Table of Contents
Key Points
- Manu Chandaria turned a family shop into a billion-dollar conglomerate with operations in over 40 countries across Africa and Asia over seven decades.
- Now in his 90s, Chandaria is steering Comcraft toward IPOs, aiming to access capital and scale industrial output in emerging economies.
- Beyond business, Chandaria has donated over $100 million through his foundation, blending Jain values with African social needs.
Manu Chandaria has been one of Africa’s most influential industrial leaders for decades. Over the past 70 years, he has transformed a small family shop into Comcraft Group, a billion-dollar manufacturing powerhouse operating in more than 40 countries across Africa and Asia.
At 96, Chandaria is still at the helm, guiding Comcraft into its next phase. He has plans to take key subsidiaries public, aiming to tap into capital markets and strengthen the group’s industrial presence in emerging economies.
A business built across generations
Born in Nairobi in 1929 to Indian immigrant parents, Chandaria’s entrepreneurial journey began early. After earning degrees in engineering in India and the U.S., he returned to Kenya in the 1950s with a clear goal: to expand the family’s trading business into steel, aluminium, and other industrial goods.
His timing was crucial. As newly independent African nations focused on industrialization, Comcraft quickly became a key supplier of steel pipes, roofing sheets, and aluminium products. Over the years, it grew into a vertically integrated multinational with over 30,000 employees and operations stretching from Kenya to India and Nigeria to Indonesia.
Today, Comcraft is one of Africa’s most diversified industrial groups, yet it remains privately held. That may soon change.
Listing the future
Chandaria is now preparing to list several of Comcraft’s subsidiaries on stock exchanges within the next two to three years, with a focus on steel and aluminium. “A business of this scale can’t stay private forever,” he says.
The group’s only public fundraising effort so far was a $14 million bond issue by its Kenyan subsidiary, Kaluworks, in 2012. Recently, after financial difficulties led Kenyan banks to write off $55 million in loans to Kaluworks, Chandaria regained control of the company and has since begun its recovery.
These developments aren’t just about overcoming challenges—they signal readiness. Chandaria believes going public will provide the capital needed to modernize and expand, especially as Africa’s demand for infrastructure and housing continues to rise.
Philanthropy rooted in values
Chandaria is also known for his ethical leadership. A devout Jain, he sees philanthropy as a moral responsibility, not a marketing strategy. Through the Chandaria Foundation, he has donated more than $100 million to support education, healthcare, and entrepreneurship across Africa.
The foundation partners with over 25 organizations and maintains charitable trusts in every country where Comcraft operates. It’s a model of corporate responsibility that combines Eastern values with African community needs.
In 2022, Chandaria received the Carnegie Medal of Philanthropy, joining a select group of global leaders recognized for using their wealth to drive meaningful change.
Honors, headwinds, and staying power
Chandaria has been honored with royal and state awards, including the Order of the British Empire (OBE) and Kenya’s Elder of the Burning Spear.
However, his journey has not been without challenges. Tax disputes and financial setbacks have occasionally put pressure on his empire. But through it all, Chandaria’s steady leadership and long-term focus have kept Comcraft competitive in a changing business environment.
He is also dedicated to peacebuilding, serving as a key advisor to the Global Peace Foundation, where he works to empower youth and promote interfaith harmony.
Legacy in motion
For Chandaria, success is not about personal wealth—his net worth is not publicly disclosed—but about creating a lasting impact. At 96, he still chairs several companies and mentors the next generation of African entrepreneurs.
The story of Comcraft’s growth from a small Nairobi shop to a billion-dollar global company is a powerful reminder of what can be achieved when vision, values, and perseverance come together. As Chandaria guides Comcraft toward public markets and renewed regional investment, he continues to exemplify how business can be a force for good.
