OTC has been one of the most famous landmarks in the Nairobi CBD for several decades. This infamous street has been a reference point not only for city residents but also for people coming from other towns.
Nonetheless, the OTC Building has been a subject of controversies over the years, including its construction period (it has been under construction for many years). Its construction walls were covered with safety nets for over a decade.
Despite all of the above, the OTC building has been a landmark for the city visitors, with its unique appearance being the center of attraction. In spite of the building’s fame & controversies, very few people know its real owner. It is actually a business venture for a renowned Kenyan billionaire. In this piece, The Daily Sauce uncovers the tycoon behind the OTC building.
History of the OTC landmark
First of all, the name OTC originated from a bus brand, Overseas Trading Company. It is a London-based company that is known to have imported 13 buses to Kenya in 1934.
Out of 13 buses, 12 were assigned to ferry passengers on routes across the country. Additionally, the OTC buses transported Kenyans on long-distance journeys, including to Kampala, Uganda. After a few years of service, the Oversees Trading Company buses became a household name not only in Kenya but also in the entire East African community.
Due to its widespread popularity in Kenya, the company put up a stage on Ronald Ngala Street, Nairobi. Travelers quickly made this stage popular after it was branded the OTC bus stage.
However, the OTC transformed to Kenya Bus (KBS). Nevertheless, the stage has maintained its name to date despite the transformation of infrastructure and buildings in the vicinity. One of the most famous buildings along this stage is the OTC storey building, which had been incomplete for many years.
Who is the owner of the OTC Building?
This storey building along Ronald Ngala Street is a property of Kenyan billionaire Victor Maina Ngunjiri. He bought it from Ravinder Lakhamshi Shah and Nilesh Dayalji Shah in 2006 at a cost of Shs 72 million.
The acquisition of the infamous building came with challenges. For instance, Victor Maina’s conflict with Schon Noorani (a tenant of the building) led to a six-year court battle.
Noorani accused Maina of causing him issues for 7 years as he rented the OTC premises. Thankfully, Victor Maina emerged victorious in the case. In 2023, he renovated the building. They recently repurposed the once-abandoned structure into Wholesale Mall OTC.
Background of Victor Maina Ngunjiri
Victor Maina’s journey to success is quite interesting. Many might recognize him as a billionaire, but he has come from a humble background.
While speaking during a previous interview, the Thika billionaire revealed that he was a hawker at Marikiti back in the years. He then moved to the city and Muthurwa area, where he worked with his wife. Through hard work and persistence, he became successful in his business, expanding to various ventures.
He now owns multiple properties, including flats, a huge tract of land, and homes, to name a few. Apart from the OTC premises, the tycoon owns the famous Maathai Supermarket. As of the moment, Victor Maina’s net worth is not in the public domain, but he is definitely a billionaire.
