Billionaire Richard Ngatia Makes Comeback After Appointment

Richard Ngatia has been appointed as the new President of The East African Chamber of Commerce Industry & Agriculture (EACCIA).

Following his appointment, Ngatia takes over from Tanzanian Toufiq S. Turky, to lead the apex chamber in which all East African Community (EAC) countries are member states.

While congratulating Ngatia on his new appointment, Turky urged the new EACCIA President to lead the region in realizing the objective of a trade-led regional integration.

“I am happy to pass on the baton to Ngatia so that he can facilitate the creation of an atmosphere in which our regional chamber can contribute effectively and efficiently in realizing the objective of a trade-led regional integration of East Africa to further strengthen our unity,” Turky said after handing over the baton to Ngatia.

Notably Ngatia previously served as the president of the Kenya National Chamber of Commerce (KNCCI), a position he held for over four years.

Furthermore, Ngatia was appointed to the World Chambers Federation (WCF) for a two-and-a-half-year term early 2023.

Also Read: Nairobi Stock Exchange Responds After Being Ranked Worst Globally

Ngatia’s Other Prestigious Jobs

Likewise, the business mogul is the first Kenyan to sit on the council of the powerful lobby for trade chambers.

Richard Ngatia has also served as the chairman of the General Assembly of the Great Lakes Region Private Sector Forum, a position he attained in 2019.

He is one of Nairobi’s most prominent and recognizable businessmen, with a string of major investments across the hospitality, healthcare, and real estate sectors.

Furthermore, the business guru made an unsuccessful bid for the Nairobi gubernatorial seat in the 2022 elections.

He is a renowned ally to former President Uhuru Kenyatta as he reportedly financed his re-election campaign in 2017.

Similarly, Ngatia suffered another blow in July this year when he sought a second term as President KNCCI, the umbrella body that represents businesses across the country, and lost to Erick Ruto.

Ngatia and the KEMSA Scandal

Additionally, Ngatia serves as the Managing Director of Megascope Healthcare Limited, a supplier and distributor of medical equipment.

In a September 2020 Senate report, Megascope was linked to the Sh63 billion Kenya Medical Supplies Authority (KEMSA) medical kits scandal. 

A report by Transparency International indicated that the firm was one of those that were awarded contracts worth over Ksh 1 billion at KEMSA.

In addition, the corruption watchdog stated Megascope was awarded nine contracts.

However, the businessman denied the claims insisting that the firm was not part of the infamous KEMSA scandal.

“It pains me that some people are playing politics with the lives of Kenyans. Megascope is a multinational company operating in over 15 countries,” Ngatia said then

“We provide sophisticated medical equipment and train our health workers on how to use them,” he added. 

Also Read: Taking Stock of Devolution: Successes and Areas of Improvement 10 Years on

Richard Ngatia the Businessman

Nonetheless, Ngatia is the brains behind the Galileo chain of hotels.

Notably, the most famous one is the Galileo Lounge which is located along Waiyaki Way in Westlands.

The club, popular with prominent figures including politicians and businessmen, claims to offer the city’s best nightlife experience.

It features luxurious, spacious design with stylish fittings and private spaces. 

The city tycoon is also the deputy patron of the Kenya National Federation of Jua Kali Association.

He is also a board member at the East Africa Chamber of Commerce, Industry and Agriculture and a trustee at the Pubs and Restaurants Association of Kenya (PERAK).