Jacaranda Hotel the most popular in the empire Karume created
Late businessman Njenga Karume’s business empire was an intricate web of properties, hotels, real estates, farms and shares strewn across hordes of publicly listed companies.
The most popular entities associated with Karume is perhaps Jacaranda Hotel Limited in Westlands, which sits on a acre prime plot. Cianda House, located on Koinange Street in the city centre, is another of renowned Karume properties. It is an eleven floor building acquired over 30 years ago and which is rented out to various tenants.
Few people would have known that other than Jacaranda, Karume owned a number of other properties in Westlands area of the city. Amani House, located on Sports Road, Westlands, is also Karume’s property.
Cianda House was not the only building Karume owned in the city centre. He also owned Unity House on Mfangano Street.
In Mombasa, Karume owned the Indian Ocean Beach Resort located along the Diani beach in South Coast. The resort has a beach frontage of circa metres and sits on a 29 acre property registered under Jacaranda Hotel (Msa) Limited.
In Nakuru, Karume owned Lake Elementaita Lodge in Gi
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Kenyan Tycoons Who Lost Multi-Billion Businesses and the Reasons Behind Their Collapse
Kenya, renowned for its entrepreneurial spirit, has produced numerous tycoons who built vast business empires from humble beginnings.
Unfortunately, some of these empires have crumbled over time due to challenges such as lack of succession planning, internal fraud, fierce competition, and boardroom wrangles.
Read More:How Isaac Omolo Okero Helped Kenya Airways Make Ksh Billion in Just One Day
Here’s a closer look at some of Kenya’s most prominent tycoons whose multi-billion businesses collapsed:
1. Njenga Karume – Diverse Business Ventures
Njenga Karume, a former cabinet minister, was a successful entrepreneur who built an empire of 25 businesses, including ventures in real estate and hospitality, alongside stakes in 46 other companies.
What Went Wrong:
- Lack of effective succession planning led to the collapse of 24% of his businesses after his death in
- Ongoing court battles between trustees and family members slowed decision-making, leading to losses, loan defaults, and tax arrears.
Despite forming the Njenga Karume Trust, his estate has significantly declined from its es
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They love it when their stories are told. Sweet stories laced with truths, half-truths, rumours, and even outright lies. The reason for having biographies is simple. Most of us were something in life: a president, a president's wife, a founder of an outlawed sect, a soldier of fortune, a conman, a beggar man thief, a baby.
Many Kenyans, lead politicians, and corporate captains have published their memoirs. From controversial political commentator Miguna Miguna's stinger, Peeling Back the Mask, to former Kamukunji MP Maina Wanjigi's bio, Shepherd Boy in Search of Virtue.
Martin Oduor-Otieno, former KCB boss released, in , Beyond the Shadow of My Dreams, while Joe Wanjui, one-time head of Unilever has The Native Son: Experiences of a Kenyan Entrepreneur.
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