Kenya's second wealthiest man - Naushad Merali

folarin okunola

June 1, 2015 1:36 PM

He was ranked 46 in Forbes's 2014 Africa's 50 Richest list with a $550 million net worth.

Kenya's second richest man, Naushad Merali

According to Forbes, Naushad Merali is founder of the Sameer Group, a Kenyan conglomerate with interests in agriculture, construction, information technology, property and finance.

He stepped down as chairman of Bharti Airtel Kenya in May, a position he had occupied for the last 15 years. He still keeps a 5% shareholding in the mobile phone network.

Merali has been selling off assets. In January 2013, he sold a 49% stake in Kenyan Internet service provider Swift Global to UK-based LiquidTelecom.

He announced plans in August 2014 to spin off the tire manufacturing business of his publicly-listed Sameer Africa, and he is currently working to sell a 51% controlling stake he owns in Equatorial Commercial Bank to a Kenyan Savings & Credit Society.

The 64-year old's wealth is self-made and spans various sectors. He was ranked 46 in Forbes's 2014 Africa's 50 Richest list with a $550 million net worth.

folarin okunola

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