Pwani Oil founder Naresh Malde dies at 74

Malde, an industrialist who shaped Kenya's successful homegrown brands, died on Saturday, October 25, in Mombasa.

The company confirmed his passing on Saturday, October 25, 2025, surrounded by family. Malde has been described as “a visionary leader whose principles and leadership helped shape one of Kenya’s most successful homegrown brands.” 

The tycoon co-founded Pwani Oil with his brothers, Ramesh Kanji Malde and the late Anil Hansha, in 1981.

Pwani Oil is a consumer goods company headquartered in Mombasa, Kenya. The company initially began as a small coconut-oil mill on the coast before transforming into the Jomvu Pwani Oil Products factory, mainly producing corn, palm and sunflower oil.  

Malde and his brothers founded the company with a vision to provide quality products that promote healthy cooking and hygienic living.

Under his Pwani Oil modernized its refineries, diversified into personal care, and adopted renewable energy to improve efficiency for over four decades.

Beyond business, Malde was known as a philanthropist, supporting education, healthcare and community initiatives across the coastal region.

Former Tourism Cabinet Secretary Najib Balala honoured the tycoon as "a visionary entrepreneur whose integrity and hard work made Pwani Oil a source of pride for the region."

My heartfelt condolences to his family, friends, and the entire Pwani Oil fraternity. His legacy will continue to inspire generations of entrepreneurs along our Coast and beyond," Balala wrote on X.