Former Kiambu Governor Ferdinand Waititu, a politician turned entrepreneur, has long been a controversial yet dynamic figure in the business landscape.
Known for his diversified ventures ranging from transportation and real estate to fuel retailing, Waititu’s business model is a fascinating case of strategic asset management and reinvention.
During his early days in public service, Waititu built a substantial business portfolio. He acquired various assets including fleets of lorries, hotels, and petrol stations.
In one account, he even claimed, “I have two hotels and three petrol stations, which I acquired a long time ago.”
Fuel retailing emerged as one of Waititu’s early business interests.
At one point, his portfolio included several petrol stations – a lucrative venture in a country where fuel distribution plays a vital role in economic activity.
However, in a calculated financial move, Waititu decided to sell two of these petrol stations – one located in Njiru and another at the Kayole Junction.
According to media reports, the sale of these stations was instrumental in raising capital to finance other investments, including the acquisition of a hotel and a prime commercial building.
He later revealed that he “topped the money with a bank loan” to complete these deals.
After divesting from his older fuel assets, Waititu has re-entered the petrol station market with renewed vigor.
His latest venture is the launch of a Be Energy outlet in Ruai, strategically located along Kangundo Road.
Be Energy is a prominent oil company in East Africa, specializing in the marketing and sale of petroleum products across countries such as Uganda, the Democratic Republic of Congo, Burundi, South Sudan and Rwanda.
In Kenya, Be Energy operates strategically located depots in Mombasa, Nairobi, Nakuru, Eldoret, and Kisumu, ensuring comprehensive nationwide depot services.
The company offers a range of services, including exports and transit, lubricants and aviation fueling.
Founded in 2004, Be Energy is part of the Be Energy Group and has a vision to lead in oil and gas supply within the region.
The company is also looking to expand its reach to countries like Tanzania, Malawi, and Zambia, in response to globalization and the demand for affordable petroleum products further inland.
