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Jacob Juma’s Billions: The Businessman in Numbers
Sh100 million The value of his home sitting on 5.5 acres in Nairobi’s Karen estate. He had also invested a lot in real estate, including apartments in Nairobi’s Westlands and plots in Loresho and Karen. Juma also owned a residential property in South Africa’s Cape Town, which he sold in 2012 for a price that set a record.
Sh156 million Amount Kenya Revenue Authority claimed in three years as unpaid taxes, which led to a messy court case which the taxman lost after Justice Weldon Korir dismissed the suit.
Sh521 million Amount the National Cereals and Produce Board (NCPB) was ordered to pay Juma after the Ministry of Agriculture cancelled a contract to supply 40,000 tonnes of maize in 2004. Juma wanted to auction assets of NCPB, the holder of Kenya’s strategic grain reserves!
The contract had been awarded to Juma’s Erad Supplies and General Contractors. The judgment was made in favour of Erad despite the company not delivering a single grain to the board.
Erad Supplies has Grace Wakhungu, a sister to former Vice President Moody Awori and mother to Cabinet Secretary Prof Judi Wakhungu, as Juma’s co-director.
The two were also co-directors in Juma Construction, which was blacklisted by the then Ministry of Roads and Public Works for “shoddy and unfi nished projects.”
Sh1.7 billion Amount Pacific Wildcat Resources, a subsidiary of Juma’s Cortec Mining Kenya Ltd, lost in one day at the Canadian Stock Exchange when Juma’s mining licence was withdrawn in Kenya. Cortec Mining had a contract to extract nobium and rare earth metals in Mrima Hill, Kwale County. Juma had 30 per cent stake in Cortec Mining.
Sh200 billion Amount Juma sued the Kenyan government for at the International Centre of Investment Disputes following the cancellation of the mining licenceby then Mining Cabinet Secretary Najib Balala, who argued it was issued fraudulently. The special licence had been awarded in 2008 for 21 years. The Mrima Hill deposits in Kwale County were valued at close to Sh100 trillion. “I will bring down this government,” Juma had declared after lodging the lawsuit against Jubilee in 2013.
52 Number of countries Juma claimed his companies were spread in across the globe
– standardmedia.co.ke
