Moi Family Sells One of Its Investments at Ksh1.7 Billion

The noble family of the late retired President Daniel Arap Moi has sold a stake in its aviation company named Siginon Aviation.

Moi Family Sells One of Its Investments at Ksh1.7 Billion
Baringo Senator Gideon Moi.

The stake was sold to a multi-national company based in Kuwait at an exorbitant price of Ksh1.7 billion.

The Moi family co-owned Siginon Group with the former personal assistant to Moi identified as Joshua Kulei. Moi owned 88 percent while Kulei owned a 12 percent stake of the company.

Records from the company registry indicated that the company was owned by Prize Holding Limited, which has a 42 percent stake, Trade World Kenya with 10 percent, Kabarak Farm (26 percent), Sacho High School Trust (six percent), Mogotiyo Plantations (10 percent) and Moi High School Kabarak, all of which are owned by Moi family.

The firm is involved in handling shipments globally and is stationed at Jomo Kenyatta International Airport (JKIA) which is its headquarters. It offers transportation services by air, sea, road, and rail as it operates as Siginon Global Logistics worldwide.

"As we cleared cargo, we started getting a lot of requests from our customers who wanted their cargo transported from point A to B. So we bought some trucks to move the shipment to the final destination.

"Then from there, we had the customer asking us whether we could hold the cargo for them for some time because they didn’t need the goods urgently; so we started investing in warehouses.

"We also went into ground handling because we were putting a lot of cargo into aircraft and airlines require terminal handling services such as ground handling, ramp handling, and air cargo handling," Siginon Managing Director Meshack Kipturgo told Forbes.The noble family of the late retired President Daniel Arap Moi has sold a stake in its aviation company named Siginon Aviation.

The stake was sold to a multi-national company based in Kuwait at an exorbitant price of Ksh1.7 billion.

The Moi family co-owned Siginon Group with the former personal assistant to Moi identified as Joshua Kulei. Moi owned 88 percent while Kulei owned 12 percent stake of the company.

Records from the company registry indicated that the company was owned by Prize Holding Limited, which has a 42 percent stake, Trade World Kenya with 10 percent, Kabarak Farm (26 percent), Sacho High School Trust (six percent), Mogotiyo Plantations (10 percent) and Moi High School Kabarak, all of which are owned by Moi family.

The firm is involved in handling shipments globally and is stationed at Jomo Kenyatta International Airport (JKIA) which is its headquarters. It offers transportation services by air, sea, road, and rail as it operates as Siginon Global Logistics worldwide.

"As we cleared cargo, we started getting a lot of requests from our customers who wanted their cargo transported from point A to B. So we bought some trucks to move the shipment to the final destination.

"Then from there, we had the customer asking us whether we could hold the cargo for them for some time because they didn’t need the goods urgently; so we started investing in warehouses.

"We also went into ground handling because we were putting a lot of cargo into aircraft and airlines require terminal handling services such as ground handling, ramp handling, and air cargo handling," Siginon Managing Director Meshack Kipturgo told Forbes.