The Overseas Trading Company building, popularly known as OTC, is an iconic landmark located along Ronald Ngala Street in Nairobi. The building sits on a quarter-acre of land and is owned by Thika billionaire businessman Victor Maina, who also owns Mathai Supermarket.
Maina bought the OTC building from Ravinder Lakhamshi Shah and Nilesh Dayalji Shah in 2006.
All the tenants were still in occupation at that time, and the building cost approximately Ksh72 million then.
Jack n Jill Supermarket was among the first tenants to occupy the OTC building after Maina took over.
There was a court battle between Maina and the supermarket owner, Schon Noorani, which lasted for six years.
Maina asked Noorani to move out of the building to make space for repairs recommended by the Business Premises Rent Tribunal in 2009.
However, Noorani opposed this decision, but the courts ruled in Maina’s favour in 2013.
Noorani suffered losses after Jack & Jill Supermarket was demolished.
Since then, the building has been known for the green net wrapped around it, which was removed in March 2023.
Rise of Victor Maina
In a past interview, Maina narrated how he started his business as a hawker at Marikiti.
He encouraged the youth not to give up in life, recalling how he worked hard before establishing his roots in business.
Maina said he later moved to the Muthurwa area in Nairobi, where he also continued with his businesses.
“Before relocating to Muthurwa and other areas of the city, I worked as a hawker here in Marikiti. I’m not saying this as a joke, but I am encouraging you to give your best shot,” he said.
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Origins of the OTC Name
The name OTC originates from the Overseas Trading Company, a London-based firm that introduced 13 buses to Kenya in 1934. It assigned 12 of these buses to passenger transport routes across the country.
OTC buses quickly gained recognition across Kenya and East Africa. Their growing popularity led the company to set up a bus terminal along Ronald Ngala Street in Nairobi.
That location soon became a major transit point, retaining the OTC name even as transport infrastructure and services evolved.
Although the original bus service later transitioned into the Kenya Bus Service (KBS), the OTC stage kept its name, preserving its historical legacy.
Also Read: Story of the Billionaire Who Founded Prime Bank and Owns Yaya Centre
Mathai Supermarket
Mathai Supermarket is named after late environmental and political activist, Professor Wangari Maathai, in 1992.
In September 2014, the retail chain opened its first store in the central business district of Nairobi (CBD) at the OTC building.
It currently has several branches in Thika, Ruiru, Murang’a, Nyeri, Karatina, Nairobi, Embu, and Meru.
Maina is serving as the Chairman of Mathai Supermarket.
Other Businesses
Maina also owns Klub Liquid Cash in Thika and Klub Image Hotel in Thika.
He also owns other properties in Thika, including flats and a 17-acre piece of land, which has been the subject of a prolonged court case.
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How does Professor Wangari Maathai come in in the middle of an otherwise flowing narrative?
Mathai supermarket was obviously founded before 2014.I worked in Nyeri town from 2004 and the supermarket was already at Gakere Street.
The reference to OTC is erroneous. The OTC was the building opposite the petrol station, Racecourse Rd, previously housing Tuskys. We regularly boarded the buses there as we headed upcountry.
I believe that his first supermarket was in Thika at the turn of the millennium