While Raila Odinga is seen as a ‘full time’ politician, his extensive and vast business empire has significantly contributed to his wealth. His business empire ventures in manufacturing, real estate, oil and gas and land.
In this article, Times Digital, is going to look at how Raila Odinga started his first ever company which has now grown to greater heights.
Companies owned by Raila
Raila Odinga who is among the richest politicians in Kenya owns a number of popular companies in Kenya and across Africa.
They include East Africa Spectre, Be Energy and Pan African Petroleum Company, just to mention the most famous. The Pan African Petroleum Company, with an estimated yearly revenue of over half a billion shillings, is owned by Raila Odinga together with his family.
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Raila Odinga Jr, the son of the former prime minister, describes himself as an owner of Pan African Petroleum Company in his LinkedIn profile.
Raila Odinga gas Company name
His gas company as mentioned above is the East Africa Spectre Limited. According to the company’s official website, it is the largest and most prominent manufacturer of cylinders in the Eastern and Central African region, with an installed capacity of around two million units annually.
Vivo Energy, Total Energies, Circle Gas, Boc and Linde, Lake Oil, Future Gas, Rubies, Ola Energy, and Jaguar are just a few of its clients.
Outside Kenya, other markets for East Africa Spectre include ; Tanzania, Uganda, Malawi, DRC Congo, South Sudan, Rwanda, Burundi, and Ethiopia.
Raila Odinga sold his first car to launch East Africa Spectre Limited
According to local news outlet, Nation, Raila Odinga was introduced to an Asian businessman when he was still a lecturer at the University of Nairobi.
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The businessman had crossed from Uganda with a machinery that he was using in his plant and he had to sell it. The young Raila Odinga thought it was the right moment to grab the opportunity and start his own company.
However, he was earning Shs. 2000 at the time and could not afford the machinery as it cost Shs 12,000. This forced him to sell his first ever car, an Opel and this helped him to raise money to purchase the machinery. After buying the equipment, Raila Odinga then launched his East Africa Spectre company.
“… At the time, My salary was Sh 2000 per month. I had an Opel, left-hand drive which I had brought from Germany with me. I sold that Opel and got the Sh 12000 to pay that “kalasinga” and I got the machinery to start my limited, East African Spectre Limited today,“
Raila Odinga said in the past.
When the business was founded with the name Standard Processing Equipment Construction, it was the only local producer of liquefied petroleum gas and sold its goods to Total Kenya and Shell.
Since then, the business has gradually expanded, adding extra manufacturing space along Mombasa Road and setting up a brand-new, cutting-edge cylinder manufacturing facility.
