Billionaire businessman and industrialist, Naushad Merali has died this Saturday morning in Nairobi at the age of 70.
Sameer Group Chairman, Naushad Merali dies at 70
Naushad died while undergoing treatment at the Nairobi Hospital
A statement by the secretariat of the association of Shia muslims, Shia Ithna Ashri Jamaat, said the burial will be held on Saturday, July 3.
"It is the family’s request that Covid protocols be adhered to firmly hence, only immediate members of the family and those assisting with the burial proceedings to attend. The family thanks you for honouring this request," it read.
In 2015, the business man was ranked as the 48th richest man in Africa by Forbes in 2015, with his wealth at the time of the ranking being estimated to be about $370 million.
Merali was the founder of Kencell (now Airtel) and later retired as chairman in 2013.
He was also the chairman of the Sameer Group, named after his son.
Merali also bought the Firestone US stake in Firestone East Africa in 1985 with bank loans, rebranded the well-known tyre brand into Yana Tyres and made a fortune when the company was floated on the Nairobi Stock (now Securities) Exchange.
Philip Etale, ODM Director of Communications
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