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The new generation of Rwathia boys include Equity Bank Chairman Peter Munga, Equity Bank CEO James Mwangi, billionaire investment banker Jimnah Mbaru and insurance magnate Benson Wairegi.
Ndemo in a 2014 article title The Mystery of Success, he expains that Rwathie controls almost 20 per cent of GDP and nearly half of stock market in the country.
“This village arguably controls almost 20 per cent of Kenya’s Gross Domestic Product (GDP) and almost 40 per cent of the stock market in Kenya,”
Gerald Gikonyo with his wife. The companies he co-founded with friends and relatives mainly from his Rwathia village in Murang’a County started with his first salary of Sh4. His current abode is in one of his hotels in the city centre from where he keeps the wheels of his companies humming along.
“Their forebearers like Gerishon Kirima and Gerald Gikonyo, one of the co-founders of Rwathia Distributors, were successful in spite of the fact that they had limited education. Rwathia’s third generation is succeeding, not just here in Kenya, but in far-flung areas like the United States, ” Ndemo adds.
Ndemo goes further to say that Wings to Fly, an initiative by Equity bank led by Mwangi is enoufh evidence that their wealth is in big numbers.
“Equity’s Corporate Social Responsibility in Wings to Fly, which is sponsoring students to attend some of the best universities in the world, is enough to shower blessings on its founders. So whichever way you look at this, Dr Mwangi and his teams have left an indelible mark that will never be matched by any organisation in the foreseeable future,” he adds.
The school is an A.C. K. sponsored school situated at Kihoya village, Rwathia location, Kangema district. It is in Kanyenyaini educational zone.
It all started with Gerald Gikonyo who quit his job with Kenya Planters’ Co-operative Union with a salary of Sh20 per month.