African Female Billionaire Mary-Ann Musangi: 5 Things to Know

Mary-Ann Musangi is not just another billionaire, she is a trailblazer, a testament to the indomitable spirit of African women. Mary-Ann’s journey into wealth and leadership was not an ordinary one. It began with a profound loss, the passing of her father, the renowned Kenyan businessman Chris Kirubi, in 2021.

But Mary-Ann Musangi is not one to shy away from challenges. Instead, she embraced the opportunity to lead her family’s vast business empire. Her story serves as an inspiration to aspiring entrepreneurs, particularly women, across the African continent and beyond. As she continues to steer her family’s businesses toward greater heights, while the world eagerly watches her remarkable ascent in the world of Africa, let’s take a look at some things about her that are worthy of note.

She inherited a multifaceted business empire

Mary-Ann Musangi found herself at the helm of her family’s business empire following the passing of her father, the late Kenyan businessman Chris Kirubi, in June 2021. Kirubi’s legacy extended across various sectors, including media, manufacturing, real estate, and technology. The family’s substantial holdings, both in listed and unlisted firms on the Nairobi Securities Exchange, are estimated to be worth approximately Sh40 billion. Such a transition of leadership in family businesses is often fraught with challenges, but Musangi has shown determination and resilience in taking on this monumental responsibility.

How she navigated issues faced with transition of leadership in family businesses 

The transition of leadership in family businesses is a global concern, but in Kenya, this challenge is even more pronounced. The Knight Frank Wealth Report 2022, states that approximately 31% of Kenyan millionaires express concerns about succession, compared to the global average of 20%. Despite these challenges, Musangi understands the significance of addressing these concerns head-on and is committed to ensuring the continued success of her family’s enterprises. She is committed to making a positive impact on the businesses and employees she works with.

Mary-Ann’s journey into her father’s business empire was not sudden

Mary-Ann Musangi’s journey into her father’s business empire was not sudden, she had been actively involved in running the businesses even before her father’s passing. During an interview, she revealed that she had sat on the boards of the companies as a director while her father was receiving treatment for cancer. This hands-on experience allowed her to build trust among the loyal employees who had served her father for years.

Her early fascination with the world of business influenced her

Mary-Ann Musangi’s journey into entrepreneurship was influenced by her early fascination with the world of business. She shared, “Ever since I was young, I have always loved business. I always knew that I would be a business person, and I always knew that I would take over his businesses.” Her prior experience in building her own ventures, including a restaurant and catering business, equipped her with the skills and mindset required to tackle the challenges of running her family’s business empire.

Her father instilled in her value of learning through observation

Chris Kirubi, Mary-Ann Musangi’s father, emphasized the importance of education and instilled in her the value of learning through observation. Rather than directly inducting her into the family business, he encouraged her to absorb knowledge by listening to his business conversations with colleagues, serving them drinks and food, and asking questions. This approach not only fostered her interest in the business but also provided her with valuable insights and experience.