Mzee Daniel arap Moi's family will surrender the control of their logistic firm, Siginon Group, to a foreign company, if the takeover is approved by regulators.
The family sold majority shares (51%) to Turkish firm Celebi Ground Handling Inc that has interests in the aviation industry.
A report by British firm Kroll and Associates established that Joshua Kulei (Moi's long-term PA) and Gideon Moi each own12.5% of Siginon Group. Kabarak University, where Moi is currently the Chancellor, holds 75% shares in the multi-billion logistics company.
Paperwork between Siginon and Celebi is being processed as reported by the Turkish firm's Project Coordinator, Ferda Yakar, on his LinkedIn page. Yakar was also appointed the CEO of the firm's branch in Kenya.
He stated that Celebi is purchasing 51% shares of Siginon Aviation Limited
Yakar is also offering support to the Business Development Department to prepare a business plan for Nairobi and Eldoret Airports alongside preparing a 100-day transition plan. Yakar was appointed as the Turkish's firm CEO for Kenya and East Africa.
Siginon Group specialises in supply chain management with interests in supply chain logistics, ground handling, container freight stations, clearing and forwarding, trucking, warehousing, distribution, and project cargo logistics. It also provides air cargo solutions in Tanzania and Uganda.
According to Forbes magazine in 2017, Siginon Group (formed in 1985) began as a small clearing and forwarding company before growing into a regional leader in logistics with $100 million (Ksh10 billion) in annual revenues.
The company also runs Siginon Container Freight Station (CFS) located in Miritini, adjacent to the Mombasa Port which caters to importers and exporters moving local cargo or transit containerized cargo as well as vehicular cargo at the Port of Mombasa.
"We invested more than Ksh1 billion in a state-of-the-art air cargo terminal in Nairobi which includes a 5,000 square-metre general cargo warehouse, a 3,000 square-meter perishables centre.
"A 2,000 square-metre basement parking for transit vehicles and a specialized storage area for dangerous, valuable and temperature-sensitive cargo," Siginon Managing Director Meshack Kipturgo stated in an interview with Forbes magazine in 2017.
