Business magnate Humphrey Kariuki has been appointed as one of the twelve members of the National Investment Council for a three-year term that took effect on Wednesday, November 30, 2022.
He joins the council’s existing eleven members, which also includes KCB Group CEO Paul Russo, who was appointed by President William Ruto via a gazette notice dated December 1, 2022.
Other council members include Francis Njogu, Karen Taylor, Sarah Ochieng, Eva Warigia, Sitoyo Lopokoiyit, David Langat, Tom Mulwa, and Peter Njonjo.
“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 part of the gazette notice.
They will provide advice to the government and government agencies on how to boost investment and economic growth in Kenya, in addition to promoting cooperation between the public and private sectors in the formulation and implementation of government policies relating to the economy and investment.
Kariuki was once on the radar of KRA on allegations of evading approximately Ksh.17 billion in taxes and bringing tainted ethanol into the country, resulting in the closure of the African distiller.
Humphrey Kariuki, 62, is the founder of the Janus Continental Group, a conglomerate that owns The Hub, one of Nairobi’s premier shopping centers, Africa Spirits, a major producer of alcoholic beverages, Dalbit Petroleum, one of the continent’s largest oil distributors, and Great Lakes Africa Energy, a company based in the United Kingdom that develops and manages power projects in Southern Africa.
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