24.2 C
Nairobi
Monday, April 15, 2024
HomeWealthKenyan Billionaires Who Own Gas Companies

Kenyan Billionaires Who Own Gas Companies

The petroleum industry is considered one of the most lucrative in the world considering all the global applications for products from this sector.

In Kenya, players in the industry are among the wealthiest individuals in the country, as the product directly affects the lives of people be it in the form of fuel or Liquid Petroleum Gas (LPG).

A slight increase in petroleum prices in the country and every other service becomes expensive. According to reports, about 50 per cent of households in the country use LPG gas in their homes.

Some of the most common brands of gas in Kenya include K-gas which is owned by Rubis Energies after its acquisition of KenolKobil, Pro Gas, Total Gas, among many others.

Here are some of the Kenyans who own gas companies as researched and compiled by WoK.

Muhammed Jaffer

The billionaire businessman is the owner of the popular Pro Gas brand.

Mohammed Jaffer: The Billionaire Founder Of Pro Gas (Proto Energy Limited)
Founder of Pro-Gas Mohammed Jaffer Image/Courtesy

Jaffer was born in Mombasa in 1948. He is the proprietor and founder of Africa Gas and Oil (AGOL) which owns Proto Energy Limited under which Pro Gas is sold.

Pro Gas begun operations in Kenya and has since risen to become one of the largest suppliers in Kenya and expanded into other East African countries.

The billionaire is the founder of MJ Group, Africa’s largest provider of cargo handling services at the port of Mombasa. According to a piece appearing on Forbes Magazine, the terminal cost Jaffer $35 million in the 1990s and is now valued at over $140 million. His company has other cargo handling terminals and freight stations in Kenya, Uganda and the United States as well as LPG Terminals and a grain terminal at the port of Lake Charles in Louisiana in the United States.

Mohammed Jaffer’s vast empire that is estimated at $1 billion started four decades with an initial investment of $200, reports Khoja Leadership Forum (KLF).

Also Read: Luqman Petrol Station Leadership, Branches And Services Offered

Mr. Ahmed Hashi

The brains behind Hashi Energy Limited-then known as Hashi Empex Limited-is Mr. Ahmed Hashi. According to the company website, the visionary founder saw “great business potential in remote, unfavourable terrains and unstable states within the surrounding regions”. In its infancy, the company was a Kerosene distributer for Chevron Kenya. At the time they supplied the kesorene using jerry cans to African regions like Rwanda and DRC. In the 90s, the company acquired depots in western Kenya to serve the Kenya market as well export to regional markets.

The The company owns Hashi Gas.

 

William Ruto

The brand name Kitengela Gas was relatively new to most Kenyan until Interior CS Fred Matiang’i linked it to deputy president William Ruto. According to the combative CS, the company was guarded by six police officers. The DP has not come out to deny or confirm that the he owns the gas company.

Peter Macharia Kariuki

He is the owner of the Jamii Gas brand. The company is based in Nairobi and supplies to various parts of the country.