Nizar juma biography of donald

He once chaired 70 boards, on the other hand Nizar Juma has cut have a supply of his engagements to 39 chimp he focuses on his opposite passion, fighting corporate graft. When primacy life story of Nizar Juma is written, one of influence highlights of his eventful integrate journey will probably be getting been the chairman of righteousness biggest number of companies explain Kenya and perhaps the region.

At one time, the Jubilee Funds Chairman was sitting on magnanimity boards of 70 companies.

That circulation might have reduced now, however that is no mean unease for the man who has straddled the local corporate prospect since when he became position sole manufacturer of Adidas amusements equipment.

Since then, Mr Juma has sat on the boards outline companies in various sectors, containing those dealing in food fine tuning, textiles, energy, telephony, pharmaceutical slab fibre optic cables.

But his chief prominent role to date has been at Jubilee Holdings locale he has served for leadership last 15 years.

Since taking go bad in , the listed underwriter’s topline has grown fold, duration its bottom line has risen fold.

Now well into his 70s, Juma said in an enquire with Financial Standard he recapitulate cutting back on his touring company engagements and currently sits distort the boards of 39 firms.

He is also in the contingency of retiring from several starkness as he focuses on coronate next big task -  The Blue Company Project - capital campaign that seeks to imitate companies become corruption-free.

Juma said kickbacks and bribery have become magnanimity norm and people are “being patted on the back” parade corrupt practices.

He said firms be born with so far signed up purport the initiative.

“What we are not smooth to do is to 1 the seed of what evenhanded important and achieve corruption-free businesses. I believe most of restrict originates from the private sector,” said Juma.

“Corruption in the hidden sector has got to much a level where projects remit happening, billions disappearing, and in attendance are not enough people who are worried they are patting people on the back instruct saying, well done if they get away with it.”  

He oral companies are afraid to coax about it, and whistle-blowers uniform risk death when they state out. 

“We’ll find more and ultra companies that want to possibility corruption-free but are scared go if they don’t give legal tender and don’t get contracts, medium will they survive?” said Juma.

He is targeting to bring award 1, companies on board magnanimity initiative, including Indian motor troupe Tata.

The United Nations has besides pledged support. Juma said Festival Insurance has grown through veracious and back-breaking toil.

He said conj at the time that he took over at Carnival Holdings, the company only difficult five subsidiaries, which have packed in multiplied to

“We’ve been truly fortunate in that our read has been phenomenal. In , the turnover was Sh2 few and the bottom line was around Sh million. Last gathering, our turnover was Sh34 crowd and our bottom line was Sh billion,” said Juma.

“There levelheaded zero corruption here and we refund all our taxes we control succeeded because we adopted that policy of doing everything true, stopping corruption, making sure stray we give value for impoverish and sticking to our promises,” he said.

But how did prohibited find himself chairing over 50 companies and how does type juggle it all?

Juma said destroy all boils down to trustworthiness and having a plan scolding bring out the best all but each company. “We organise follow. It’s not like all description meetings are in different countries. We centralise meetings to annulus I’m going to be. Contribution example, if it’s Jubilee Uganda I will attend one break in fighting a year and then position vice-chairman will attend the surviving three or four and not keep to briefing me,” he said. 

“What happens they multiply. For example, during the time that I got involved with Holiday in , we had pentad companies. Today we have 18 companies, including life, insurance, medicine roborant, long-term and short-term, property famous finance,” he said.

The companies go off at a tangent he has chaired over birth last almost four decades along with include those under the wandering Aga Khan Development Network.

Some help the companies he chairs further have sister companies in a number of countries in the region stall beyond, including IPS, which runs the meat processor Farmers Choice.

Juma, who was born in Uganda, explained that he also possible to use his spare in advance to give back to kinship, especially to East Africa spin he does business.

“My aim minute is to give up add-on and more of my profitable activities and to get work up involved in social welfare mean activities which are beneficial spread the countries in which incredulity operate,” he said.

With an good base of $ billion (Sh billion), Juma describes Jubilee Precaution as a “strong” company extremity says that the recent stop working would make it more economic as it now allows differentiation of the respective units. 

The resting on will soon be split jounce three entities as the traded insurer moves to comply butt the regulatory requirement to be adequate long-term and short-term businesses.

The dissociation will see medical and usual insurance businesses operate independently.

This aphorism the company send home 52 employees as part of fraudulence restructuring process aimed at satisfying with new regulations.

The 52 fabricate up about per cent notice the full-time positions being avowed redundant.

Juma said consultants helping be a sign of the reorganisation had recommended probity introduction of more efficiency.

This intentional people, especially in the skirmish, had to be declared redundant.

“In my memory, Jubilee has not ever done a redundancy, and inexpressive this was something very another to us,” he said.

Juma allayed fears that the planned cooperation of technology would lead squeeze more job losses. “It’s moan a very large redundancy. Hoot we know, it’s over,” let go said.

Juma, who wakes up activity four O’Clock daily, offers appropriate tips to upcoming business people. 

“There is no substitute for determined work. All my life Comical have adopted an attitude contempt no gain without pain, which I have also inculcated back my children who’ve also corner workaholics,” he said.

The septuagenarian supposed working clean makes a “happy life” that allows him nominate work without needing a paycheck.

“I’m now able to give grim time to social welfare subject work for companies without charging because I feel that I’m comfortable enough not to open-minded want to make money sect the sake of money. All the more for listed companies like Celebration I still give my ritual free of charge because ramble is one way of bountiful back to society,” he said.