Billionaire businessman and former University of Nairobi (UoN) Chancellor Joe Wanjui died on July 2, 2024, at his home after a long battle with illness.
The 87-year-old had many things in one; a business mogul, a philanthropist, presidential advisor who had vast interest in insurance, real estate, hospitality, equity, horticulture and agribusiness.
Joe Wanjui also known as Joseph Barrage Wanjui, was born in 1937, in Kiambu County when dates were never recorded in colonial Kenya. He settled for May 24, the British Empire Day.
Wanjui, attended Kabaa Mission School and graduated from Mang’u High School, Thika in 1957 with a First-Class Cambridge School Certificate.
He was invited to study for a bachelor’s degree in medicine at Makerere University in Uganda but declined the offer.
Instead, he saw better prospects abroad and applied to Ohio Wesleyan University in America where he was offered a place plus full tuition fee.
After completing his BSc degree at Ohio Wesleyan, Wanjui became the first Kenyan to study industrial engineering and management for his master’s degree at Columbia University in 1962 “an unusual course for an African at the time.
He would later enroll for Master of Science degree, which he completed in 1964.
Business Interests of Joe Wanjui
Upon completing his master’s in 1964, he returned to Kenya with Ksh 70,000, his savings from studying abroad.
His first acquisitions included a house in Caledonia worth Ksh 45,000 on State House Road, two blocks of flats in Eastleigh, and his first car, a Morris Cooper. He was only 28 years old at the time.
Wanjui sold the Caledonia and paid for another in Lavington. The tycoon went on to buy 20 acres of prime land in Kentmere in Limuru after selling his Eastleigh flats.
He used the land to set up Strathbogie Farm and built apartment forays in Spring Valley, Gigiri, Upper Hill and Mombasa.
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In 2020, when South African-owned Old Mutual wanted to buy shares in UAP Holdings, it was revealed that Wanjui held 43.25 million shares (or a 20.4 percent stake) through his investment company, Bawan Limited.
In this deal, Wanjui and his friend, businessman James Muguiyi, sold a combined 6 percent stake in UAP Holdings to Old Mutual for a total of Ksh 3.2 billion.
Through his company Bawan Limited, he holds stakes in Hill Park Hotels (Hill Park Nairobi, Ol Pejeta Resort Nanyuki, Amare Resort, and Vipingo Villa), Bawan Roses, and the Hillpark building, which once housed the World Bank as a tenant.
In 2004, he founded the Joe B. Wanjui Education Trust, which provides university scholarships to bright but needy female students. The fund has awarded grants to over 500 students in various universities across Kenya.
He is the author of three popular books – ‘The Native Son, My Native Roots and From Where I Sit with Views of an African Executive.
Billionaire Businessman’s Career
Joe Wanjui began his career at ExxonMobil earlier known as Esso before transitioning to the state-owned Industrial and Commercial Development Corporation (ICDC).
In 1968, he left ICDC and joined East African Industries (EAI), now known as Unilever, as a Technical Director.
Wanjui is also the author of three popular books: The Native Son, My Native Roots, and From Where I Sit with views of an African Executive.
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He rose to become the managing director and eventually executive chairman of EAI, serving the company for 19 years before retiring in April 1996
At 87 years old, Wanjui had served on various boards, including as Chair of the UAP Board a company he partly owned.
In June 2021, he officially resigned as the Chairman of UAP Holdings’ Board of Directors after selling his shares in the company.
The tycoon was the founder of both the Kenya Institute of Management (KIM) and the Kenya Association of Manufacturers.
Wanjui was one of the most powerful figures during the administration of Mwai Kibaki who appointed him as Chancellor of the University of Nairobi in 2003. He was awarded an honorary doctorate for his contribution to “business and industrial development.”
He also became the first African Chairman of the Rotary Club of Nairobi and served on the boards of several companies, including Kikuyu Highlands Tea Company, Tiwi Beach Hotel, Camp David Retreat, Olemonana Enterprises, and Hakika Limited.
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