Chris Kirubi to set to earn Sh 835 million by 2021

The businessman received Sh 35 m from Societe BIC during the first quarter of the year.

The French conglomerate, who own the BIC brand, set out to acquire the BIC stationery, lighters and shavers franchise from Kirubi's Haco Industries Kenya Limited in 2018. Through his manufacturing unit, Kirubi was paid an initial Sh 732 million in the deal.

The deferred payment is due to the capital commitments Haco had already made in the BIC business by the time the transaction was completed on December 31, 2018.

This means that Haco has so far received a total of Sh 1 billion from the transaction, with a balance of Sh 835 million expected to be settled by December 2021. The deal is set to be valued at Sh 1.8 billion.

This leaves a target as to where the businessman will next invest in...