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Industrialist (Founder Kencell & Sameer Group)
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Naushad Merali was a Kenyan billionaire industrialist, telecommunications pioneer, and one of the most brilliant, elusive dealmakers in East African history. Founding the Sameer Group, Merali built a staggering conglomerate that spanned agriculture (Sasini), real estate, finance, and manufacturing. He is most legendary for bringing mobile telephony to Kenya by founding Kencell in 1999 alongside Vivendi. Though he passed away in 2021, Merali’s legacy in 2026 remains deeply embedded in the DNA of the Kenyan economy. He is universally revered in financial circles for executing one of the greatest corporate maneuvers in history: in 2004, he utilized his pre-emption rights to buy Vivendi’s stake in Kencell for $230 million, only to instantly flip it to Celtel an hour later for $250 million, securing a massive $20 million profit in a single afternoon. His massive wealth is now heavily dedicated to the Zarina & Naushad Merali Foundation, sustaining crucial medical and educational infrastructure across the nation.
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Founded the Sameer Group building a massive highly diversified industrial and agricultural conglomerate that fundamentally anchored the Kenyan private sector
Pioneered the Kenyan mobile telecommunications industry by founding Kencell (which later evolved into Airtel Kenya) successfully establishing the nation's first major cellular network
In 2019, Naushad Merali was the victim of a high-profile fraud case in which suspects impersonated former President Uhuru Kenyatta to solicit a 'facilitation fee' of Ksh 10 million. The incident sparked public controversy and criticism from lawyers and activists, who questioned the circumstances of the payment and alleged it mirrored patterns of bribery.
In 2016, Merali faced significant criticism regarding the sale of his stake in Equatorial Commercial Bank (later rebranded as Spire Bank) to Mwalimu National Sacco. Critics and union leaders accused him of selling a failing, 'shell' bank to teachers and subsequently withdrawing his deposits, which contributed to the institution's financial instability and losses for the Sacco members.
Executed one of the most legendary highly profitable corporate arbitrage maneuvers in African history flipping a 230 million dollar telco stake in less than 24 hours
Established the Zarina & Naushad Merali Foundation which continues to fund massive state-of-the-art medical and educational facilities across Kenya
In 2011, Merali’s Sameer Business Park project became the subject of a public dispute and a threatened demolition by the government, which alleged the property had been constructed on a public road reserve.
In 2007, Merali was involved in a legal battle against the Kenya Revenue Authority (KRA) and the Ministry of Finance regarding the importation of sugar. The case arose from a disagreement over duty-free clearance for a shipment of sugar, highlighting tensions between his business interests and government tax policies.
