The story of Julius Mwale sounds like a script from a movie. The billionaire was once a barefoot boy from rural Western Kenya and rose against all odds to become one of the richest people in the country.
He is a billionaire entrepreneur, philanthropist, and global investor who is commanding the future of healthcare, technology, and sustainable cities across Africa.
Additionally, he is the principal investor of the Ksh258 billion ($2 billion) Mwale Medical and Technology City (MMTC).
Mwale’s journey is marked by resilience, innovation, and an unrelenting belief that technology can transform lives. However, it is also marred by controversy, unfulfilled promises, and lawsuits.
Early Life of the Billionaire and Breakthrough in Tech
Mwale, the son of a former military officer, began his professional journey in the Kenya Air Force, where he studied telecommunications engineering.
After developing an innovation, he declined to sell it to the government and sought political asylum in the United States in 2000.
However, the transition was not easy. He was reportedly homeless for a year before enrolling at Columbia University.
In New York, he founded SBA Technologies Inc., a firm that specialised in biometric authentication.
Mwale states on his website that the company partnered with leading US banks to secure digital transactions, laying the foundation for his wealth.
At the same time, back in Kenya, he decided to turn his focus to large-scale development.
In the early 2010s, he announced Mwale Medical and Technology City (MMTC) in Butere, Kakamega County, a smart city built around a 5,000-bed hospital.
Today, MMTC occupies more than 25,000 acres, featuring housing, malls, renewable energy plants, and various infrastructure.
Mwale indicated that with his partners, his vision for MMTC is to be part of a larger plan to build 18 smart cities in 12 African countries by 2050, powered by renewable energy and locally manufactured batteries.
Moreover, his work has earned him continental recognition.
In January 2025, Mwale received the Social Infrastructure Award at the Africa Prosperity Champions Awards in Ghana, with Ghanaian President Nana Akufo-Addo praising his bold and responsible investment in healthcare.
Also Read: The Billionaires of Kenya: Philip Ndegwa, Former CBK Governor Who Became Kenya’s First Billionaire
Expanding Beyond Kenya: Zambia and Senegal
In Senegal, Mwale was named among the partners in Akon City, a cryptocurrency-themed smart city spearheaded by musician Akon.
The project, valued at $6 billion, was expected to be developed by US-based KE International, the same firm working with Mwale on MMTC, although the Senegal project never materialized.
On the other hand, in 2024, Mwale signed a deal with the Industrial Development Corporation of Zambia (IDC), chaired by President Hakainde Hichilema, to invest in smart cities, mining, energy, and agriculture.
The move came shortly after KoBold Metals, backed by Jeff Bezos and Bill Gates, announced the discovery of one of the world’s largest copper deposits in Zambia.
Mwale’s consortium pledged $2.4 billion for projects tied to the green energy transition, including battery manufacturing plants for electric vehicles.
According to Billionaires Africa, Mwale’s net worth is estimated at $2 billion, with investments cutting across healthcare, technology, and infrastructure.
Mwale is currently spearheading plans to develop a state-of-the-art medical city in Ghana, building on similar ventures in Botswana, the Democratic Republic of the Congo, and Sierra Leone.
Also Read: The Billionaires of Kenya: Five Sons of Moi and 7 Companies They Run
The Pitfalls and Controversies of Julius Mwale
For all his grand projects, Mwale has faced criticism, lawsuits, and skepticism over the years.
Court records show that Mwale faced lawsuits in New York in 2009 and 2010.
One case involved alleged failure to pay rent for SBA Technologies’ offices, while another accused him of making unrealistic promises on investment returns.
Additionally, although MMTC is visible on the ground, critics have described parts of Mwale’s vision as overly ambitious.
Some media outlets have suggested the project risks being a “pipedream,” questioning timelines and financing sources.
However, the businessman insists MMTC is fully funded and points to ongoing infrastructure and healthcare developments as proof of progress.
Also, investigative reports have noted that some of Mwale’s patent applications in the US were either unsuccessful or abandoned.
Sceptics also argue that his claims of SBA Technologies being one of the largest biometric companies in the world are difficult to verify.
Despite the challenges, Mwale has also won courtroom victories.
In May 2025, a Ksh193 million ($1.5 million) lawsuit in the US against him and his wife, Kaila, was voluntarily dismissed after the plaintiffs agreed that claims had already been resolved in a prior settlement.
Mwale’s lawyers described the case as “frivolous and malicious,” underscoring his ability to withstand high-stakes legal disputes.
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