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HomepoliticiansPowerful Kikuyu Billionaires Funding Raila Odinga's Presidential Bid

Powerful Kikuyu Billionaires Funding Raila Odinga’s Presidential Bid

By Kuria Kimani

Raila Amolo Odinga is a former Prime Minister who held office between 2008 and 2013 and the current ODM leader. He has been on a quest to serve as Kenya’s president since the 2007 general elections. The opposition chief will run for presidency come 2022 in what is his last stab at the top seat. His presidential bid is being funded by wealthy Kikuyu billionaires as you will see below.

George Muhoho

Among the Mt Kenya billionaires and businesspeople campaigning for Raila Odinga to be elected president is George Muhoho the Director-General of the Kenya Airports Authority (KAA), since 2004, and maternal uncle to President Uhuru Kenyatta. George is Kenya’s first lady, Mama Ngina Kenyatta’s brother. The long-serving Catholic priest also served in President Moi’s government until 1991, when he defected to former President Mwai Kibaki’s Democratic Party where he currently is the treasurer.

Peter Munga

Equity Bank, formerly known as Equity Building Society, was established in 1984 by the banking expert and chairperson of the Mt Kenya Foundation. In 2018, at the age of 75, Peter Munga, the bank’s long-serving chairman, stepped down. Owing to the bank’s focus on small firms and entrepreneurs, Munga led the financial behemoth to win 15 global awards. Munga owns a 0.4 percent stake in the banking institution, worth USD 5 million, or roughly KSh 554 million, according to Forbes. He also owns a majority stake in Britam Holdings and Equatorial Nut Processors, both of which are worth about KSh 500 million. According to Forbes, he has a current net worth of around KSh 11 billion.

Also Read: Equity Bank Founder Peter Munga Net Worth

S.K Macharia

Born in 1942 in Ndakaini, Murang’a county, SK Macharia, or Samuel Kamau Macharia is the founder and chairman of Kenya’s biggest media house, Royal Media Services. RMS owns TV stations and 14 radio stations. The billionaire who comes from very humble beginnings owns Directline Insurance, Serenity Media Productions Ltd, Toi Redevelopment, Bushfire Media Distributors, Big Five Conservancy, and Harbour Capital Ltd. His net worth is estimated to be KSh 40 billion.

Also Read: SK Macharia Biography, Career, Family And Property Row With Grandson

James Mwangi

Dr. James Mwangi is among Africa’s most famous ideological leaders, a serial entrepreneur, and a philanthropist. He is the Group CEO of Equity Group Holdings. James who owns 5% of EGH, is recognized for democratizing financial access. In 2009, he was named among the “Top 50 Thought Leaders in Emerging Markets” on the Financial Times list and one of the “Top 20 Most Influential People in Africa”. He is a member of several global advisory bodies on business, education, and sustainability, including the United Nations and IFC.

According to Forbes, Dr. Mwangi’s net worth is estimated at Ksh 18.3 billion.

Also Read: Equity Bank CEO James Mwangi Biography, Age, Education, Career, Family, Philanthropy and Net Worth

Paul Ndung’u

Paul Wanderi Ndung’u is a billionaire entrepreneur who is known for his former part ownership of Sportpesa Global Holdings Limited which is operational in Kenya, Tanzania, Russia, Italy, and South Africa. His stake was reported to have fallen since the company’s incorporation in 2017 from 17 to 1.5% along with his fellow minoritized shareholder Maina Wacere Asenath whose stake fell from 21 to 1.9%. Paul Ndung’u is the founder of Kenyan mobile phone retailer – Mobicom which grosses approximately $50 million in annual revenue and Group Managing Director at Glory Forex Bureau Ltd, a Nairobi-city-based foreign exchange bureau. He also owns shares in Crown Paints Ltd and other companies in Kenya making him one of the wealthiest men in the country.

Mary Wambui Mungai

Mary Wambui is an entrepreneur born and raised in Gatundu Constituency, Kiambu County. She is a close ally of Deputy President William Ruto and has been nick-named Wambui wa Ruto. The two are close associates as was evidenced when Interior CS Fred Matiang’i addressed the nation on altering the Deputy President’s detail, Wambui was one of the associated named for protection assignment. Her wealth can majorly be attributed to her tendering business and other company associations named Nightiangle Enterprises Limited and Purma Holdings. She owns a Ksh 250 million five-bedroom maisonette in a one-acre piece of land in Runda and has made millions in her tendering business. However, she was caught amidst damning tax evasion and conspiracy to defraud allegations that saw her and her daughter flee the country.

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