Chris Kirubi

Christopher John Kirubi is a Kenyan businessman, entrepreneur and industrialist. He is a director at Centum Investment Company, a business conglomerate, where he is the largest individual shareholder.[1]

Chris Kirubi
Born1941 (age 79–80)
Kenya
NationalityKenyan
CitizenshipKenya
EducationFriends School Kamusinga
Alma mater
Occupation
  • Businessman
  • industrialist
  • entrepreneur
  • investor
Years active1971–present
Known forBusiness
TitleDirector Centum Investment Company

According to the 2011 Forbes annual rankings of Africa's richest people in Kenya, Kirubi was ranked the second richest man in Kenya and 31st richest in Africa with a net worth of $300 million in the 2011 forbes inaugural ranking of Africa's 40 richest people.[2] He ranked behind only the Kenyatta family, who were ranked richest in Kenya in 2011 with a net worth of $500 million. However, in 2012 , Forbes dropped Kirubi from the list of Africa's 40 richest.[3]

He chairs: (1) DHL Express Kenya Limited, (2) Haco Industries Kenya Limited, (3) Kiruma International Limited, (4) International House Limited, (5) Nairobi Bottlers Limited, (6) Sandvik East Africa Limited and (7) 98.4 Capital FM. He is also non-executive director of (8) Bayer East Africa Limited, (9) UAP Provincial Insurance Company Limited and (10) Beverage Services of Kenya Limited.[4]

Early life and education

Chris Kirubi was born in a poor family. Both of his parents died when he was young. He began work while still in school, working during school holidays to support himself and his siblings. Upon graduation, his first job was as salesman, selling and repairing gas cylinders for Shell, the petroleum conglomerate.[5]

Career

During the 1960s and early 1970s, Kirubi worked as an Administrator at Kenatco, a government-owned transportation company. Starting around 1971, he began buying run-down buildings in the cities of Nairobi and Mombasa, renovating them and either selling the renovated structures or renting them out. He also began acquiring prime land in and around Nairobi, and proceeded to erect rental and other commercial properties, using loans from Kenyan financial institutions.[2]

Holdings

Kirubi's investments include but are not limited to the following: (1) Centum Investment Company: Chris Kirubi is the largest single investor in the company, whose stock is listed on both the Nairobi Stock Exchange and on the Uganda Securities Exchange.[5][2] (2) He owns 100% of Haco Industries Limited, a Kenyan household goods manufacturer.[5][2] (3) 98.4 Capital FM, is a Nairobi radio station, whose shares he owns 100%.[5][2] (4) Kenya Commercial Bank Group[6] and (5) Nation Media Group[6]

In March 2020, he filed an application seeking regulatory approval to acquire another 20 percent of Centums shareholding, to add to the 30 percent that he already owned at that time. The deal involves the purchase of 133 million shares valued at KSh2.7 billion (US$25.7 million).[7]

Former investments

At one time, Kirubi owned 9.58% of UAP Holdings, an investment and insurance conglomerate that provides investment and insurance services in the countries of Eastern and Central Africa. In 2015, he sold his shares to Old Mutual and exited the stock.[8]

In May 2020, Haco Industries sold the BIC brand (stationery, lighters and shavers) to French conglomerate Société BIC. The deal brought to an end 40 years of Haco’s BIC franchise.[9][10][11][12]

Philanthropy

Chris Kirubi is involved in a youth mentorship programme dubbed Ask Kirubi. He drives his passion of empowering youth in Africa through online authorship and physical talks in High schools and Universities in Kenya.

See also

References
  1. Victor Juma (19 September 2013). "Kirubi Builds KSh1 Billion War Chest for Centum Shares". Business Daily Africa. Nairobi. Retrieved 17 October 2014.
  2. Nsehe, Mfonobong (16 November 2011). "Meet Chris Kirubi, Mr. Kenya". Forbes. Retrieved 15 July 2017.
  3. Nsehe, Mfonobong (20 November 2012). "Africa's 40 Richest: The Dropoffs". Forbes.
  4. "Centum Investment Company Officers: Christopher Kirubi". Reuters. 15 July 2017. Retrieved 15 July 2017.
  5. SKC (22 February 2017). "Chris Kirubi Wealth, Net Worth, Biography and Family". Nairobi: Softkenya.com (SKC). Retrieved 15 July 2017.
  6. Victor Juma (11 September 2013). "Billionaire Kirubi Bets on KCB After He Sells Safaricom". Business Daily Africa. Retrieved 15 July 2017.
  7. Victor Juma (24 March 2020). "Billionaire Chris Kirubi to buy Sh2.7bn more Centum shares". Business Daily Africa. Nairobi. Retrieved 24 March 2020.
  8. Kangethe, Kennedy (5 February 2015). "Why I sold my stake in UAP Holdings – Dr Kirubi". 98.4 Capital FM. Nairobi. Retrieved 15 July 2017.
  9. Correspondent, B. T. (22 February 2017). "After fallout with South African partner, Kirubi buys back Haco". Business Today Kenya.
  10. Nsehe, Mfonobong (6 August 2019). "Kenyan Tycoon Chris Kirubi Receives Additional $2 Million In BIC Acquisition deal". Forbes.
  11. Today, Business (6 June 2019). "BIC deal tastes sweeter for Chris Kirubi". Business Today Kenya.
  12. "Kirubi receives Sh348m extra in BIC buyout deal". Business Daily Africa. 10 September 2020.
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