes.

As of 2016, the airline is one of the richest companies in Kenya. So, the average revenue of Ksh 116 million, with an operating income of Ksh 4 million.

ts average income is estimated to be approximately Ksh 3.4 million with an average profit of Ksh 26 million.

Kenya Airlines also has a numerous number of members, reaching up to more than 4,000.

Those numbers speak as to why Kenya Airways Ltd is the richest airline in Kenya.

It aims to cross and connect continents is sure of great value, not only to many Kenyans but all over the world. 

Indeed, companies like Kenya Airways, Ltd goes far and beyond in extending quality service to its clients.

Northstar Cooling Systems  

Northstar Cooling Systems, Ltd is one of the richest and most famous companies in Kenya in terms of air conditioning, refrigeration, and ventilation in Kenya.

Their services cover all aspects from design to repair and maintenance. Being one of the best and richest companies in Kenya, the company has established its name since it started.

They have established a very reputable name through the years of trusted operations in Kenya and the entire region.

The company is one of the world’s richest companies in Kenya and Number 1 dealer in air conditioning along with giants such as Carrier and Toshiba.

With its stable financial capacity, the company has reached its growth and development.

They have improved from 5 working staff to a maximum of 150. This only proves that the company is growing based on the needs of the customers they are serving.

Their main customers are supermarkets, hospitals, banks, and other big and small offices and buildings.

Northstar Cooling Systems is responsible for “cooling” the heat of Kenya As pun as it may sound, but yes the companies like Northstar Cooling Systems, Ltd.

And have established its reputable name in offering cooling systems in the forms of air conditioning units and refrigeration. Indeed, Northstar Cooling Systems has cooled the world of Kenya and its neighboring regions. 

This makes them one of the most in-demand companies in Kenya.

British American Tobacco, Kenya, Ltd.

British American Tobacco Kenya, is on the list on the Nairobi Securities Exchange in the year 1969.

It is also believe to be one of the top-performing companies in Kenya in the tobacco industry. It has been estimated that the company has an estimated 5,000 and 4,000 outside and local shareholders, respectively.

British American Tobacco Kenya, Ltd (BAT), now considered as one of the richest companies in Kenya, offers a variety of services offered from tobacco farming to its processing and selling of cigarette products.

Its farmers have reached approximately 5000 who are from other parts of the region such as Busia, Meru, and Bungoma.

In the year 2017, the farmers have delivered approximate 8 million tons of tobacco leaves in Kenya, which, in turn, they were given 1.5 Ksh billion as their fee. 

This makes them one of the companies in Kenya that have contributed a lot to its economy.

The company has been a great help in the history of employment in Kenya.

It has offered jobs to more than 80,000 Kenyans in areas such as tobacco, farming, processing, and manufacturing.

Companies like BAT also add job opportunities to people in Kenya in tobacco product distribution, trade export and import processing, logistics, and domestic acquisition. 

With its vast number of employment opportunities, BAT is said to be one of the richest companies in Kenya.

And it has distributed more than 60% of its output to Kenya and different African countries.

With that given fact, BAT is considered to have contributed a lot to the economy of Kenya and is considered as one of the richest tobacco companies in Kenya and even in the world.

To add, for 5 years now, BAT has invested over Ksh 8 billion in the tobacco industry. Ksh 87 billion has also been added to the national revenue of Kenya in its taxes.

Indeed, British American Tobacco Kenya, Ltd. is considered as one of the country’s richest companies. 

Standard Chartered Bank

Standard Chartered Bank has been operating since its foundation in 1911. And it is known as one of the richest companies in Kenya.

The bank is also known in Kenya to have had a lot of firsts in the banking industry.

It is the first-ever branch to open in Mombasa Treasury Square. The company takes its pride as it was announced as the first Kenyan bank to receive an ISO 9002 certification.

The richest bank in Kenya is also recorded to have the first ATM Automated Banking Center in the region which runs for 24 hours.

With their ISO certification, they aim to be part of international standardization when it comes to their operations not only in Kenya but in its other parts of the continent as well.

They follow the international quality standard in their business processes. That means Standard Chartered Bank is not just locally standard, but it also adheres to international banking standards.

They are very much capable of competing locally in Kenya and internationally. 

The Bank is listed under Nairobi Securities Exchange since the year 1989. It has an estimated number of 30,000 shareholders and the public has over 25% of the entire share.

Recently, the bank has made its announcement of having a 35% increase in its profit. And is considered relatively high compared to its previous year of operation.

It was recorded that Standard Chartered Bank Kenya has its KShs 9.2 billion increase in its profits from the previous year’s KShs 6.9 billion.

In the year 2019, the bank has made its massive macro and micro-economic improvement in Kenya in digital solutions alone.

The bank continues its aim to be one of the richest companies in Kenya.

And offer high-quality which is up to international standards when it comes to banking and finances.

With this, Standard Chartered Bank Kenya has continuously shown to its clients as to how serious they are in achieving its dedication to offer the best and quality service, not only in Kenya but in the entire continent of Africa.

Barclays Bank

Barclays Bank of Kenya is one of the largest African institutions in the banking and finance industry in Kenya.

It is under the Absa Group Limited, and it is known in the entire continent as the first Kenyan bank a part of the Johannesburg Stock Exchange.

It’s consider to be one of the greatest milestones banking and finance industry in Kenya.

As it is not easy to be part of the Johannesburg Stock Exchange.

With such achievement, a lot of banking and finance sectors look up to Barclays Bank and Kenya takes pride in having such honor and recognition.

Being one of the largest African banking institutions, it has its offices in over 12 countries in the entire African continent.

In Kenya alone, it has around 84 branches and 210 Automated Teller Machines that are operating for years since its establishment.

It has an estimated KShs 27 billion interest in its income and about KShs 11 billion gross profit.

Those numbers speak why the bank is view as one of the richest in the entire country. 

Barclays Bank of Kenya is also one of Kenyan’s bank choice because of its reputable and reliable banking services.

They have very accommodating and friendly staff who are fluent in the English language.

This makes it easier for most foreign clients to transact in Kenya. 

MTN GROUP

MTN Group of Companies is one of the youngest yet richest companies in Kenya. It’s known to have to change the face of Kenya in terms of its changes and advancements in technology digital methods.

Through the help of people with great technological and digital minds, MTN came into its growth.

Since its start of the operation, the company has retailed in over 21 countries in Africa, including Kenya.

Part of their services include data and digital services to customers from money changing to money transfers.

They have been offering enterprise solutions to both individual and private group sectors in over 23 countries.

MTN Group of Companies has recorded $11 billion sales with around $600 million in profits in the past year. 

It’s estimate that a lot of people transact with MTCN Group because of their established reliability and trust that they have proven to people over the years of operation.

They are the richest and the largest group of companies in money, sending and receiving business.

Their services also cover money transactions and currency exchange.

They also have the richest customer satisfaction which is amazingly high for the MTN Group.

The company takes pride in positive comments from customers saying that they offer exceptional and quality service.

Most customers recommend MTN Group to investors who are looking for serious, reliable, and stable investments.

No wonder locals and foreign investors have already partnered with MTN Group and one of the richest companies in Kenya. 

There is no universal computation to calculate a company’s value. To know the company is the richest.

It does not just know its profit. There are criteria to meet and goals to achieve. It’s also not a matter of how long they have been operating.

But it is how they operate. It is not about how many branches they have, about how these branches work in connection with their aims and goals as a company.

There are three (3) basic things to bear in mind in knowing when to say that it is the richest company in Kenya.

The first is to know the current share of a company. The so-called richest company’s stock says a lot about their financial gains and losses.

So, if you want to know a company’s share, you can try searching for the company name followed by the word stock.

Richest companies post their company share publicly and usually of no secret.

Next is to know the company’s outstanding share. By identifying this, you simply have to identify which share is active both for its local members such as employees and staff and outsiders.

It is a must that the company has its shares held by outsiders to further its financial connections.

This is also another way of ensuring that the company will be able to stand on its own once the local shareholders are no longer able to manage the company.

Lastly, know the richest company’s market capitalization. In order to identify this, you simply have to know its total value of all shares.

And is held by both internal and external holders. However, this can only be done if the company made its total shareholders public.

Top 10 Richest Companies in Kenya Summary:

Hence, some companies that do not want to be known publicly announcing their total shareholders.

Nonetheless, this is, by far, the best way to measure the company’s overall and general size.

The bigger is the market capitalization, and the richer is the company. Richness may also not be measured according to how big the company’s bank account is.

Richest companies’ wealth can also be measure as to how much contribution they have given in the country and in the entire continent.

Having said that, all of the 10 companies discuss above are all rich in numbers and rich at heart.