Kenya's Resilient Giants: 6 Companies That Have Stood the Test of Time

• Several Kenyan companies have been in the market for over a century and have employed thousands of people
• Among them are the Kenya Commercial Bank (KCB), East African Breweries Ltd (EABL), Bamburi Cement and Jubilee Insurance
• KCB Group has been offering banking services for 127 years and recorded a KSh 16.5 billion profit in the first quarter of 2024

TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers deep insights into Kenyan and global economic trends.

Several Kenyan companies have stood the test of time and have been instrumental in shaping the country's economic landscape.

The KCB Group leadership team. The bank started operations in Kenya in 1896. Photo: KCB Bank. Source: Facebook

Some of these companies have been in the market for over a century and have employed thousands of people.

Among them are the Kenya Commercial Bank (KCB), East African Breweries Ltd (EABL), Bamburi Cement, Jubilee Insurance and Diamond Trust Bank.

1. KCB Group - 1896

KCB Group has been offering banking services for 127 years, according to its website.

The lender started operations in 1896 as a branch of the National Bank of India. Its first branch in Nairobi was opened in 1904.

In July 1970, the Kenyan government signed a deal to become a 60% shareholder, giving it a new name: Kenya Commercial Bank. Former Cabinet minister John Michuki was its first board chairman.

The financial institution has since expanded into Eastern Africa and became the most profitable bank in the region after posting a KSh 16.5 Billion Q1 net profit.

2. EABL - 1922

The alcoholic beverage maker started operations in 1922 and is among the most profitable companies in Kenya.

It runs Kenya Breweries Limited, Uganda Breweries Limited, Serengeti Breweries Limited, United Distillers Vintners, East African Maltings Limited and East African Breweries International.

It has distribution partners in Burundi, the Democratic Republic of Congo and Rwanda.

Diageo PLC consolidated its shareholdings in its subsidiaries in EABL, simplifying the structure into a single indirectly wholly-owned Kenyan subsidiary company, Diageo Kenya Limited.

3. Nation Media Group - 1959

According to the media house's LinkedIn profile, His Highness The Aga Khan established the Nation Media Group (NMG in 1959.

Africa Financials reported that NMG owns a 93.3% share in Ugandan radio station KFM, located in Kampala, and a 76.5% share in Monitor Publications Limited.

It holds a 60% share in Tanzania's Mwananchi Communications Limited in addition to owning two television stations, NTV Uganda and Spark TV.

Nation Media Group publishes Business Daily, Daily Nation and The East African. NTV Kenya is part of the NMG.

4. Jubilee Insurance Ltd - 1937

Jubilee Insurance Ltd was founded in 1937 in Mombasa.

Over the years, it has grown its customer base to over 1.9 million clients across Kenya, Uganda, Tanzania, Burundi, and Mauritius.

In Kenya, its subsidiaries are Jubilee Health Insurance Limited and Jubilee Asset Management Limited.

The insurer is listed on the Nairobi Securities Exchange, the Dar-es-Salaam Stock Exchange, and the Uganda Securities Exchange.

5. Diamond Trust Bank - 1945

Diamond Trust Bank (DTB) is an affiliate of the Aga Khan Development Network.

DTB was founded in 1945 and has 84 branches in Kenya, 36 in Uganda, 29 in Tanzania and four in Burundi.

6. Bamburi Cement

A report by Construction Review Kenya showed that Bamburi Cement Limited is the largest cement manufacturer in Kenya, with a market share of 32.6%.

Its website indicates that Felix Mandl founded it in 1951. French firm Lafarge holds a 59.6% stake in Bamburi Cement Ltd. Bamburi Cement’s parent company rebranded to Holcim from LafargeHolcim in 2021.

Other major shareholders are Old Mutual Life Assurance Company, Kenya Reinsurance Corporation and the National Social Security Fund (NSSF).

Bamburi Cement’s annual combined total capacity from its two plants (Nairobi and Mombasa) is 3.2 million tonnes yearly.

6. Standard Media Group

Alibhai Mulla Jeevanjee, an immigrant businessman from British India, started the Standard Media Group in 1902 as the African Standard.

The Moi family and close associates are shareholders of Standard Group, which owns two TV stations (KTN and KTN News) and three radio stations (Radio Maisha, Vybez Radio, and Spice FM).

Standard Media also runs Standard Digital, The Nairobian and Standard newspaper.

The Moi family acquired it in 1995. Other shareholders are S.N.G Holdings Limited, Trade World Kenya Limited, and Miller Trustees Limited.