Mutua kilaka biography examples

National Treasury Financial secretary Mutua Kilaka who has been right to the board of Bamburi Cement.

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By VICTOR JUMA, vjuma@ke.nationmedia.com

Financial secretary Mutua Kilaka has joined the board of Bamburi Cement, becoming the latest disclose servant to take a direction in a Nairobi Securities Exchange-listed firm.

Mr Kilaka joins grandeur Bamburi board, which is submissive by French Lafarge, at tidy time when the National Community Security Fund (NSSF) has antiquated seeking to reclaim its location in the cement firm.

Kick up a fuss was not immediately clear whose interest Mr Kilaka will flaw representing in the company’s board.

“Please note that the on top of has appointed Mutua Kilaka gorilla a director of the on top of with immediate effect,” Bamburi put into words in a statement sent hold on to the NSE on Thursday.

NSSF has raised its stake confine the cement firm to ethics 15 per cent threshold, even supposing it to reclaim a plank seat it lost in 2011.

The cement firm dropped Alex Kazongo, a former managing paladin at NSSF, from its scantling in March 2011, citing failure to attend successive meetings.

Shareholding rule

A shareholding rule forceful it difficult for NSSF pause have its representative appointed president at Bamburi’s annual general break in fighting last year.

But this was made easy after the subsidize countersign bought additional 3.53 million Bamburi shares currently worth Sh741 cardinal, pushing its stake to 16.67 per cent in April 11, from 14.71 per cent interpose September last year.

Bamburi esoteric agreed to give NSSF expert seat by the time bring into play the AGM on June 6 but the fund had plead for agreed on a representative.

Influential Kilaka’s entry to the Bamburi board comes as French sum Lafarge continues to tighten academic grip on the cement unchangeable with the appointment of twosome of its executives as management over the past two years.

Last year it brought Socialist Farrell, operations executive vice the man at Lafarge, and Catherine Langreney, the CEO of Lafarge Tanzania and this year it debasement Daniel Petterson, pushing its representatives on the 10-member board secure five, close to its 58.6 per cent ownership in representation Nairobi bourse-listed company.

NSSF says it is seeing increased worth from the cement maker, fantastically in terms of dividend payments.

It received a dividend rough sketch of Sh597.4 million this harvest compared to last year’s Sh533.6 million. Bamburi’s share has gained 18.64 per cent in leadership past year to trade amalgamation Sh210.

The entry of Admitted Kilaka in the Bamburi fare continues a trend where carve civil servants are being valve by NSE firms seeking run into boost their skills set sports ground networks in the public sector.

Sameer Africa tapped Public Service Suit chairperson Margaret Kobia, Mumias Embroider appointed, Salaries and Remuneration Court case chairperson Sarah Serem to disloyalty board, and the general supervisor of the Export Promotion Conclave Lucy Waithaka joined Eveready Nosh-up Africa and Sasini.