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Jacob Juma never gives any qualms talking about “my big wealth” and lives in a Sh100 million residence in the upmarket Karen area.
He says he cannot quantify his wealth “from businesses spread in 52 countries across the world”. ” is his boastful script to any Tom Dick and Harry Who crosses his path It’s the lesson the National Cereals and Produce Board (NCPB) learnt late when it was ordered to pay Jacob Juma more than Sh500 million.
NCPB has over the years fought against the award, that threatens its very existence, with little success.
In 2004, at the height of a major drought, NCPB controversially awarded Juma through his company Erad Supplies and General Contractors a tender for the supply of 40,000 tonnes of maize at US$229 to replenish a depleted national grain reserve.
Jacob Juma has 30 per cent shareholding in the Rare Earth Elements mining firm, Cortec Mining Kenya.