Benard Odote: List of Companies Owned by Kenya's Silent Billionaire
- Kenya has thousands of millionaires and a few billionaires, and while some like publicity, others shun the limelight
- Benard Odote is among the silent Kenyan billionaires who control multi-million shilling businesses behind the scenes
- Odote is the proprietor of The Odote Group of Companies, which has several companies under its umbrella
With more than eight years of expertise in financial, business, and technology reporting, TUKO.co.ke journalist Japhet Ruto provides in-depth analysis of both domestic and international economic trends.
Kenya has the fourth-highest number of dollar millionaires and billionaires among African nations.
Source: Twitter
TABLE OF CONTENTS
Kenya has 7,200 high-net-worth individuals according to the Henley & Partners' Africa Wealth Report 2024.
Over the next decade, the country is predicted to see an increase in the number of millionaires by over 80%.
However, some billionaires such as Benard Odote, would rather keep a low profile despite their enormous wealth and power.
Who is Benard Odote?
On his website, Odote describes himself as a visionary entrepreneur who is driving transformation across industries.
"With unwavering focus and relentless drive, I will break barriers, shatter limits and rise to unimaginable heights," he states.
The silent billionaire, unknown to many Kenyans, controls a huge empire through The Odote Group (TOG), a conglomerate that encompasses procurement, agri-tech, energy, finance, automotive, logistics, healthcare, and retail.
"The Odote Group is the embodiment of an extensive network of linked businesses, all of which are crucial to the transformation of specialized financial services and global supply chain management. The House of Procurement (HOP) is a key component of this empire and plays a pivotal role in international logistics, distribution, and procurement," it stated.
Source: Twitter
According to Who Owns Kenya, his net worth is estimated at $1 billion (KSh 129 billion).
Which companies does Benard Odote own?
1. Homeboyz Entertainment
Odote is Home Boyz Entertainment PLC's director.
Homeboyz is a household name in the local communication, marketing, public relations, and entertainment industries.
According to its website, it was founded in 1995 as a DJ agency playing at private parties.
It has since grown into a full-service events management company, offering a wide range of services, including event production, marketing, branding, logistics and on-site management.
2. House of Procurement (HOP)
HOP is a conglomerate that works in industries like global procurement, spare parts distribution, and renewable energy technologies.
It handles import logistics at the port of Mombasa.
It also distributes agricultural products and provides financial services like microlending and equipment leasing.
HOP's portfolio includes companies such as Meridian Acceptances Limited, CropSoko Technologies, and PAWACOM.
3. WH Global Disposal Partners
Odote serves as the group managing director of WH Global Disposal Partners, a business that handles the disposal of valuable and non-core assets, including machinery, vehicles, factories, scrap metal, real estate, and recyclables.
With over 150,000 clients throughout Africa and the Gulf, WH Global Disposal Partners has partnered with companies such as WH Auctioneers and House of Procurement.
The majority of its clients are corporations, banks, and governments.
4. ESG Impact Exchange (EIX)
The billionaire is the managing director of ESG Impact Exchange (EIX).
The company offers a forum for world leaders and investors to match Africa's enormous potential.
5. Get Deals Kenya
The e-commerce company serves and connects various entities.
It links employers and workers, suppliers and consumers, distributors and retailers, associations and ride-hailing staff, schools and parents, SACCOs and their members, societies and clubs, FMCG companies and telecom behemoths, and banks and insurance companies.
6. Waste Wealth
Odote owns Waste Wealth, a scrap metal business situated in Mombasa that serves both local and regional markets.
The Port of Mombasa-based company deals with bulk scrap metal imports, with monthly volumes ranging from 35,000 to 55,000 tonnes.
Additionally, it handles the recycling, disposal, and rehabilitation of various commodities, including plastics, glass, used batteries, scrap metal, and e-waste.
7. Meridan Acceptances Limited
The business offers individuals and companies financial options.
These consist of invoice discounting, logbook loans, trade finance, asset finance, export/customs duty loans, emergency loans, school fees/back-to-school finance, and inventory finance.
8. CropSoko Technologies Limited
The agri-tech startup helps farmers with crop planting, management, and harvesting.
It connects farmers with manufacturers, consumers, and merchants and handles post-harvest inventory.
9. PAWACOM
PAWACOM offers extensive backup systems for a range of applications, smart technologies, renewable energy solutions, and enhanced metering.
Among its products are generators, smart home systems, solar panels and accessories, and meters for gas, electricity, and water.
10. SokoPanda
Odote is also the director of SokoPanda, a cutting-edge procurement and logistics platform designed specifically for Kenyan small businesses importing from China and the Association of Southeast Asian Nations (ASEAN) region.
The organisation offers import services for companies and individuals seeking to import goods from Asia.
Who are the other little-known billionaires in Kenya?
Earlier, TUKO.co.ke reported that while the majority of Kenyan millionaires are well-known to the general public, some shun the public limelight despite owning multibillion-shilling companies.
Despite not being in the spotlight, they have established massive businesses in a variety of sectors.
They include David Lang'at, Adil Popat, Pius Ngugi and Paul Ndung'u.
Proofreading by Asher Omondi, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
