Sasa let’s start. Who is really “behind” this company here in Kenya? You and I know they wouldn’t operate here without some “Godfather” huko behind the scenes. My bet itakuwa some big wig politician.
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French connection UK. Fcuk[ATTACH=full]432519[/ATTACH][ATTACH=full]432520[/ATTACH][ATTACH=full]432521[/ATTACH]
Gulf Energy
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https://financialday.co.ke/594/shahbal-njogu-make-billions-from-rubis-deal/
[SIZE=7]Shahbal, Njogu make billions from Rubis deal[/SIZE]
[SIZE=6]Other Kenyan shareholders who will also rake in probable hundreds of millions include Duncan King’ori Mukira who owns 12.5% and Paul Kiprotich Limoh who owns 12.5%.[/SIZE]
by Financial Day
3 min read
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Suleiman Said Shahbal (left) and Francis Koome Njogu, will likely earn billions of shillings following the final approval given to the French multinational Rubis to buy out the oil marketer.
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Two top Kenyan shareholders in the Gulf Energy Holdings, Suleiman Said Shahbal and Francis Koome Njogu, will likely earn billions of shillings following the final approval given to the French multinational Rubis to buy out the oil marketer.
Shahbal owned his stake through a company called Monte Carlo Investments Limited, where he owns 100% of the ordinary shares, while Njogu owned his shares directly, according to records from the Business Registration Service seen by the FinancialDay.
The deal was first announced in November 2019 but was given final approval on February 25th by the Competition Authority of Kenya.
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Although the parties declined to disclose the value of the deal, it is estimated to be worth billions of shillings based on the huge infrastructure investments and goodwill Gulf Energy had built in the local petroleum and renewable energy sector.
Shahbal, Njogu insights
Suleiman Said Shahbal is a multi-millionaire who will readily answer your calls and reply to a social media message.
The founder of East Africa’s first Islamic bank, Gulf African Bank, and an ardent fan of Arsenal FC made his initial fortune in the Middle East banking sector.
After unsuccessful two attempts to become the Governor of Mombasa County, Shahbal, an author who radiates optimism, was rewarded by President Uhuru Kenyatta with the chairmanship for the board of Kenya Trade Network Agency (KenTrade), a state agency under the National Treasury that is mandated to facilitate cross border trade.
But it appears that his even bigger fortune is being made in Kenya, thanks to his 25% stake in Gulf Energy Holdings which has now been bought by Rubis, the same company that bought Kenol/Kobil.
Gulf Energy is popularly recognized by its ‘g’ branded and green-themed petrol stations across the county.
Njogu will also likely earn more hundreds of millions of shillings from the deal from his 20% stake in Gulf Energy Holdings.
Koome, who has been the managing director of Gulf Energy, had also been tapped to become the managing director of Amu Power Company, a joint venture between Gulf Energy, Centum Investment to develop a 1050 MW coal power project.
The mega project that was to be established at Manda Bay in Lamu County has, however, run into headwinds following sustained lobbying by environmental activists opposed to the ‘harmful’ coal power, which has led to the withdrawal of key financiers.
Njogu, a native of Meru County is the owner of Alba Hotel, the most modern in Meru town according to reviews where once can get a meal of imported wild salmon fish.
In 2015, Njogu led Gulf Energy in signing Sh36 billion deal with Meru County to develop a 100 MW wind power plant. Peter Munya, the Agriculture Cabinet Secretary was the then Governor of Meru.
Although there has been less activity relating to this project, it is not clear yet if it has links to the Meru County Energy Park, whose 80MW wind farm construction started in January 2020 by a company known as Windlab.
The other joint developer is the Meru County Investment and Development Corporation, a county government investment agency.
Other Kenyan shareholders who will also rake in probable hundreds of millions include Duncan King’ori Mukira who owns 12.5% and Paul Kiprotich Limoh who owns 12.5%.
Limoh has been the chief executive officer of Gulf Energy. Mukira is a reclusive investor from Othaya, Nyeri County.
The rest of the 25% stake in Gulf Energy Holdings was owned through a company called Nama Kenya Limited, a U.K registered company that is minority-owned (20%) by a Kenyan named Ahmed Said Bajaber, who is a director at the Gulf African Bank.
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We go electric
Tutaona hii kitu mara ngapi? Tumesema kamau ako na shares hata kama haijaandikwa popote
https://www.kenyatalk.com/index.php?threads/rubis.220993/
Generally, in all this convoluted manenoz involving Rubis, Rubis ownership, deportation of Rubis CEO, mystery ship offloaded refined oil, currently prevailing shortages etc etc should be interpreted as clear evidence of GOK criminal MO (modus operandi) and state capture.
What former CJ called “bandit economy”
Those responsible will make the millions they seek and get away with it and nobody can do shit about it.
Those things require citizens to develop a coping mechanism to just say “yote tunawachia mungu”
If RUBiS KENYA was part of RUBiS INTERNATIONAL and not a KENYATTA company, deporting RUBiS CEO would cause a DIPLOMATIC CRISIS with FRANCE. UHURU is just replacing JEAN with KAMAU.
Dont trust the government. They need a scapegoat, the government will always try and look good.
The French guy has received a payout then they will use his name as the one hoarding fuel.
The connection between Uhuru and Macron is at its peak. That deportation is to make the government not to answer to its citizens,
Kenol Kobil was owned by Biwott and later became Rubis. Its is owned by Keter and hasla. NB hasla and Keter have been in charge of energy ministry since 2013.
Anus licker acha urongo mchanamchana, hii ni Kenyatta family wanafinyilia wakenya
Unless you’ve seen the man at the airport with bags, this is just some clout to sell the newspaper.
depot all those stupid saboteurs
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