A joke that is common among Nairobi’s elites is that John Kibunga Kimani can pass as an ordinary person on the city’s busy streets.
He doesn’t own as many suits as his peers and moves around in a “jalopy” that he services at a garage in downtown Nairobi.
Not the life that most billionaires in East Africa’s biggest economy are accustomed to. But for Kimani, life is more than the trappings of money and power.
Kimani is among the few Kenyan billionaires whose every investment move makes it to the front pages of local business publications.
Kimani ranks among the top individual investors at the Nairobi Securities Exchange (NSE) with stakes in major counters. His interests span telecommunications, media, agriculture, and financial services.
His total holdings at the NSE are estimated at $25 million, which makes him the sixth-richest individual investor at East Africa’s largest securities exchange.
In February, the billionaire bought an additional 10.8 million shares of investment firm Centum raising his stake to 6.84% from 5.21%.
This made him the third largest shareholder in the company after the estate of the late Chris Kirubi and the state-owned Kenya Development Corporation which hold 30.82% and 22.96% respectively.
The billionaire has been ramping up his shareholding in major companies at the NSE including telecommunication company Safaricom, agricultural firm Kakuzi and Centum.
In January, he raised his stake in Safaricom to 27.7 million shares, making him the second-largest individual shareholder in the telco.
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Squatter to a titan
Kimani leads a simple life, according to people who know him. While he owns a substantial stake in Kenya’s largest private media outlet, Nation Media Group (NMG), he is a recluse, and not much is known about him.
NMG owns newspapers including Kenya’s Daily Nation and the Business Daily, Uganda’s The Monitor, and Tanzania’s Mwananchi. It also owns NTV in Uganda and Kenya.
John Kibunga Kimani is known for being a reclusive and media-shy individual. Despite his significant achievements in business and agriculture, he tends to maintain a low profile and avoids the spotlight.
His preference for privacy sets him apart from many public figures in the business world, and he often lets his work speak for itself rather than seeking media attention.
Maybe this approach allows him to focus on his endeavors and contributions without the distractions of public scrutiny.
Kimani grew up as a squatter in Makuyu, Murang’a County. He rose from grass to one of the largest shareholders of Kakuzi Plc, the agricultural giant that owns 39,000 acres of land in Makuyu.
Rich agricultural background
He holds a Bachelor’s degree in Agriculture from Makerere University, a Master’s degree in Agricultural Economics from Reading University, and a PhD in Development Studies, Economics, and Socio-anthropology from the University of Sussex.
Kimani is part of the Agricultural Society of Kenya and the Avocado Exporters Association of Kenya.
Additionally, he is a fellow of the Economic Development Institute of the World Bank.
He possesses extensive experience in both public and private agricultural sectors.
His work includes planning, developing, and overseeing smallholder agricultural extension programs at the county level, managing smallholder irrigation projects, and creating long-term plans for land and water resources throughout Kenya.
Notably, he led the planning team for the Tana and Athi River basins, which encompassed six districts across the former Central, Eastern, and Coast Provinces of Kenya.
He has collaborated on government agricultural projects supported by the World Bank, SNV of the Netherlands, JICA of Japan, DANIDA of Denmark, and GTZ of Germany.
Companies associated with John Kimani
The list below consists of five companies in which he has direct or indirect ownership:
1. Kakuzi Plc
Kakuzi Plc is a leading agricultural company listed on the Nairobi Securities Exchange (NSE), known for its high-quality horticultural products such as avocados, macadamia nuts, and passion fruits.
The company also processes and sells tea, and cattle, and engages in commercial forestry. John Kibunga Kimani holds a significant 34.54% ownership stake in the company, translating to 6,762,133 ordinary shares, making him a prominent figure in the agriculture and manufacturing sectors.
2. Centum Investment
Centum Investment is a top investment firm in East Africa with a diverse portfolio of high-quality investments. The late Kenyan magnate Chris Kirubi’s estate partly owns the company.
Centum’s mission is to connect investors with exceptional enterprises across Africa, creating tangible wealth. Kimani has a notable 4.39% ownership interest in the company.
3. Nation Media Group
Nation Media Group is a major player in the media and entertainment industry, offering television networks, film, and TV entertainment. It is the largest independent media house in East and Central Africa, serving audiences in Kenya, Uganda, Tanzania, and Rwanda.
Kimani owns a 3.86% stake in this leading media conglomerate, broadening his investments across various successful sectors in the East African region.
4. Rural Development Services
Rural Development Services Limited, closely linked to Kimani, is known for its vast land holdings across Kenya, making Kimani one of the country’s leading landowners.
In 2021, a high court ruling required the company to finalize the sale of a 126-acre land parcel in Makuyu, located in Kenya’s Murang’a County, to African Cotton Industries Limited.
5. Safaricom Plc
Safaricom Plc, based in Nairobi, is Kenya’s top telecommunications service provider and mobile network operator.
As the largest telecommunications company in East and Central Africa, Safaricom dominates the Kenyan market with a 64.5% share and is credited with the creation of M-PESA, a pioneering mobile banking service.
Kimani owns a minority stake in this telecommunications giant, cementing his role as an influential player in the East African telecom sector.
