Japhet Ruto, a journalist at TUKO.co.ke, has over eight years of experience covering finance, business, and technology, offering in-depth insights into economic trends in Kenya and beyond.

Family-owned enterprises, which account for more than 60% of all jobs in Kenya, are the main drivers of the private sector's growth.

Asoko Insight, a private data organisation, surveyed 490 family-owned businesses in a range of sectors.

The research showed approximately 14.3% of the firms made more than $50 million (KSh 6.46 billion) yearly.

Over 20 of the companies in the survey generated over $100 million (KSh 12.93 billion) in revenue annually, demonstrating their significance to the economy.

The family-run companies operate in a variety of industries, such as retail, banking, media, construction, and agriculture.

Supa Loaf is among the popular bread brands in Kenya.

The company's website shows that Nurzakhanu Akberali Manji and her husband Akberali Habib Manji founded the factory in 1970.

The couple initially baked bread and other goods at home.

They obtained a license to run Mombasa's first bakery the same year. The business grew, with the family establishing bakeries throughout the nation, with Mini Bakeries Limited serving as the group's main enterprise.

The bakery became a conglomerate with more than 50 branches after Manji's sons joined her in the business.

Muthokinju Paints & Cements Company was established by Barnabas Njuguna and his wife Susan Muthoni Kimani.

The duo named the firm using the initials of their names, Muthoni, Kimani and Njuguna (Muthokinju).

According to the company's website, Njuguna and Kimani founded it in 1995 in the Kasarani area, Nairobi county.

Bizna Kenya reported that the couple initially managed a restaurant at Kenyatta Market, but closed it to focus on hardware.

They later passed the baton to their son Benjamin Kimani and his wife Sarafina Njatha.

"I took over a company that was already well-known. I attribute the development of goodwill to my parents. By performing in a larger venue than they did, I have been able to magnify their values," Benjamin said.

The company sells paints, paint accessories, cement and waterproofing products across Kenya.

James Karanja and his wife Tabitha Karanja (Nakuru senator) established Keroche in 1997, as a fortified winemaker.

The couple started the alcoholic beverages business with a capital of KSh 50,000 drawn from a hardware they managed.

By 2020, the beer maker was valued at over KSh 8.5 billion.

However, the company was accused of failing to pay over KSh 14 billion in taxes by the Kenya Revenue Authority (KRA).

The Karanjas have been in and out of court, with their business impacted by the tax claim.

Daniel and Eddah Gachukia established Riara Group of Schools in 1989.

According to the institution's website, Gachukia founded it after retiring from the board of East Africa Industries Ltd.

Swedish investors purchased a 22% stake of the Riara Group of Schools in April 2019, with Actus Education Holdings and the family-run educational institution signed an agreement.

The cost of the deal was not disclosed, according to Daily Nation, but Gachukia pointed out that he and his wife continued to serve as executive directors.

Royal Media Services was founded by Kenyan media mogul SK Macharia who serves as the chairman, deputised by his wife Purity Gathoni.

According to RMS's website, Macharia established it in 1996.

The media house boasts over 10 radio and television stations, including Citizen TV, Ramogi TV, Inooro, Musyi FM, Chamgei FM and Radio Citizen.

Macharia's net worth is estimated at over KSh 40 billion.

In other news, Manu Chandaria founded the Comcraf Group, a billion-shilling company with operations in more than 40 countries. He and his family currently manage the industrial giant.

The group's production plants spread across several nations create steel, polymers, and aluminum products.

Bhimji Depar Shah and his family founded Bidco Africa, a division of Hemby Holdings Limited.

The group's chairman, his son Vimal Shah, has served as the public face of the family-run manufacturing company, which operates in more than 10 African nations.

Source: TUKO.co.ke