Kenyan Billionaire Businessman Naushad Merali is Dead

Kenyan billionaire businessman Naushad Merali is dead.

Merali is reported to have passed away at his Nairobi residence on Saturday morning aged 70 years.

The tycoon was the Chairman and co-founder of Sameer Group, a conglomerate of more than 10 companies with operations and subsidiaries in many African countries.

Merali was also the founder of telecommunications company Kencell, now Airtel Kenya—the second largest mobile service provider in the country.

Forbes Africa ranked the deceased business mogul as the third richest person in Kenya and 48th in Africa, with a net worth of about $370 million as of 2015.

The Shia Ithna Ashri Jamaat secretariat confirmed that Merali will be laid to rest on Saturday, July 3rd.

“It is the family’s request that Covid protocols be adhered to firmly hence, only immediate members of the family and those assisting with the burial proceedings to attend. The family thanks you for honoring this request,” the secretariat said in a statement.

The family promised to hold a later memorial service in his honor to accommodate a larger gathering.

President Kenyatta eulogized Merali as a gifted businessman whose businesses created thousands of jobs for Kenyans, contributing significantly to the stability of the Kenyan economy.

“Mr. Merali’s business acumen created thousands of direct and indirect jobs for our people and wealth that helped uplift many of our households from poverty. Alongside his celebrated business exploits, Mr. Merali was a philanthropist whose generous giving earned him the ‘Chief of the Order of the Burning Spear’ state commendation,” said Kenyatta.

Merali leaves behind a wife Zarin Merali and children Yasmin and Sameer Merali.