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Sunday, September 12, 2010

JIMMY THE MAN! KIBAKI'S AND MOBICOM

THE first family's hand has not been seen much in business as have their two predecessors save for the traditional businesses such as the Silver Springs Hotel but that can be claimed to discretion.

Nairobitech has established that the much touted Mobicom, lately a dealer of Safaricom and now in the Telkom Kenya camp has no less a personage than Jimmy Kibaki, son of Kenya's current president, behind it.

Speculation has been rife about the publicity-shy Paul Ndung'u, the chairman of Mobicom who also owns sizeable stakes in many listed companies on the Nairobi Stock Exchange but it would appear that he may be merely the front-man for Jimmy.

At their Gigiri premises, it turns out, Ndung'u plays second fiddle to Jimmy who is the effective chairman of a group called Lucia Enterprises.

Lucia Enterprises is the mother of two companies: Mobicom and BMK a company that runs a fleet of forex bureaus.

Those who know Ndung'u will recall he used to run a forex bureau along Kimathi Street together with an Indian businessman.

Before that he was at Uchumi Supermarkets.

Ndung'u and Jimmy are distant relatives.

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