Public Service Commission chairperson Margaret Kobia. Her appointment as an independent director in Sameer Africa is likely to raise a storm as the Constitution bars public officers from taking up any other gainful employment. Photo/FILE
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Sameer Wednesday appointed Public Service Commission boss Margaret Kobia as an independent director in its seven-member board, highlighting a growing trend of civil servants taking board positions in non-State owned firms listed at the Nairobi bourse.
Sameer reported seven-fold growth in half year net profit to Sh350.7 million, driven by the Sh255 million sale of its two-acre land along Mombasa Road.
The appointment of Prof Kobia, who chairs a constitutional commission, is likely to raise a storm as the Constitution bars public officers from taking up any other gainful employment.
Sameer Africa has tapped a top public servant to its board as as a one-off property sale lifted its half year profits in a period that saw the tyre firm report a dip in sales.
Sameer Wednesday appointed Public Service Commission boss Margaret Kobia as an independent director in its seven-member board, highlighting a growing trend of civil servants taking board positions in non-State owned firms listed at the Nairobi bourse.
Prof Kobia joins Controller of Budget Agnes Odhiambo and Transport PS Nduva Muli — both directors at the Britam — and the Export Promotion Council general manager Lucy Waithaka who chairs Eveready East Africa and sits in the board of Sasini.
Businessman Naushad Merali has significant stakes in Sasini, Eveready East Africa and Sameer Africa.
Sameer reported seven-fold growth in half year net profit to Sh350.7 million, driven by the Sh255 million sale of its two-acre land along Mombasa Road.
Prof Kobia becomes the only woman in the Sameer board, and replaces Peter Gitonga Mugambi, a personal assistant of Mr Merali, who quit the board in 2010 and appointed his son to take care of his interests.
Sameer has been struggling to raise market share in a market that has witnessed an increased flow of cheap tyres from Asia.
Its sales dipped nine per cent to Sh1.8 billion in the six months to June and the firm is looking at the neighbouring countries to grow sales and reduce reliance on Kenya.
“Proceeds from the land sale will fund expansion of our African operations by establishing distribution and retail operations in Burundi and Rwanda,” said Allan Walmsley, chief executive of Sameer Africa.
The appointment of Prof Kobia, who chairs a constitutional commission, is likely to raise a storm as the Constitution bars public officers from taking up any other gainful employment.
“A member of a commission or holder of an independent office, unless ex-officio or part time, shall not hold any other office or employment for profit whether public or private,” states Article 250(6)(b).
The appointment of Ms Odhiambo to the Britam boardroom in April last year sparked off debate on whether the move was backed by the law. Britam CEO defended the move, saying the controller of budget had been cleared by then head of civil service Francis Kimemia.
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