What is Naushad Merali net worth ?
Naushad N. Merali is the founder of the Kenyan mobile service provider Kencell along with French media giant Vivendi.
Merali has brought commercial development in Kenya for more than 30 years and is constantly expanding his businesses throughout East Africa.
As of 2020, Naushad Merali net worth is $550 million making him one of the richest men in Kenya.
Naushad Merali Profile
Merali was born on 2nd January, 1951 in Nairobi Kenya. He attended Highway Secondary School in the suburbs of Nairobi, Kenya.
His business career began in the 1980s when he became the director of the now-defunct W.P.H. Kenya Tea company
In 2004, Merali managed to purchase 60% ownership of the business from Vivendi for $230 million.
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Merali transfered ownership only an hour later to Celtel for a $20 million profit.
While owning 5% of Bharti Airtel’s Kenyan wireless phone operations, Merali spends his time steering the affairs of the Sameer Group.
The Sameer Group is a conglomerate of 15 Kenyan companies that range from financial services to agriculture and even information technology.
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Three of these companies appear on the Nairobi Stock Exchange and Merali is worth $210 million as of 2 November 2011.
He is reported to have shares in the Commercial Bank of Africa as of 2003. Merali purchased the Grand Regency Hotel during that same year. This caused a lot of controversy in Kenya.
Merali also holds positions at the Kenya Export Promotion Council, the International Who’s Who of Professionals, and the National Investment Council of Kenya.
The President of Kenya has appointed him to positions such as membership in the Kenya Export Promotion Council, membership in The National Poverty Eradication Commission of Kenya, and membership in The Presidential Committee on Employment.
He appeared at the 2011 World Economic Forum in Davos as one of the African delegates along – making him one of the three Kenyan delegates.
In 2012, Merali invested in construction. Two of Merali’s former firms, Kenya Data Networks and Swift Global are in the process of being merged into Great Britain’s Liquid Telecoms as of February 2013.
Many executive positions could be declared redundant as a result of this multinational merger.
Both retail and wholesale services for the lower end of the consumer spectrum were provided by both of these firms as individual companies; as rival Internet service provider Safaricom already had a firm grasp on the upper end of the market
Naushad Merali Net worth
Merali is listed among the wealthiest Kenyans. he has a fortune of $550 million.
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