Dr. Rasik Kantaria is the founder and chairman of Prime Bank Limited and the current owner of Yaya Centre located in Kilimani, Nairobi.
A Kantaria-led hospitality consortium acquired the mall from the family of former Minister Nicholas Biwott in a private transaction.
He has substantial investments in the financial sector, spanning three African countries namely Kenya, Malawi, and Botswana, which makes him one of the wealthiest men in Kenya.
His grandfather moved to Kenya from India in 1896 at the age of 16. In his childhood days, he worked in a small shop in Limuru, Kiambu County, alongside his brother.
The two brothers went on to open a sawmill and charcoal business before establishing a spare parts business in Nairobi.
Some of the businesses they founded include Empire Auto Spares and East African Building Society, an aluminium factory in Mombasa started in 1958.
Businesses Owned and Founded by Kantaria
Kantaria inherited his business acumen from his grandparents, whom he used to assist as a child.
He established Prime Capital and Credit Finance in 1988, which later evolved into Prime Bank.
Kantaria is a co-founder and former Chairman of First Capital Bank (previously known as First Merchant Bank Limited Malawi).
He is also Chairman of Tausi Assurance Company Limited.
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The businessman has also served as a director at the Deposit Protection Fund Board, appointed by the Central Bank of Kenya and is the chairman and director of several companies across the tourism, real estate, and manufacturing sectors.
Kantaria’s family has made significant investments in the chemical and fertilizer industries, as well as horticulture.
The family also owns Leisure Lodge, one of the most exclusive hotels along the Coast.
Education and Honours
He is a longstanding Rotarian and has been awarded an Honorary Doctor of Humanities Degree by The United Graduate College & Seminary for his outstanding contribution to humanity.
President William Ruto has also bestowed upon Dr. Kantaria the Head of State’s Commendation (HSC) civilian award for his exemplary service to the nation.
He holds a Bachelor of Economics degree from London.
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Family and Children
Kantaria is the father of three children: two sons and one daughter.
His two sons are involved in the banking sector, while his daughter is an architect behind several iconic projects including Radisson Blu Hotel.
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