- Nicholas Biwott was one of the most powerful Cabinet members during the KANU regime under the late retired president Daniel Arap Moi
- Before he died in 2017, he was ranked among the richest Kenyans with investments across diverse sectors
- His business empire began in 1969 when he acquired the Eldoret Town International Harvester (IH) at 29
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The late Nicholas Biwott was a politician whose life was shrouded in mystery and secrecy.
Before he died in 2017, he was ranked among the richest Kenyans with investments across diverse sectors.
Ventures Financial magazine ranked him among Africa's top 50 billionaires.
During the KANU era under the late president Danie Arap Moi's leadership, he was nicknamed Total Man and wielded immense power.
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How did Nicholas Biwott accumulate his wealth?
The Total Man served as a member of parliament for 28 years.
He also held different ministerial roles, having been appointed minister in the Ministries of Trade, State, Agriculture, Energy, Home Affairs and Treasury.
According to his website nicholasbiwott.com, his business empire began in 1969 when he acquired the Eldoret Town International Harvester (IH) at 29. At the same time, he acquired the Kipsinende dairy farm.
During the same period, he built a real estate portfolio in Rift Valley and Nairobi and invested in wheat and maize commercial farming.
"He started an import-export food and agriculture business in 1972, bought two wheat farms in 1974 (one of which was the locally renowned Karo Farm), and acquired a small safari aircraft operator in 1977, which became Air Kenya," his website stated.
In the 1980s, he had interests in the manufacturing, oil, and banking sectors.
What did Nicholas Biwott own?
Kenol-Kobil shares (now Rubis Energy)
Biwott was one of the largest shareholders of the oil marketing company Kenol-Kobil, which was purchased by Rubis Energy in 2019, as announced by the Competition Authority of Kenya.
He bought shares at Kenol in 1981, which at the time was an insolvent publicly listed oil firm.
For 38 years before local and international investors took over, he rebuilt and slowly grew the company to one of Africa’s largest downstream oil companies.
HZ Company
Business Daily reported that Biwott owned HZ company which monopolised road contracts in Kenya.
According to the publication, he used his government's connections to bag huge tenders.
Using the company, he invested in construction and property development.
Other companies owned by Biwott
Business Today noted that the wealthy politician owned over 30 companies.
These included:
- Premier Group of Companies.
- Pete Aviation and Electronics Ltd.
- Ziba Management & Services.
- HZ Group of Companies in Israel.
- Lima Kenya
He had shares in:
- Safaricom.
- S.R Telecommunications Co. Ltd which bagged Telkom Kenya contracts.
- National Milling Corporation.
- Trinity Enterprises.
- Westomon, an independent power producer.
- Regional Air - owned by his son-in-law Charles Marsham.
- First American Bank.
According to his will written on January 19, 2017, he distributed his vast estate among his seven daughters, each receiving a fourteenth of the wealth.
Biwott's family sells Yaya Centre
On Monday, August 7, TUKO.co.ke reported Biwott's family sold the iconic Yaya Centre shopping mall, Yaya Apartments and Hotel to the Kantaria consortium.
The value of the private transaction involving the two family businesses was estimated at billions of shillings.
Kantaria Consortium is run by the family of Rasik Kantaria, whose businesses revolve around the hospitality industry.
Yaya Centre adds to other multi-billion properties the Kantarias own, including the Radisson Blu Arboretum Hotel, Nairobi.
What does David Ndii own?
In other news, President William Ruto's economic adviser David Ndii invested in Zimele Asset Management Limited, which provides solutions for savings, investing, and retirement planning.
The company was established in 1998 and provides fund management services. Besides that, it offers investment advisory services to individuals and corporate clients.
Ndii also shared photos of his palatial mansion. The two-storey house with a great roof features a library and a bar.
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