Coast Birrionaires (long read)

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Okiya

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Coast (Mombasa) business tycoons who once lived as kings and who literally controlled close to half business transactions in the coastal region are said to be facing hard economic times since Uhuru Kenyatta took over power in 2013. Investigations reveal that most of the coast tycoons had in 2013 believed that Cord presidential candidate Raila Odinga was headed for the presidential victory only for Uhuru to be declared the ultimate winner.


However, their troubles are linked to buying of land in Lamu for port construction which backfired when Senator James Orengo was then lands minister.


Sources say the tycoons heavily funded and bankrolled Raila’s campaigns to the tune of hundreds of millions of shillings with promises that once ODM formed the government, they would be considered and rewarded with multi-billion tenders to recover the campaign money they offered to Cord.

The tycoons who are known to have wielded both economic and political power during the retired president Daniel Moi regime are said to have closed more than half of their businesses after they lost lucrative government tenders.

During the 1992 campaigns, the tycoons funded Kanu and Moi’s campaigns running into hundreds of millions and were later rewarded with government contracts especially at the Kenya Ports Authority. In order to consolidate political power, the tycoons apart from sponsoring presidential
campaigns, also sponsored parliamentary candidates to ensure all powerful and outspoken MPs were compromised and silenced, a game in which they perfectly well succeeded in.


Apart from winning government tenders, the tycoons also used the power of their wallets to compromise top government officials mainly at the port of Mombasa and at the Kenya Revenue Authority where their companies were involved in serious tax evasion ranging into billions. Because of the political power they wielded and being politically correct and connected, no KRA officials would dare investigate their companies lest you are kicked
out of the job.


The same scenario was witnessed in 1997 but things changed in 2002 when the Narc took over power from Kanu through Mwai Kibaki. Sources, however, divulged that the tycoons managed to penetrate the Narc administration through the links of the controversial Othaya MP Mary Wambui.


It was during Kibaki’s first term in office that the tycoons again became influential and did business with the Narc administration. The same was again witnessed in 2007 when Kibaki run for the second term and upon formation of grand coalition government, some of the tycoons aligned themselves with Raila while others remained loyal to Kibaki.


Then come 2013 elections, majority of the coast tycoons were in Raila’s camp where they bankrolled his campaigns. This was the beginning of their tribulations as the Jubilee administration had blacklisted them and could not do business with the government. Following Jubilee’s rejection of their request for contracts consideration, life has never been the same again for them. Most of them have been reduced to beggars while others are pale
shadow of self.


Investigations reveal that most of their businesses were closed because they could no longer win the lucrative tenders with the government. Some are
under investigations by KRA and are facing serious cases of tax evasion while others have had their properties and businesses auctioned by commercial banks over non-payment of rents. Others linked to international drug trafficking after pocketing police officers based in Mombasa have found themselves in trouble or even in courts facing extradiction to foreign countries as those involved in ivory international trade are languishing in jail.

Tahir Sheikh Said One of such tycoons is Tahir Sheikh Said who sources say is facing serious financial constraints. Last week, word leaked out that
the Kenya Commercial Bank had taken over his milling company citing its default of a Sh1 billion loan. Bank sources divulged that KCB has in excess of Sh1billion non-performing loans with TSS Unga Millers.


Following the takeover, none of the directors, shareholders, employees and no other person is authorised to transact any business on behalf of the company without express written consent from the administrator. KCB had in May issued a notice indicating that it had taken over management of the
miller. “Notice is hereby given that the above company was placed under administration by Kenya Commercial Bank Limited on May 30 2016,” the bank said in a recent statement.


To show how badly TSS is doing, sources claim that the businessman is said to have Sh8 billion in total non-performing loans with a number of banks
booked under other subsidiaries in his business empire. Those who have done business with him say that he made his wealth through land ownership.
According to wealth in Kenya Report of 2014, he is listed as one of the largest land owners in the country.


His fortunes began to dwindle when the Jubilee administration cancelled title deeds to large tracts of land in Lamu that were associated with him. Some of the land is said to have been used to secure loans in excess of Sh5 billion from two public listed banks. Other banks said to be considering auctioning him is NIC Bank where he has failed to repay Sh1.4 billion and National Bank who are demanding Sh300 million.


It has now surfaced that TSS has been entangled in several court cases, most of them involving land ownership. His multi-billions shillings investments in transport and petroleum is said to be crumbling as well as the TSS Transporters, a passenger bus service that plies the Nairobi -Mombasa route, and TSS service stations, one near Pangani on the outskirts of Nairobi.


Ali Punjani
He was politically correct and connected during the previous regimes though many know him as a an alleged drug dealer, a claim that he has rubbished as “hearsay and malice” by business rivals. He is also said to be undergoing difficult economic times as his multi-millions business empire is almost collapsing. The billionaire owns several five-star hotels in the UK, Dubai and Africa and had also acquired Sun-n-Sand Hotel to his business. He has of late taken a back seat and is hardly seen public these days. He is known to be spending most of his time at the hotel contemplating on what to what to do next.

Punjani also owns Nyali International Hotel, Rising Star Commodities, Punjani Electrical Limited, Real Estates, Helicopters Sales and one of the Marshalls Group owners. The group holds the franchise for some of the biggest names in the automotive industry, including KIA, TATA trucks and buses, TRW Lucas, Delphi, Prestolite and Fulmen in East Africa. During his heyday, he used to drive a Rolls Royce Phantom, BMW X6 2012 Edition and Ferarri Trouble for Punjani began when he was mentioned adversely over the Lamu land saga, after documents showed that he sold one of the controversial parcels for approximately Sh870 million.

The buyers allegedly never set foot on the land before buying it, but only surveyed it by helicopter. Punjani, and a Gulbani B Punjani are allegedly directors in Rising Star Commodities, which transferred 40,140 acres (16,200ha) to Calyon Enterprises. Owners of Calyon then used the document to secure Sh870 million from Diamond Trust Bank to pay Rising Star.

Currently, Punjani fortunes have dwindled. His marriage has hit rocks with his personal assistant a one Amin dying in controversial circumstances. Amin was his brother-in-law. It is said before his death, Punjani blamed Amin for having messed his business empire by spending a fortune on buying land in Lamu whose title deeds were cancelled by Jubilee government. The key playersin the land deal was James Orengo then Lands minister and Mohammed Hatimy a former football official.Of late, Punjani cannot be found on his mobile phone and sleeps for 18 hours at his Nyali home. His office at Shimazi area that was beehive of activity in Kibaki era with who is who visiting is a pale shadow of its former itself.

We have established, Punjani owes ABC Bank a loan running into billions of shillings and soon will be declared bankrupt. He took a loan to buy a hotel from businessman Kamlesh Pattni. He is reportedly has resorted to drug abuse since his mother died.


Ashok Doshi
Mombasa-based billionaire, Ashok Doshi, is also experiencing hard financial times as most of businesses have closed down. He was recently in the news when his Sh1 billion was locked in the under receivership Imperial Bank. He has since sued the Central Bank of Kenya. Ashok is associated with the Doshi Group, a company with interests in manufacturing and trading, including the sale of building materials and power cables. Founded in 1923 in Mombasa, the Doshi Group has grown organically and through acquisitions, it has become one of Kenya’s biggest manufacturing firms.


Mohamed Jaffer
Mohamed Jaffer is yet another coast tycoon whose business empire is said to be on its knees. He is the proprietor of the multi-million dollar investment that is the Grain Bulk Handlers Limited. During the Moi and Kibaki regimes, he was one of the wealthiest and best-networked tycoons in Coast region and beyond.

His financial woes began when he delinked himself from the Kibaki administration in the run-up to 2007 general elections when he supported and bankrolled Raila’s campaign kitty to the tune of hundreds of millions. He is known to enjoy a close friendship withRaila.

During the grand coalition government, he is known to have won several tenders courtesy of his friendship with Raila. In fact a joke is being cracked that he used to request Raila to go to his home and the then PM always honored the request. Apart from Raila, he is also known to have funded a number of politicians including cabinet minister and those aspiring for various political seats. Those who know him well say that apart from being a businessman, he was also a serious power broker in Coast politics.

He is the founder of the MJ Group, Kenya’s largest provider of cargo handling services. The group’s flagship company owns a grain terminal that specialises in the discharge and handling of bulk grain cargo at the Port of Mombasa, a coastal Kenyan town. The facility was built at a cost of over $35 million in the 1990s and is now valued at over $140 million. The MJ Group also owns several cargo handling terminals and container freight stations in Kenya, Uganda and the United States as well as LPG Terminals and a grain terminal at the port of Lake Charles in Louisiana in the United States.

Mohammed Sajjad
Life has not been very kind to the Mombasa commodity trader whom sources now say is facing financial constraints as most of his businesses are collapsing. His business empire faced serious setbacks when he surrendered Sh1.6 billion prime public property, including recreational parks and a clinic, after years of court battles. To avoid further court battles where he was paying millions to lawyers who sources say made a kill by representing him in various cases, he also handed back 18 title deeds for the plots acquired irregularly to Governor Hassan Joho and the Ethics and Anti-Corruption Commission in the year 2014.

Sajjad, through his company Comen Limited, had initially challenged attempts by the anti-graft agency to repossess the land that had been set aside for public amenities. The land parcels was reserved for public recreation, bus parks, municipal council parking, ferry services, public school, prison and clinics.

The defunct Mombasa Municipal Council is said to have sold Uhuru Gardens to Comen Limited in 1995 for Sh55 million in order to pay striking workers’ salaries. Feeling the heat, Sajjad has relocated to Dubai where he is doing business.

Mohammed Bawazir
He was associated with Bawazir Glasses and owned Bawazir Plaza and Milly Millers. He is found in Kibokoni area. He has sold his properties and his son plans to run for MCA seat.

Abubakar Joho
He is the brother to Mombasa Governor Hassan Joho. His name had previously featured prominently in the list of suspected drug barons. His name also appeared in the Armenian brothers’ saga– the Aturs. He was mentioned as longtime business associates of Mary Wambui. Abubakar is a director of Chelamed (K) Ltd, one of the companies recently mentioned in connection with airport security passes dished out freely to individuals and companies associated with the Artur brothers.

Recently, the government allegedly ordered the immediate closure of container depots associated with him and his brother Hassan. Sources say it was suspected the depots are used to smuggle contraband goods into the country. In January this year, the Ethics and Anti-Corruption Commission and Kenya Revenue Authority intercepted smuggled sugar worth Sh56 million at a Container Freight Station in Mombasa.

Alnoor Jiwani
Jiwani had allegedly perfected the art of dumping oil in Kenya and had then powerman Nicholas Biwott as his godfather. He allegedly evaded taxes and his Alber Petroleum was linked to many scandals. He has gone silent of late, so as his godfather, the ailing Biwott.

The Akashas
Life has never been the same to the larger Akasha family following the killing of their patron Ibrahim Akasha in The Netherlands. Akasha was killed in 200o as he walked hand-in-hand with his wife when a gunman on a motorbike sped by. The two had just stepped into Bloedstraat, (Bloodstreet) in one of Amsterdam’s redlight districts, when the man whipped out a pistol and fired at Akasha at close range.

It was believed Akasha was caught in the crossfire of a vicious war between Dutch and Yugoslav gangs. Reports indicated Akasha had fallen out with Yugoslav barons active in The Netherlands and other parts of Europe over the non-payment of a consignment of heroin worth Sh200 million. The Akasha dynasty had also suffered its biggest setback when Kenyan and US agents raided the family residence in Nyali, Mombasa and arrested the late drug baron’s son and heir Baktash. Also arrested were his younger brother Ibrahim, Indian drug felon Vijay ‘Vicky’ Goswami and Pakistani national

Gulam Hussein
It is now believed that despite Ibrahim’s death years ago; the Akasha family remained powerful, apparently deploying its immense wealth to control police and some judicial officials in Mombasa and Nairobi. By no means, will the family fall into ruin with this arrest.

Following Akasha’s murder in 2000, the family, which is composed of sons from three wives, descended into a violent succession war that led to the death Kamaldin who was shot at a petrol station in Makupa, Mombasa. Kamaldin was perceived to be a notorious and cunning son.

Nurdin Abdalla Akasha, popularly known as Tinta, was investigated and detained for Kamaldin’s murder but released without charge. Kamaldin, Kamal and Baktash are said to have been their father’s favourite sons, with reports indicating that Kamaldin had been poised to inherit Akasha’s mantle before he was killed.

Baktash was investigated for Kamal’s death but was also set free without charges. He was, however, to be caught up in another controversy soon after when his wife Suad, was found dead and hanging by a string in his house in Nyali. She was buried amid controversy over the cause of death. Following pressure from family members, the body was exhumed and an autopsy conducted. The results of the autopsy have never been made public and investigations into her murder have not been concluded to date.

SS Mehta and Sons
The SS Mehta Company which was established in 1959 dealing in civil engineering works and directly involved in road construction is also facing financial difficulties and in dire doldrums.

Sources say the company enjoyed political goodwill from the Moi family and was illegally awarded multi-billion road construction tenders during the Moi regime. Their tenders were cut down following the entry of the Narc government under the leadership Mwai Kibaki.
 

Riddim

Village Elder
#3
Coast (Mombasa) business tycoons who once lived as kings and who literally controlled close to half business transactions in the coastal region are said to be facing hard economic times since Uhuru Kenyatta took over power in 2013. Investigations reveal that most of the coast tycoons had in 2013 believed that Cord presidential candidate Raila Odinga was headed for the presidential victory only for Uhuru to be declared the ultimate winner.

Sources say the tycoons heavily funded and bankrolled Raila’s campaigns to the tune of hundreds of millions of shillings with promises that once ODM formed the government, they would be considered and rewarded with multi-billion tenders to recover the campaign money they offered to Cord.
now my hard questions have answers:)
list ya the new billionaires
1. Meri Mata
2.
 

Mjuaji

Village Sponsor
#6
I'm glad I read the whole thing but I'm not sure whether to believe any of it. The writer seems to express in the same breath "kwisha wao" and "these people are rich!". Its like feeling around in the dark, there is something there you just cant tell what.

Halafu kuna hii;

"He is known to be spending most of his time at the hotel contemplating on what to what to do next."

"Punjani cannot be found on his mobile phone and sleeps for 18 hours at his Nyali home
."
Hizo details !:D
 

Meria Mata

Elder Statesman
#14
@Meria Mata, Saturday ilikuwa siku ya kuuza mali ya mmoja wa hawa matycoons hapo Kiembeni! Nakumbuka ukiweka thread hapa kuhusu huyo mhindi. Nasikia walinunua stay orders saa tano usiku kutoka kortini! Ulisikia hiyo saga?
yap, was armed and ready to buy the loads of cement in the yard, huyu birrionaire anadaiwa 22m peke yake, vile tunasemaga hapa mombasa ni "ushoga tu" akonaye ya kukataa kulipa, alafu according to the notice on the gate auctioneers fee ni 2.5m (Jeeeso)
its true shida zake zilianza after new katiba, county gava ilimdai land rates for all his numerous parcels na akalemewa, NCA nao wakaingia in the mix.
 

Swansea

Village Elder
#16
Power & money. (With it comes a lot of s@x. @Female Perspective). :D That knows not tribe nor hatred. Just common interests.

A game of musical chairs that the average Kenyan does not comprehend when they wage "social media wars" and hate mongering against the "other tribe".

Endeleni kupigana kwa internet when the real power brokers only care about how much money can I get on my returns for investing in you and your interests.
 
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kingolonde

Village Elder
#17
Some are facts and some are stories
Mohamed Hussein Jaffer is currently worth not less than 18 Billion Shillings, and his fortunes are growing.
Ashok Doshi fortunes have not been affected that much by the 1B in Diamond Trust. The dude has vast, and by vast I mean vast resources and very deep pockets
These two I know personally. Nothing more will be said!
 

Da Vinci

Village Elder
#19
yap, was armed and ready to buy the loads of cement in the yard, huyu birrionaire anadaiwa 22m peke yake, vile tunasemaga hapa mombasa ni "ushoga tu" akonaye ya kukataa kulipa, alafu according to the notice on the gate auctioneers fee ni 2.5m (Jeeeso)
its true shida zake zilianza after new katiba, county gava ilimdai land rates for all his numerous parcels na akalemewa, NCA nao wakaingia in the mix.
Yaani wewe ndiye aliyekuwa na hiyo Actros? Wow! :D:D:D:D
 

Da Vinci

Village Elder
#20
Some are facts and some are stories
Mohamed Hussein Jaffer is currently worth not less than 18 Billion Shillings, and his fortunes are growing.
Ashok Doshi fortunes have not been affected that much by the 1B in Diamond Trust. The dude has vast, and by vast I mean vast resources and very deep pockets
These two I know personally. Nothing more will be said!
Doshi is being affected by the ongoing slump in the value of the shilling to the dollar! The disadvantages of having to import almost all of your raw materials for your factories. Hapo ongezea competition from China!
 
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