Kenya’s capital, Nairobi City, is home to multiple landmarks, but a few stand out due to their strategic locations among other aspects. A good example is the iconic Yaya Centre and Capital Centre, both surprisingly owned by the same tycoon family.
Although thousands of Kenyans pass through these malls each day, from shoppers and businesspeople to office workers, few actually know who owns them.
Times Digital Kenya examines the tycoons who own both Yaya Centre and Capital Centre.
Ownership & Background
Yaya Centre, one of Nairobi’s iconic landmarks, and Capital Centre Mall on Mombasa Road are both owned by the Kantaria family.
Led by billionaire Rasik Kantaria, the family of Indian origin has roots tracing back to 1896, when their grandfather first came to Kenya.
Besides Yaya Centre and Capital Centre, the Kantaria family has invested in multiple businesses in Kenya, including Prime Bank, Elgon Kenya, as well as the manufacturing and tourism sectors.
Thanks to his vast wealth earned from various business ventures, Rasik Kantaria is regarded as Kenya’s first dollar billionaire, with a net worth surpassing $1 billion.
Yaya Centre
Initially, Yaya Centre was founded by the well-known Kenyan politician and businessman Nicholas Biwott in the early 1990s. He oversaw the growth of the shopping mall until his death in 2019, after which his family sold it to the Kantaria family a few years later.
According to sources, the deal was initiated in 2020 and finalized in 2023, resulting in the Kantaria family fully acquiring the Yaya Centre complex, including the shopping mall, Yaya Towers, and the hotel. The tycoon family purchased the iconic shopping mall for an undisclosed amount.
Capital Centre
Opened in January 2004 on Mombasa Road, the Capital Centre is a shopping destination for both locals and visitors.
Situated on 140,000 sq. ft., it has 60 stores and offers various services, including a food court, pharmacy, electronics, home décor, and beauty services.
Just like Yaya Centre, the Capital Centre is another mega property owned by the tycoon Kantaria family.
