- Stanley Githunguri was a affluent Kenyan political figure who represented Kiambaa as a Member of Parliament between 2007 and 2013.
- The 77-year-old entrepreneur passed away leaving multiple properties and business interests estimated at KSh 1.8 billion upon his demise.
- He designated his daughters Lilian Joy Nyagaki and Claire Njeri as both the trustees of his estate and the executors of his will.
Japhet Ruto, who works as an editor for INSPIRATIONS DIGITAL.co.ke, has accumulated more than eight years of experience in finance, commerce, and technology. He provides comprehensive insights into global and Kenyan economic patterns.
Stanley Githunguri, a former Kenyan politician and entrepreneur, passed away on November 30, 2022, at the age of 77.
The former Kiambaa Member of Parliament (MP) who served between 2007 and 2013 on a Kenya African National Union (KANU) ticket, left behind multimillion wealth.
How Githunguri Distributed His Wealth
The fortune of Githunguri was estimated at around KSh 1.8 billion when he passed away. His will was dated June 9, 2017.
He appointed his daughters Lilian Joy Nyagaki and Claire Njeri as trustees of his estate and executors of his will.
He owed KSh 20 million in debts, which he instructed his daughters to pay off.
The late individual cautioned that anyone who did not agree with his final requests would lose their share of the fortune.
"He said that according to Clause 17, any beneficiary named in this will who files a lawsuit or starts any kind of legal proceeding in any court challenging the validity of this will shall be deemed a hostile beneficiary," as per The Standard report.
1. Karen home
Githunguri owned a plot of land measuring 9.6 acres in Karen, estimated at KSh 700 million, as stated in court papers submitted to Justice Grace Sitati, according to Bizna Kenya reports.
In his will, he specified that his children were required to allow their mother, Elizabeth Karungari, to stay on the Karen property and were forbidden from selling it.
If she passed away, the former legislator directed that the property be transferred to SM Githunguri Ltd.
2. Limuru town property
He bequeathed his town property in Limuru worth KSh 36 million to his sister Rosemary Wanjiku with the condition that her son Kelvin Githunguri would take ownership of it after her passing.
Furthermore, he commanded that she should not be removed from her house on his property in Limuru.
Nevertheless, he warned her not to sell or transfer any part of the farm to anyone else.
He ordered that his sister be permitted to reside in the small house she presently owns, situated on Limuru Farm, together with approximately half an acre of land, for as long as she desires, at which point it shall revert entirely to Limuru Farm.
3. The Kihara Market and Spring Valley properties
The property located in Kihara market within Kiambu county, which has an estimated value of KSh 31 million, was transferred to his remaining two sisters, Serah Njoki and Rose Wanjiku.
Each of his offspring was gifted properties located in Nairobi County's Spring Valley (valued at KSh 554 million) by him.
Nevertheless, he instructed the disposal of three Kajiado properties valued at KSh 27 million, distributing KSh 3 million quarterly to his offspring until the capital was depleted.
"To make this explicit, should a child fail to establish a legitimate claim to their portion and also leaves behind no descendants, their share shall pass on to the remaining direct offspring from their line. If they happen to have no living children at the time of their passing, then it would go to my surviving children," he explained.
4. Stocks of various corporations
Githunguri shifted the ownership of his stakes in various companies—namely Lilian (Holdings) Ltd, Taurus Estates, Geminia Insurance Company, Gikoi Development Company Ltd, East Africa Breweries Ltd, Nation Media Group, Munga Holdings Ltd, and Mukawa Holdings Ltd—to SM GithungUri Ltd.
All his banking accounts at ABSA Bank (previously known as Barclays Bank), Kenya Commercial Bank, Bank of Africa, Family Bank, and National Bank were also part of the same entity.
He transferred his shares at ABSA to Njoki and Wanjiku.
He assigned MM Githunguri Ltd responsibility for five estates in Lower Kabete, two in Muthaiga, one in Lavington, three along University Way, and one each in Mombasa and Lang'ata-Uhuru Gardens.
The list also includes assets for MM Githunguri Ltd located in Lang'ata, Ngong Road, Kwale, Limuru Farm, and Kiambaa (11).
5. Tassia, Mukawa, and EABL
He possessed shares valued at KSh 90,000 in SM Githunguri Ltd., amounting to 900 shares.
The politician held 58,000 shares in Mukawa (hotels) Holdings valued at KSh 5.8 million.
He additionally held EABL shares totaling KSh 1.3 million and 19,754 shares of Tassia Coffee Estate Ltd., which were appraised at KSh 395,080. Furthermore, his holdings in Geminia Life Insurance amounted to KSh 100 million.
Simultaneously, he held 10,000 shares in NSC Fitness Ltd.
Who is the wealthiest person in East Africa?
As for another update, Tanzanian entrepreneur Mohammed Dewji holds the title of being the richest East African, boasting an approximate fortune of $2.2 billion (KSh 285 billion).
The individual at the helm as CEO of Mohammed Enterprises Tanzania Limited (MeTL) is 49 years old.
The MeTL Group generates more than $1 billion (KSh 129.4 billion) in annual revenue through its sales.
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