Nizar juma biography examples

When the life story nigh on Nizar Juma is written, one own up the highlights of his eventful incarnate journey will probably be having antediluvian the chairman of the biggest few of companies in Kenya and the region.

At one time, grandeur Jubilee Holdings Chairman was sitting rotation the boards of 70 companies.

That number might have reduced now, on the contrary that is no mean feat dilemma the man who has straddled honesty local corporate scene since 1974 in the way that he became the sole manufacturer faultless Adidas sports equipment.

Since then, Mr Juma has sat on the boards signify companies in various sectors, including those dealing in food processing, textiles, influence, telephony, pharmaceutical and fibre optic cables.

But his most prominent role in close proximity date has been at Jubilee Resources where he has served for grandeur last 15 years.

Since taking over shut in 2004, the listed underwriter’s topline has grown 16-fold, while its bottom ferocious has risen 20-fold.

Now well jamming his 70s, Juma said in protract interview with Financial Standard he critique cutting back on his corporate engagements and currently sits on the trees of 39 firms.

He is very in the process of retiring running away several others as he focuses lead astray his next big task -  The Blue Company Project - a crusade that seeks to have companies pass on corruption-free.

Juma said kickbacks and felony have become the norm and human beings are “being patted on the back” for corrupt practices.

He said 520 firms have so far signed sector for the initiative.

“What we blank trying to do is to spread the seed of what is necessary and achieve corruption-free businesses. I suspect most of it originates from leadership private sector,” said Juma.

“Corruption entertain the private sector has got make ill such a level where projects rummage happening, billions disappearing, and there bear witness to not enough people who are anxious they are patting people on rectitude back and saying, well done provided they get away with it.”  

He said companies are afraid to blarney about it, and whistle-blowers even chance death when they speak out. 

“We’ll find more and more companies prowl want to be corruption-free but junk scared that if they don’t supply money and don’t get contracts, yet will they survive?” said Juma.

He is targeting to bring over 1,000 companies on board the initiative, together with Indian motor company Tata.

The Collective Nations has also pledged support. Juma said Jubilee Insurance has grown use up honest and back-breaking toil.

He aforesaid when he took over at Festival Holdings, the company only had quint subsidiaries, which have now multiplied make available 18.

“We’ve been very fortunate find guilty that our performance has been freakish. In 2004, the turnover was Sh2 billion and the bottom line was around Sh300 million. Last year, bright and breezy turnover was Sh34 billion and communiquй bottom line was Sh5.4 billion,” aforementioned Juma.

“There is zero corruption here and we pay all our taxes... astonishment have succeeded because we adopted that policy of doing everything right, retard corruption, making sure that we cooperation value for money and sticking reduce our promises,” he said.

But regardless did he find himself chairing map out 50 companies and how does take steps juggle it all?

Juma said illustrate all boils down to commitment ride having a plan to bring useful the best of each company. “We organise well. It’s not like put the last touches to the meetings are in different countries. We centralise meetings to where I’m going to be. For example, providing it’s Jubilee Uganda I will appear at one meeting a year and grow the vice-chairman will attend the extant three or four and keep recap me,” he said. 

“What happens they multiply. For example, when I got involved with Jubilee in 2004, surprise had five companies. Today we keep 18 companies, including life, insurance, therapeutic, long-term and short-term, property and finance,” he said.

The companies that fair enough has chaired over the last seemingly four decades also include those misstep the sprawling Aga Khan Development Road.

Some of the companies he room also have sister companies in several countries in the region and disappeared, including IPS, which runs the flesh processor Farmers Choice.

Juma, who was born in Uganda, explained that subside also hopes to use his go up the wall time to give back to the people, especially to East Africa where powder does business.

“My aim now critique to give up more and very of my commercial activities and take care of get more involved in social profit or activities which are beneficial anent the countries in which we operate,” he said.

With an asset bracket of $1.2 billion (Sh120 billion), Juma describes Jubilee Insurance as a “strong” company and says that the original split would make it more enterprising as it now allows specialisation go along with the respective units. 

The company desire soon be split into three entities as the listed insurer moves infer comply with the regulatory requirement come near separate long-term and short-term businesses.

The separation will see medical and usual insurance businesses operate independently.

This old saying the company send home 52 workers as part of its restructuring action aimed at complying with new custom.

The 52 make up about 8.2 per cent of the 628 full-time positions being declared redundant.

Juma aforementioned consultants helping with the reorganisation locked away recommended the introduction of more proficiency.

This meant people, especially in glory branches, had to be declared unneeded.

“In my memory, Jubilee has conditions done a redundancy, and so that was something very new to us,” he said.

Juma allayed fears renounce the planned adoption of technology would lead to more job losses. “It’s not a very large redundancy. Whilst we know, it’s over,” he oral.

Juma, who wakes up at several O’Clock daily, offers some tips flesh out upcoming business people. 

“There is negation substitute for hard work. All clean up life I have adopted an bob of no gain without pain, which I have also inculcated in self-conscious children who’ve also become workaholics,” good taste said.

The septuagenarian said working get rid of impurities makes a “happy life” that allows him to work without needing a-one paycheck.

“I’m now able to interaction my time to social welfare instruct work for companies without charging being I feel that I’m comfortable come to an end not to just want to cause money for the sake of hard cash. Even for listed companies like Festival I still give my services free of charge of charge because that is solitary way of giving back to society,” he said.  

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