The 90 days that gave Chris Kirubi a millionaire’s breakthrough!

I was so scared I would be shot in the streets after buying International House I brought a partner

By Shifa Mwihaki

Feature writer/Essayist

@Undercover KE

Having gained what he considered enough experience working for Shell selling gas, Sterling Winthrop selling drugs, Chris Kirubi got tired of the little room for upward mobility and quit formal employment. He was then  MD for Kenatco. He left with three months paid leave-and his secretary. 

With 90 days at his disposal, Kirubi set up shop at a small office in Kencom House and equipped it with telephone lines and a fax machine, but three weeks of endless office tea and little else, his worried secretary who had quit Kenatco with him “because I believe in you” wondered aloud: “Boss, but what business are we in?”

Kirubi had no idea as he had been doing little else besides flipping through the dailies from back to back in those three weeks. A break came while having coffee with some loaded friends who were selling insurance. They were rolling in dough with the free time for golf and holidays.

They reckoned Chris would be a wonderful agent selling insurance since he knew so many people. Shortly, they introduced him to their American managers at International House where the insurance company was based.

It was at the height of the Coffee Boom in 1970s Kenya where coffee farmers became overnight millionaires. It so happened that Brazilian coffee had been hit by coffee frost creating a global shortage since the football mad country is also one of the biggest coffee growers. The shortage created demand for Kenyan coffee as prices shot through the Cappuccino roof.

Overnight coffee millionaires some of whom had minted their dough smuggling coffee from the Ugandan border town of Chepkube were taking to showrooms at DT Dobie and driving out with twin-exhaust Mercedes Benzes. Others bought houses in Karen, Runda, Lavington, more coffee farms, buildings, companies…and life and general insurance!

 “Within one year, I was the best insurance salesman,” recalled Kirubi. “Within two years, I was made a board member and after three years, the company was closing and the Americans sold the insurance business which was renamed Cannon Assurance” he recalled. “The Americans had such belief in me they asked me to buy International House. I told them I had no money but they introduced me to managers at Barclays headquarters in London and I was so scared I would be shot in the streets I brought a partner.”

The 17 storey International House has been the financial oven through which Kirubi’s wealth was baked. Designed by Kenya’s Dagliesh Marshall Architects, it is the most expensive rental per square foot in the country.

The restlessness to be his own boss, the three month leave and the chance pep talk with his rich boys was the big break that got him into insurance, and with it, enough capital alongside bank loans to enter into real estate; buying a plot, erecting a house which he sold. The profit launched him into buying dilapidated buildings and refurbishing them for resale.

Kirubi has spread his appetite across property management and real estate, manufacturing, computer applications, insurance, logistics, agrochemicals, pharmaceuticals, media and large scale agriculture

Shortly, he got into equities and was once the largest individual shareholder at Barclays and KCB banks. He still is the largest shareholder at Centum through which he has interests in Two Rivers, Kenya’s largest shopping mall, Almasi Beverages (which has since been offloaded), the bottlers of Coca-Cola products including Dasani and which has cornered a 30 percent market share and Sibis International Schools in Runda Nairobi with expansion plans to Uganda, Tanzania and Egypt.

  Centum controls 17 percent of Isuzu East Africa and which has a 34 percent market share of new vehicles in Kenya and in real estate there is Athena Properties, Vipingo Development, Cascadia and River Bank Apartments and Pearl Marina Estate in Uganda.

We can’t forget Longhorn Publishers, Amu Power, Akiira Geothermal Ltd, Nabo Capital, Sidian Bank and Green Blade Growers Ltd.

 The above investments are through Centum where he controls 34 percent.

Individually through himself, International House Ltd and Kiruma International, Chris Kirubi has spread his appetite across property management and real estate, manufacturing, computer applications, insurance, logistics, agrochemicals, pharmaceuticals, media and large scale agriculture.

We are here talking about Haco Industries, Smart Applications International, UAP Insurance, DHL, Bayer East Africa, Capital FM and the 600-acre Bendo Farm in Thika. The flagship of his real estate forays is of course, International House along Mama Ngina Street and its International House Ltd whose portfolio now has Shanzu Gardens in Kyuna comprising 20 town houses with a club house and entertainment area, swimming pool and children’s playground. The nine Avocado Villas just off Brookside Grove and 17 others at Riverside Court on Riverside Drive have similar facilities.