Family-owned businesses in Kenya account for over 60% of the total employment
Some of the top family empires in the country rake in revenues of over KSh 10 billion per annum
Bidco Africa for instance has annual revenues of more than $500 million (KSh 53.9 billion)
PAY ATTENTION: Help us change more lives, join TUKO.co.ke’s Patreon programme
In Kenya and the entire East African region at large, family-owned businesses are the engine of private sector growth accounting for over 60% of the total employment. Tabitha Karanja and her husband founded Keroche Breweries in 1997. Photo: Tabitha Karanja. Source: Facebook In 2020, private data company, Asoko Insigh t surveyed 490 family-owned firms across various industries.
About 14.3% of the family businesses surveyed had annual revenues of over US$ 50 million (KSh 5.3 billion).
Over 20 of the companies on the other hand studied had revenues over US$ 100 million (KSh 10.7 billion) per annum showing their importance in the economy.
The family-owned businesses cut across various sectors including construction, agriculture, media, banking and retail.
TUKO.co.ke lists some of the top successful Kenyan family-owned business empires. 1. Chandaria Industries
Chandaria Industries was founded by Mahesh Chandaria on May 1, 1964.
Mahesh serves as the group managing director and manages the company alongside his two sons Darshan Chandaria and Neer Chandaria. PAY ATTENTION: Install our latest app for Android, read the best news on Kenya’s #1 news app The company started out as a small tissue converting operation and today is the largest tissue and hygiene products manufacturer in Kenya, East and Central Africa.Its annual revenue is estimated at over KSh 1.2 billion. 2. Comcraft Group The Comcraf Group, a billion-dollar enterprise that has a presence in over 40 countries, was founded by Manu Chandaria who runs the industrial behemoth with his family.The group produces steel, plastics, and aluminium products from its manufacturing facilities across different countries.The group has its headquarters in Nairobi and employs over 30,000 people across five continents.The business empire was valued at US$ 2.5 billion (KSh 269.8 billion) by Forbes in 2011. 3. Bidco Africa Bidco Africa, a subsidiary of Hemby Holdings Limited, was founded by Bhimji Depar Shah and his family.His son, Vimal Shah, the chairman of the group, has been the face of the family-owned manufacturing conglomerate with businesses in over 13 African countries.According to Forbes, Bidco has a 49% share of the edible […]