Thursday, May 23, 2024

Somali’s Billionaire Elite: Unveiling the Top 10 Wealthiest Somali Moguls in Kenya in 2024

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Nyongesa Sande
Nyongesa Sandehttps://bizmart.africa
Nyongesa Sande is a Kenyan blogger, Pan Africanist,c olumnist Political Activist , blogger, informer & businesman who has interest in politics, governance, corporate fraud, human rights and television personality.

The Somali community in Kenya has produced some of the country’s wealthiest and most influential business figures. Below is a list of the top 10 richest Somali individuals in Kenya, highlighting their estimated net worth and primary sources of wealth across various industries.

RankNameTotal Net WorthAgeRegionSourceIndustry
1Ismail Ahmed$1.6 billion58NairobiRemittanceFinancial Services
2Amina Moghe Hersi$1.2 billion60KisumuInvestmentsReal Estate, Sugar Manufacturing
3Abdirashid Duale$900 million50NairobiDahabshiilTelecommunications
4Said Salah$800 million65NairobiImport/ExportCommerce
5Hussein Ali Hassan$700 million48NairobiConstructionReal Estate
6Fathiya Dayib$650 million54MombasaReal Estate InvestmentsReal Estate
7Abukar Adan$540 million50NairobiShippingLogistics
8Bashir Osman$530 million57MombasaFisheriesAgriculture
9Ali Haji Warsame$500 million62NairobiDiversified InvestmentsMultiple Industries
10Yusuf Abdi Adan$480 million70NairobiAir TransportAviation

Highlights:

  • Ismail Ahmed, the founder of a global remittance company, has significantly impacted financial services in East Africa, easing the way money is sent and received in the region.
  • Amina Moghe Hersi has diversified her investments into real estate and sugar manufacturing in Uganda, showing the entrepreneurial spirit of Kenyan Somalis.
  • Abdirashid Duale runs Dahabshiil, an international funds transfer company crucial for remittances into the Horn of Africa.

These individuals have not only excelled financially but also played significant roles in fostering economic growth, providing employment, and improving the lives of many in Kenya and beyond. Their enterprises span across critical sectors such as telecommunications, real estate, and agriculture, underlining their importance in both the local and regional economies.

Methodology
The wealth ranking by Bizmart Africa is derived from assessing the value of assets, including cash, private and public holdings, deducting any liabilities. The list prioritizes individuals over extended family wealth, incorporating assets owned by the wealth originator’s immediate family if they are integral to the wealth’s establishment. Asset evaluation encompasses tangible and digital properties. However, in cases where financial information is not disclosed or accessible, the estimated wealth may be adjusted to account for the potential discrepancies.

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