Kenyan tycoon Humphrey Kariuki’s beverage business faces insolvency with rahim66

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Key Points

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• Kenya’s tax authority triggered the move after a $317 million dispute; all company operations now fall under an administrator’s control.
• Administrator Peter Kahi has invited creditors to submit claims by July 18, 2025, with company directors suspended from operational control.
• The ASL case highlights ongoing risks in Kenya’s alcohol industry amid tax enforcement and restructuring pressures.

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Africa Spirits Limited (ASL), the alcoholic beverage company owned by Kenyan billionaire Humphrey Kariuki, has been placed under administration following prolonged tax disputes with the Kenya Revenue Authority (KRA). Peter Kahi of PFK Consulting Limited was appointed as the company administrator effective June 17, 2025.

Administration takes control amid tax troubles

In a public notice, Kahi confirmed that all company assets and operations are now under the administrator’s control, suspending the powers of directors and other company representatives from managing or transacting business without his written consent. Creditors have been urged to submit claims against the firm by July 18, 2025. 

ASL’s troubles trace back to a 2019 tax crackdown, when the KRA seized its Thika-based factory over alleged tax evasion totaling Ksh41 billion ($317 million). The agency discovered counterfeit excise stamps and illicit alcohol products worth billions of shillings. Despite regaining the factory in late 2022, ASL’s operations have remained dormant since the shutdown.

Humphrey Kariuki’s business empire and legacy

Humphrey Kariuki founded Africa Spirits Limited in 2002, once hailed as Kenya’s leading indigenous alcoholic beverage manufacturer.

Beyond ASL, Kariuki is renowned for building Janus Continental Group, a multinational conglomerate with interests spanning energy, hospitality, and real estate sectors in 10 countries, including East, Central, and Southern Africa, as well as the UAE and Europe, employing over 700 people. 

His business portfolio includes Dalbit Petroleum, one of the largest oil distributors in East and Southern Africa, and Great Lakes Africa Energy, a UK-based power project developer. Kariuki also owns The Hub shopping mall in Nairobi’s upscale Karen suburb and the luxury Fairmont Mount Kenya Safari Club alongside a wildlife conservancy and animal orphanage. 

Kariuki began his entrepreneurial journey in the early 1980s after a stint at the Central Bank of Kenya. His ventures include Nairobi’s famed Green Corner restaurant, recognized by former US President Barack Obama as a must-visit site during his Kenya visits.

Outlook and market implications

The administration of Africa Spirits Limited signals continued uncertainty for Kenya’s local alcoholic beverage sector amid regulatory scrutiny. Investors and industry watchers will closely monitor how the restructuring under PFK Consulting affects the company’s future operations and Humphrey Kariuki’s wider business interests.

from Daily News on African Billionaires and UHNWIs https://ift.tt/r416uZy

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