A son-in-law to the late billionaire businessman Chris Kirubi has been appointed to the board of Centum Real Estate, pointing to a possible ongoing re-organisation of the deceased tycoon’s empire.
Centum Real Estate, a subsidiary fully-owned by the Nairobi Securities Exchange (NSE) listed Centum Investment Company, has appointed Andrew Musangi to sit on its board of directors to oversee running of the multi-billion shilling business that owns large chunks of land in Nairobi, Mombasa and Kampala, Uganda.
Centum was Mr Kirubi’s single-biggest investment, in which he controlled nearly one third of the company’s shares.
The billionaire investor and industrialist who also owned Haco Industries, DHL Express Kenya and the prime International House in Nairobi’s central business district died on June 14.
As a director Mr Musangi, who is the husband to Kirubi’s eldest daughter Mary-Ann Musangi, will now sit on the board of the property-rich company that is at the heart of the late Kirubi’s property portfolio.
Kirubi’s daughter is seen as the foremost steward of his father’s vast empire spread across various sectors including manufacturing, media, insurance, investments and real estate. The other listed child of the late billionaire is Mr Robert Kirubi.
Other directors of Centum Real Estate include James Ruitha, who is the chairman and independent Non-executive director, Frank Ireri (Independent Director), Samuel Kariuki (Managing Director), James Mworia (Director and Centum PLC CEO). Others are William Haggai, Mary Ngige, Moses Ikiara and Laila Macharia.
Mr Musangi juggles many roles among them being the ruling Jubilee Party’s national elections board chairman.
He is also a lawyer of 26 years standing having obtained his LLB (Upper Second Class Honours) from the University of Hull (UK) in 1993 and was admitted to the Bar in 1995 after, which he joined Sheth and Wathigo Advocates.
In December 1998, he formed Mukite Musangi & Company Advocates (MMC) as the Managing Partner with emphasis on Commercial and Corporate practice. Legal and commercial experience "Andrew brings considerable legal and commercial experience to the board of Centum Re. He has been in active legal practice for 26 years and is the chairman of GenAfrica Asset Managers and the chairman of Public Procurement Regulatory Board," said the Centum CEO, James Mworia, in response to Nation’s queries on Mr Musangi’s appointment to the board.Mr Musangi’s legal practice focused mainly on corporate and commercial law, including mergers and acquisitions, debt recovery and restructuring; securities, insurance litigation; employment and labour law; commercial arbitration; intellectual […]