This village controls half of Kenya's economy- Dr Bitange Ndemo

The  new  generation  of  Rwathia  boys  include  Equity  Bank  Chairman  Peter  Munga, Equity Bank CEO    James Mwangi, billionaire investment banker Jimnah Mbaru and insurance magnate Benson Wairegi.

Read Also How illiterate Rwathia boys built business empire worth billions

Dr  Bitange  Ndemo,  a  senior  lecturer  at  the University of Nairobi’s Business School, noted  that  the  most  successful  business  people  in  Kenya  or  East  Africa  come  from  Rwathia,  despite  no  scientific  research  being conducted towards that end.

“This village arguably controls almost 20 per cent of Kenya’s Gross Domestic Product (GDP)  and  almost  40  per  cent  of  the  stock market  in  Kenya,”  explains  Dr  Ndemo  in  a  2014 article title The Mystery of Success.

Dr  Ndemo  further  argued  that,  “Their  forebearers like Gerishon Kirima and Gerald Gikonyo, one of the co-founders of Rwathia Distributors, were successful in spite of the fact that they had limited education. Rwathia’s third generation is succeeding, not just here in Kenya, but in far-flung areas like the United States.”

Dr  Ndemo  added:  “Equity’s  Corporate  Social  Responsibility  in  Wings  to  Fly,  which  is sponsoring students to attend some of the best  universities  in  the  world,  is  enough  to  shower blessings on its founders. So whichever  way  you  look  at  this,  Dr  Mwangi  and  his  teams  have  left  an  indelible mark  that  will  never  be  matched  by  any  organisation  in the foreseeable future.”