ANOTHER BILLION ADDED TO KIRUBI’S 25

kirubi-524x350At 72, Chris Kirubi carries himself with the charm of the boy next door, yet he is no small fish. In 2011, Forbes Africa Magazine named the soft spoken tycoon among the 40 richest people on the continent. The magazine estimated his net worth at over $300 million (Sh25.5 billion).

The chairman of Haco Tiger brands has interest in real estate, media and other ventures.

He owns Capital FM, DHL Kenya and International House Limited (a property firm).

He also holds shares in several firms, including Nairobi Bottling Company and UAP Insurance where he is a board member.

He says his star began rising during his years as an administrator at Kenatco in the 1970s. With the assistance of financial institutions, he was able to acquire dilapidated properties, re-build them and in some instances sell them off profitably.

This explains the massive wealth he has in real estate. He owns more than 40 residential and commercial properties estimated to be valued at $200 million (Sh17 billion).

He is also a major shareholder in the Nairobi Securities Exchange listed company Centum Group. In the past one month, Centum shares recorded an 18 per cent growth, piling up to double growth in one year.

This growth places the value of his shares at Sh6.4 billion from Sh5.4 billion, earning him Sh1 billion in a month! There are rumours that his announcement to increase his stake to 29.9 per cent last year resulted in the good performance of Centum at the bourse.

Kirubi, a man with deejay-ing skills, lifted Capital FM from its death bed in 1998 to become a leading radio station in Kenya today. He  employs more than 1,000 people in his companies. -Nairobi News

Author Description

Nairobi Digest

Kenyan Journalist