19.2 C
Nairobi
Friday, March 1, 2024
HomebusinessTitus Muya: Businesses Billionaire Founder Of Family Bank Owns

Titus Muya: Businesses Billionaire Founder Of Family Bank Owns

Family Bank was founded in 1984 by Titus Muya, then known as Family Finance Building Society, along Nairobi’s Kenyatta Avenue. 

TK, as he is popularly referred, harboured dreams of starting a bank in 1961 when he was only 18 years old. 

Here are the business owned by the Family Bank founder as compiled by WoK.

Growth of Family Bank

From a single outlet, the building society transitioned to a fully fledged bank in 2007 with Titus Muya as at helm. He relinquished his position as the chairman in 2012. 

As of 2023, the bank had 93 branches spread across the country with three more under construction. This makes it the 14th largest bank in Kenya and fourth largest bank in terms of branch network. 

Family Bank has an asset base of Ksh130 million and over 1500 staff. 

Other businesses owned by Titus Muya 

Daykio Plantations Limited (DPL)

He founded the company in 1986. The real estate company buys prime land in bulk and sub-divides it into sub-plots for sale, either for commercial or residential use. 

According to their LinkedIn profile, the company has built and sold apartments in prime areas of Nairobi and also developed a commercial building for ‘letting’ purposes.

Daykio Plaza is a commercial building owned by DPL. The seven storied building that was completed in 2014 has 53 office suites

TK left the running of DPL to his daughter Anne Muya in 2012. His son Julius Muya chairs the company board. 

Kenya Orient Insurance

The insurance company has a rich history dating back in 1982 when it was incorporated by the Al-Fateem Group of Dubai. Six years later, it was fully acquired by Kenyans. 

According to the Kenya Orient website, the current company “was formed in 2004 after a transfer of ownership from the previous proprietors to its current owners.”

Muya surrendered the running of his company to his son Julius.

Shareholding of Family Bank as of 2022

Top shareholder is Kenya Tea Development Agency Holding with a stake of 16.5 percent

Rachael Njeri comes second with a stake of-12.98 percent)

Daykio Plantations Limited-12.3 percent

Titus Kiondo Muya-5.7 percent

Speak Your Mind

You cannot copy content of this page