Chris Kirubi’s heirs and heiresses have started taking control of his multi-billion business ventures, months after the business mogul died.
The takeover started with Haco Industries, which is led by Kirubi’s daughter Mary-Ann Musangi as the managing director.
In January 2022, the company made six appointments to the board, most of them being relatives of Chris Kirubi and people who were close to him.
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Among the major appointments include Robert Kirubi, the Head of Global Customer Programs at DHL Service Logistics. Robert Kirubi is Chris Kirubi’s only son, and had declined to work for the family business and focused on building his career in Europe.
Andrew Mukite Musangi was also appointed to the Haco Board. Musangi is Chris Kirubis son-in-law, having married Mary-Ann, Kirubi’s daughter.
Achieng Butler was among the six appointments made to the board. Butler is the founder and CEO, Digital Beehive Africa, and is believed to have been a close business associate of the late Kirubi.
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Angela Wainaina will also sit in the board alongside Feisal Baghazal and George Odo. Feisal is the Managing Director at Capital Group Limited, a radio station owned by the late Kirubi.
In July 2021, Andrew Musangi was appointed to the board of Centum Real Estate, a subsidiary of Centum Investment Company, which is fully owned by the late billionaire.
Kirubi was until his death a director at Centum Investment Company, a business conglomerate, where he was the largest individual shareholder.
In recent revelations, it was discovered that in his 1996 will, Kirubi bequeathed his son Robert Kirubi and daughter Mary-Anne Kirubi 80 percent of the estate while gifting his second daughter Fiona Kirubi Ksh4 million.
However, Robert and Mary-Ann agreed to give Fiona 9.95 percent of the estate (Ksh1.6 billion), which they split equally from their shares. Kirubi left Ksh500 million for each of his four siblings.
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Before his death, Kirubi had an interest in media, manufacturing and technology. He had investments in unlisted companies estimated to be worth Ksh13 billion and Ksh 3.4 billion in firms listed at the Nairobi Securities Exchange.
The late Kirubi had Ksh1.8 billion worth of investment in Bayer East Africa Limited, 4.5 million shares worth Ksh801 million in Haco, and Ksh1 billion in both International House Limited and Kiruma International Limited. He also held 1,406 shares in Bendor Estates Limited worth Ksh5.6 billion.
In terms of land ownership, Kirubi had accumulated parcels of land across the country worth Ksh3.1 billion.
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