Dr Rasik Kantaria
Chairperson
Prime Bank Africa | Nairobi, Kenya
Janam Bhumi:
Limuru, Kenya
Dharma Bhumi:
Gujarat, India
Karma Bhumi:
Nairobi, Kenya
Banking on Goodwill and Traditional Values
The ‘Rasik’ Factor: “There’s always someone who needs a little help getting started. If you can do that, without making noise, that’s enough.”
THE MAN
Dr Rasik Kantaria’s daily ritual starts with a cup of tea, and then a run, no matter where he is in the world. “My shoes travel with me. I’m out, running by 6am—that hasn’t changed since school,” he laughs and adds, “It grounds me and reminds me that I’m still here, still able to do something.”
But Dr Rasik is doing more than just ‘something’, and it is not just the routine that keeps him grounded and fuelled, it is also the values he inherited from his joint family upbringing. Dr Rasik’s grandfather, one of the earliest Indian migrants to Kenya, had arrived in 1898, seeking not just opportunity but stability and dignity. Dr Rasik’s father and uncles were born there, as was he, in the early 1940s in Limuru, Kenya. It was a home where elders led with wisdom, and younger members were expected to observe and learn. “We didn’t question it. It was natural. You followed your father’s word, respected your grandmother’s silence, and made space for others,” he shares. He still remembers evenings spent reciting ‘Bhajans’ (devotional songs), helping with chores, and walking to the temple barefoot. “We didn’t have much, but we had everything,” he says with a soft smile. Over the years, he has built businesses, is a respected industry leader, and has championed community and philanthropic causes, all guided by these principles.
THE JOURNEY
To say that entrepreneurship is in his DNA is to state the obvious; after all, his grandfather established Mombasa’s first Indian grocery. Having completed his early education in Kenya and India, Dr Rasik earned his BSc in Economics from the UK in 1965. This provided the foundation of a career so prolific that he was recognised for his business leadership with an Honorary Doctorate of Humanities in 2012.
Dr Rasik saw a gap in the Kenyan market that few would have. This led to the creation of Prime Capital & Credit Ltd in 1986 to address the specific financing needs of Kenya’s Indian business community. In 1992, he co-founded Prime Bank, pioneering relationship banking in East Africa. His customer-first approach became the key to the bank’s success. From one branch to 24 across Kenya, the bank has expanded into Malawi, Mozambique, Zambia, and Zimbabwe. It has launched fintech platforms like PrimeNet and PrimeMobi, reaching KES 169 billion in assets by 2023 with an ambitious target of achieving KES 17.99 billion income by 2030. Beyond finance, he has diverse business interests and has held board positions across tourism, manufacturing, and insurance. He also sits on the Board of the Deposit Protection Fund (appointed by the Central Bank of Kenya).
THE SPIRIT WITHIN
Dr Rasik doesn’t separate the spiritual from the practical. “Dharma is how you treat your clients. It’s how you pay your staff. It’s how you help a stranger,” he says. This philosophy informs all his charitable efforts. From healthcare to education to crisis response, his giving is woven into the ‘everyday’ fabric. The hospital he helped establish—Dr Rasik Kantaria Jalaram Medical Services—wasn’t just about building walls and filling them with machines. It was about dignity. “Everyone deserves care, regardless of their income. No one should feel small just because they are sick,” he says. As Chairman of Jaipur Foot Trust in Kenya, he has heard stories that stay with him: a father walking again after an accident, a child playing cricket after years of immobility. “Sometimes, a limb is not just a limb. It’s the return of joy, of work, of freedom,” he shares. In the education sector, he supports students through bursaries, lunch programmes, and girls’ schools. To Dr Rasik, loans and lifelines carry equal weight. So, when disaster strikes, he is at the ready. He has mobilised food donations during natural disasters, has coordinated terror attack relief, and led COVID-era responses. His professional and philanthropic achievements have been recognised numerous times, but for Dr Rasik, the philosophy of giving is not about the laurels. He says, “If you need applause to give, you’re giving for the wrong reasons.”
THE LEGACY
Legacy, for Dr Rasik, is in seeing his children and grandchildren pursue their journeys with the age-old family values. His wife, Usha, has been his steadfast partner as they have built businesses and nurtured their three children—Amar, Vijay, and Rakhee— each accomplished and carrying forward his vision through leadership roles in banking and sustainable architecture. A doting grandfather, Dr Rasik enjoys spending time with his grandchildren, telling them stories and letting them ask questions. Sometimes, he just listens. “They live in a new world, but I want them to carry the old compass,” he says. The Kantaria legacy is safe in the hands of the fifth generation. They are bilingual and modern, but their compass only speaks one language, scripted in values of honesty, integrity, and empathy by their parents and grandparents.
As for Dr Rasik, he is not done yet. He believes that progress is an ongoing journey of growth. “For me, it unfolds in three ways: spiritual growth as I age, the steady advancement of our business ventures, and maintaining my health because without good health, life loses its joy.” Dr Rasik and his trusted pair of running shoes keep him fit, motivated, and on the go.
MAPPING THE INDIA WITHIN
Bharat: Then and Now
“When I first set foot in India, it was transitioning from British rule. There was uncertainty but also hope. Now, when I visit, I see pride, confidence, and a new hunger to contribute globally. From doctors to software engineers, India isn’t catching up—it’s leading.”
Bharatiya Values that Travelled
“Gujarati was our mother tongue. Bhajans are our background music. You didn’t need to be in India to feel ‘Indian’. We carried our temples, our food, our rituals in how we treated one another.”
Generations Abroad: A New Bharatiya Identity
“My grandchildren may speak English fluently, but they fold their hands when greeting their elders. They love their ‘khichdi’. They understand that strength comes from knowing who you are—even if you live oceans away.”
Pride, Progress, and the Spirit Of Bharat
“When I see what India has achieved—building institutions, exporting ideas—I feel proud. We owe it to our roots to give back. India shaped us. Now we help shape the world alongside her.”
Dreams for the Youth and Future of Bharat
India’s rising as a world power — what I call ‘Magic India’ and I hope it will continue to rise. India’s youth plays an integral role in its progress. My advice to them is, “Never chase shortcuts. Let your ambition be large—but let your heart remain honest. If you can rise without arrogance, succeed without forgetting your roots, then you’re on the right path.”
BACK TO THE FUTURE – IN FIVE MOMENTS
Food Cravings
THEN
My mother’s ‘khichdi’ (lentil-rice porridge). It was comfortable, plain, and honest.
NOW
Still ‘khichdi’. My wife makes it now. We eat mostly at home—even in Nairobi, that hasn’t changed.
Sport Spirit
THEN
School days were packed with cricket, badminton, hockey, and long hours on dusty fields.
NOW
I play golf. And wherever I am, I begin the day with a walk or a run.
Music Tastes
THEN
‘Bhajans’ (devotional songs) and Lata Mangeshkar on the radio.
NOW
Forty-five minutes of Indian or Western classical music daily clears the clutter in the mind.
Holiday Life
THEN
We didn’t travel much, except to India. Holidays meant visiting relatives, not going to beaches.
NOW
I take a cruise every year. I go to slow down and listen to my thoughts.
Leisure Habits
THEN
Reading, family chats, and long walks through the neighbourhood.
NOW
I read, reflect, and help wherever I can. That’s leisure for me now—something that nourishes others.
AKA
Dr. Rasik Kantaria Prime Bank Africa | HSC Chairperson Prime Bank Africa Dr. Rasik Kantaria | Prime Bank Africa Chairperson Dr. Rasik Kantaria | Prime Bank Africa Board Leadership
