Billionaire Humphrey Kariuki Lands Govt Job

  • A collage of President William Ruto (left) and Business tycoon Humphrey Kariuki (right)
    A collage of President William Ruto (left) and Business tycoon Humphrey Kariuki (right)
  • Billionaire businessman Humphrey Kariuki will be part of the National Investment Council.

    President William Ruto appointed him as one of the 12 members of the council established under the Investment Promotion ACT.

    The directive was issued through a special gazette notice dated Thursday, December 1, 2022.

    Others in the council included Ahmed Farah, Karen Taylor, Sarah Ochieng, Eva Warigia, Sheila Kyarisiima and David Langat.

    President William Ruto during a meeting with Kenyans in South Korea on Tuesday, November 22, 2022
    President William Ruto during a meeting with Kenyans in South Korea on Tuesday, November 22, 2022
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    State House Kenya

    Sitoyo Lopokoiyit, Paul Russo, Tom Mulwa, Peter Njonjo, and Francis Njogu will join Kariuki at the National Investment Council.

    Notably, the council will serve for a period of three years as the appointment took effect on Wednesday, November 30, 2022.

    "In exercise of the powers conferred by section 26 (e) of the Investment Promotion Act, 1, William Samoei Ruto, President of the Republic of Kenya and Commander-in-Chief of the Defence Forces, appoint the aforementioned members of the National Investment Council," read the gazette in parts.

    In 2017, Forbes listed Kariuki's net worth at Ksh7 billion.

    The business mogul owns the Janus Continental Group, the Hub Shopping Mall in Karen, among a chain of luxury hotels like the Fairmont Mount Kenya Safari Club. He has made a mark not only in Kenya other parts of Africa.

    According to the Investment Promotion ACT, the 12 are selected to distinguish themselves in their field and to represent the private sector.

    Some of the council's functions include advising the government and its agencies on increasing investment and economic growth

    Additionally, the council was mandated to promote corporation between the public and private sectors to implement government policies on the economy and investment.

    A photo of the Mt Kenya Safari Club
    A photo of the Mt Kenya Safari Club
    File