The late billionaire Stanley Munga Githunguri left behind a carefully structured KSh 1.8 billion estate, avoiding the succession battles that often tear apart wealthy Kenyan families. Court documents that emerged in late 2025 reveal a deliberate plan to centralise his vast assets including Lilian Towers and Ridgeways Mall under family-owned holding companies.
Stanley Munga Githunguri’s life embodied the classic Kenyan dream. He began as a child labourer picking coffee in Nyari and New Muthaiga neighbourhoods where he would later own vast tracts of prime land.
Before his death in late 2022, the former National Bank of Kenya Executive Chairman ensured that his wealth would not trigger a legal spectacle after his passing.
Now being implemented, his will reflects a man who valued structure over ego. Rather than dividing physical assets in ways that could fuel sibling rivalry, Githunguri placed his entire empire under a corporate framework designed to endure for generations.
The Portfolio: What’s at Stake?
Githunguri’s wealth was not built on cash alone. His estate valued at approximately KSh 1.86 billion is anchored in high-value real estate and blue-chip investments.
The crown jewels include:
- Lilian Towers – The iconic Nairobi building housing the Nairobi Safari Club
- Ridgeways Mall – A prime retail development along busy Kiambu Road
- Karen land – Prime acreage valued at over **KSh 700 million
- Blue-chip stocks – Significant holdings in EABL, Nation Media Group, and Geminia Insurance
The “Unity Clause”: How the Wealth Was Shared
Unlike many tycoons who favour specific heirs, Githunguri’s will prioritised balance and fairness. He placed most of his assets under two holding companies: SM Githunguri Ltd and MM Githunguri Ltd.
Key provisions of the will:
- Equal ownership –His six children, including Joseph Munga, Lilian Joy Nyagaki and Lilian Wanjiru, hold equal shares
- Quarterly dividends – The estate releases KSh 3 million every quarter from designated accounts to ensure steady income for all beneficiaries
- Corporate governance – Major assets cannot be sold without collective board approval, preventing unilateral decisions
- By spreading risk across multiple sectors, Githunguri shielded his family from overreliance on any single asset class.
Beating the “Succession Curse”
Kenya’s history is littered with once-powerful estates crippled by family infighting from the Koinange and Karume families to the long-running Michuki disputes.
Githunguri chose a different path. By turning his children into shareholders rather than individual landowners, he reduced the incentive for court battles.
Even when a brief legal dispute arose in 2021 concerning his health and capacity, the courts ultimately upheld his privacy and the integrity of his estate plan, allowing the transition to proceed as intended.
Githunguri’s true legacy is not just the buildings that define Nairobi’s skyline, but the stability he left behind. In a country where succession disputes often last decades, the fact that his family remains united may be his greatest achievement.
