The growth of Kitengela over the years has been phenomenal. This can be credited to the many manufacturing companies that have set shop in the area. Land is also fairly priced leading to a boom in residential and commercial properties. Zamara pension firm has put up atleast 211 housing units worth Ksh2.7 billion but their most notable development is the iconic Kitengela Mall.
WoK looks at the executive director of the pension scheme James Olubayi and more on the mall.
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James Olubayi is a renowned contractor who is the managing partner and chief consultant of Atchison Actuaries Limited – an actuarial consultancy firm based in Harare, Zimbabwe. He qualified as an actuary in 1994 and has several years of experience in international actuarial consultancy having worked in the United Kingdom, South Africa and Kenya. He works primarily in Insurance consultancy even though he has extensive experience in pensions, investment and systems consultancy. He is currently appointed as Actuary in over 20 insurance companies spread across East and Central Africa. The graduate of City University, Cass Business School serves as a member in The Actuarial Society of Kenya (TASK) council.
Also Read: Faces Behind Nairobi’s Biggest Malls
He began his career as a fellow at The IA|BE in Belgium before proceeding to Alexander Forbes in 2009 where he served as the executive director until 2017. In 2018 he was appointed as a board member at Deacons and in 2019 as the Chairman of UBA Bank, a position he held until 2020. UBA Bank is one of the largest financial institutions in West Africa with its headquarters based in Lagos, Nigeria. He is currently the Executive Director of Zamara Group, a company that was founded in 1994. Zamara Group is a financial services provider offering innovative Actuarial, Pensions and Insurance services across 6 countries in Africa.
Kitengela Mall receives hundreds of shoppers on daily basis. The mall is occupied by big brands such as Naivas Supermarket, Artcafé restaurant, Safaricom shop and Samsung shop among many other big brands. The state of the art mall has four floors and a modern ample parking space at the ground floor. According to an article by businessdaily, Zamara group is the company behind the Ksh 400 million mall that was constructed in 2019. The company has also invested heavily in the real estate sector of the area.
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“We have sold 65 percent of housing units comprising two, three and four-bedroomed houses and since real estate has proved profitable, we have several land parcels that are scheduled for development in the coming days,” revealed James Olubayi during the groundbreaking ceremony in 2018.
Zamara Riverine has a nursery school, playgrounds, a club house complete with a swimming pool, gym as well as meeting hall. The housing units have individual title deeds while the mall is owned by Zamara.
Leadership of Zamara
Rosalyn Mugoh-Managing director
Chris Nyokangi-Group Chief Operating Officer
Emeka Okoji-Chief Operating Officer
Sundeep Raichura-Group Chief Executive Officer
Robert Njoroge-Finance Head
Geoffrey Makori-Retirement Fund Administration Head