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Monday, September 18, 2023 –Opposition leader Raila Odinga’s current net worth, according to his own disclosure, stands at a staggering sh 2 billion.
The former Prime Minister remains one of Kenya’s most experienced politicians who, away from politics, is an astute businessman with vast interest in energy, reals estate and hospitality industries.
In the energy sector, Odinga holds significant stakes in East African Spectre – Kenya’s leading gas cylinder manufacture and revalidation firm, BE Energy.
It is one of the country’s top petrol station chains, and Pan African Petroleum – a company involved in import and distribution of various petroleum products.
Multi-million industry
As hospitality sector alongside real estate remains one of the most popular investment areas for prominent Kenyan politicians, Raila is among the leading in this lucrative industry. Other Kenyan politicians who have invested in hotels around the country include President William Ruto, former President Uhuru Kenyatta and former Baringo Senator Gideon Moi.
Among hotels associated with Odinga is the multi-million Grand Royal City Hotel in the Lakeside City.
The hotel sits on ancestral land owned by Odinga. It is popular with local elites, and has hosted several Kisumu County government events.
The Royal City Hotel – Town includes 49 rooms split up into standard, deluxe and executive rooms. It also incorporates 2 conference halls and a special hall – targeting the meetings, conventions and exhibitions market.
“The hotel is located at the heart of the ancestral home of the former Prime Minister, the right honorable Raila Amolo Odinga’s land in a serene, quiet and cool environment, best for excursion and tour, with diverse leisure and conference facility, a unique combination of pleasure and business,” the hotel website partly reads.
Sh 500M Beach Resort
Raila is also associated with an upcoming sh 500 million beach resort development in Malindi, Kilifi County. Once complete, it is expected to be one of the largest luxurious hotels on the Kenyan Coast.
A National Environmental Management Authority NEMA assessment report revealed details of the planned development, which will sit on a 4.3-acre land parcel, only 100 metres from the Indian Ocean shoreline. It is owned by Kango Enterprises, where Odinga serves as a director.
Feature will see the ground floor have a conference hall, service rooms, and offices – with the hotel eyeing the lucrative meetings, incentives, conferences & exhibitions (MICE) market. It will have 33 luxury rooms on the first floor, as well as a spa, scuzzy, sauna, and steam rooms.
On the second floor will be a presidential suite and 19 more rooms. The development also includes six blocks of two and three-bedroom luxury villa.
The facility also includes a standalone presidential villa that incorporates three bedrooms, a lounge, dining room, kitchen, and gazebo among other VIP amenities.
