After more than three decades under the ownership of the Nicholas Biwott family, the iconic Yaya Centre in Nairobi has been sold to a consortium of private investors, which includes the prominent Rasik Kantaria Family.
The Kantaria family has a long-standing history of entrepreneurial success in Kenya, with their first enterprise established in the country in 1896.
Over a century ago, Kantaria's grandfather embarked on a courageous journey, braving an unwelcoming sea, and migrated from India to Kenya aboard a battered boat.
This brave and determined act marked the beginning of their family's legacy in the region, and they have since become known for their significant contributions to the business landscape in Kenya.
After arriving in Kenya, the elder Kantaria settled in Limuru, where he started a small shop with the dream of lifting his family out of poverty by making enough money.
Through sheer hard work, the small retail shop soon evolved into a successful sawmill and charcoal-selling enterprise.
Having achieved remarkable success in Limuru, Kantaria's grandfather decided to move to Nairobi, where he established an auto spares shop.
Inspired by his grandfather's entrepreneurial acumen, Kantaria followed in his footsteps and entered the service industry. He founded Prime Capital and Credit Finance Company, which eventually evolved into a successful commercial bank.
Fast forward to the present, the Kantaria family has expanded its portfolio by acquiring the strategic Yaya Centre. In addition to their ventures in Kenya, the Kantaria Family has also established banks in Malawi, Botswana, Zambia, and Mozambique.
Apart from the service sector, the Kantaria family has also invested heavily in the industrial sector. The family has an aluminium factory in Mombasa and also founded the East African Building Society.
Kantaria’s family has also invested significantly in the chemical and fertiliser industry, as well as the horticulture sector.
The family also owns Leisure Lodge, which is one of the most exclusive hotels in the Coastal region.
Kantaria's investment endeavours extend to more sectors. They have interests in the milling, tea, transport, plastic, and real estate industries.
Through their numerous multimillion-dollar companies, the family has created direct employment opportunities for approximately 3,000 Kenyans, positively impacting the local economy.
With their recent acquisition of the building with one of the highest occupancy rate in Nairobi, the family is poised to further increase their workforce and influence in the region.
Aside from being a successful entrepreneur, Rasik Kantaria is also recognised as a compassionate philanthropist. His contributions include the Jaipur Foot Project, which has transformed the lives of over 30,000 handicapped individuals by providing them with rubber-based prosthetic legs, enabling them to lead normal lives.
Moreover, Rasik Kantaria has made significant contributions to the education sector by establishing schools for the needy and has donated millions to various hospitals across the country.
