Kirubi receives extra Sh67m in BIC payout

Businessman Chris Kirubi. FILE PHOTO | NMG

Businessman Chris Kirubi has received an additional Sh67 million as part of his staggered payment following his sale of the BIC stationery, lighters and shavers franchise to French conglomerate Société BIC which owns the brand.

Mr Kirubi, through his manufacturing unit Haco Industries Kenya Limited, was paid an initial €6.3 million (Sh703 million) in the deal which was completed in 2018.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.