Who makes the billions of money from importing and selling fuel to Kenyans? Of late, this has been the big question, with rising fuel prices and heavy subsidy payouts. But now the veil on the list of Kenyan politicians and tycoons who make billions from importing fuel can now be lifted.
A report that appeared in the Daily Nation on Tuesday showed that the ownership of the oil company Galana Oil has been at the forefront in raking in billions from importation and sale of fuel. For instance, Galana Oil is expected to bring into the country 103,072 metric tons of petrol and 16,052 metric tons of kerosene which Kenyans will consume in the month of September.
This is after the same company brought in 242,868 metric tons of petrol in April when the country had a biting fuel shortage. So who owns Galana?
This company is owned by Sai Ram Investment Company which holds 1,576 shares, Romichi Company which holds 1,576 shares and Tapiola Limited which holds 1,598 shares. Tycoon Joseph Gitau Mburu is the majority shareholder at Romichi, with 490 shares. Rose Wamuyu Gitau, Wanjiku Gitau and Wairimu Gitau each hold 170 shares.
George Ngige Kahira, Jonathan Ngige Kahira, Mary Waithera Kabiru, Isaac Mukui Nduru and Sheetal Khanna all also hold stakes in Galana Oil.
Texas Energy is the other big importer. The report in the Daily Nation shows that this oil company will bring in 85,124 metric tons of petrol in August for consumption in September. It’s CEO Abdi Hakim Ebrahim is the majority shareholder, with 22,092 shares. Bomachoge Borabu MP hopeful Nolfasson Obadiah Barongo has 12,098 shares. Nasro Dahir Ahmed has 9,468 shares, while his brother Johar Dahir Ahmed holds 8,942 shares.
List of guests who contributed nearly Sh. 1 billion at Raila dinner
Riva Petroleum is the other major importer. It is owned by the family of its founder, Peter Njeru Njagi. Njagi and his wife Dorcas Waguthi own 80,000 shares each. Their children Wangui and Wawira own 20,000 shares each. This company is not the same as Riva Oils which is owned by politician Kazungu Kambi.
E3 Energy Limited has also been importing oil into Kenya. It was originally owned by the family of tycoon Maganlal Motichand Chandaria. The family has since ceded majority ownership to a Dubai-registered firm by the same name. The Nation report shows that in 2019, the Chandaria family sold 85 per cent of the company to E3 Energy DMCC. “E3 Energy Dubai now owns 1.1 million shares in the Kenya-registered E3 Energy. Hetul and Bhavnish Chandaria each own 50 shares in the energy firm, hence they still reap some profit from the lucrative oil import business,” it says.
Hass Petroleum which was founded by brothers the late Abdirizak Ali Hassan and Abdinasir Ali Hassan has been the other major past importer. Hass Petroleum Tradin GR DMCC owns all 5,168,345 shares of Hass Petroleum Kenya Limited.
Hashi Energy is the other past importer. The company’s founder Ahmed Hashi Adan holds one share. His Mauritian holding company, Hashi Energy Holdings, owns 2,249,999 class A shares and 3,900,000 in the company.
Petro Oil Kenya Limited has also been a previous importer. This company is owned by tycoon Alnoor Habib Jiwan. Jiwan holds 900,000 shares through the British Virgin Islands-registered Petro Group Limited. His relative, Imran Alnoor Jiwan, owns 100,000 shares.
Petrocity which is owned by Mombasa-based tycoons – Aman Jafferali Kurji and Rishma Aman Kurji is also on record as previous oil importers.
