A new chapter is set for popular Kenyan tobacco company Mastermind Tobacco (K) Limited after a new buyer received regulatory approval to acquire some of its assets.
In the Kenya Gazette dated October 2, 2026, the Competition Authority of Kenya announced approval of the proposed transaction.
Signature Leaf Limited has been authorized to acquire certain assets belonging to Mastermind Tobacco (K) Limited, which is under administration.
“The proposed acquisition of certain assets of Mastermind Tobacco (K) Limited (under administration) by Signature Leaf Limited: Authorization,” the notice read.
The notice dated August 21, 2026, and signed by Competition Authority Director-General David Kemei, said the approval was granted under Section 46(6)(a)(ii) of the Competition Act, Cap. 504.
Gazette Notice No. 15916 states that the Competition Authority exercised its powers under the Act to authorize the proposed acquisition.
“PURSUANT to the provisions of section 46 (6) of the Competition Act (Cap. 504) of the Laws of Kenya (the Competition Act), it is notified for general information that in exercise of the powers conferred upon the Competition Authority of Kenya by Section 46(6)(a)(ii) of the Competition Act, the Competition Authority of Kenya has authorized the proposed transaction as set out herein.”
Original Owner: Rise Of Mastermind Tobacco (K) Limited
The late Wilfred M’iti Murungi was a Kenyan industrialist and electrical engineer who founded Mastermind Tobacco (K) Limited in 1987 after leaving British American Tobacco Kenya.
Mastermind began production in Nakuru before expanding to Nairobi as the business grew. Its major cigarette brands included Supermatch, launched in 1989, and Rocket, introduced in 1991.
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Under Murungi’s leadership, Mastermind grew into Kenya’s second-largest cigarette manufacturer after British American Tobacco, employing about 1,000 workers and reportedly paying billions of shillings in taxes annually at its peak.
Murungi had previously worked at Kenya Power and Lighting Company as an engineer before joining British American Tobacco Kenya, where he rose to become technical director.
After leaving BAT in the mid-1980s, Murungi initially operated as a distributor of locally manufactured cigarettes in what was then Zaire, now the Democratic Republic of Congo, before establishing Mastermind Tobacco.
Beyond tobacco, Murungi held interests in distribution, marketing, communications, real estate, and engineering through the Continental Group of Companies. He was also involved in the financial sector and served on the boards of several Kenyan companies and industry bodies.
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The Company’s Fall
Mastermind later faced financial and regulatory difficulties, including a prolonged tax dispute with the Kenya Revenue Authority over reported tax arrears of about KSh2.9 billion.
Murungi died on June 6, 2019, in his early seventies. After his death, the company continued to struggle financially as it faced mounting debts and regulatory challenges.
Production eventually stopped in June 2023, while I&M Bank placed Mastermind Tobacco under administration in December 2023.
About 1,000 employees were subsequently dismissed, with company assets later scheduled for auction.
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