End of Matiba family empire as Hillcrest goes on sale

The prestigious Hillcrest Group of Schools owned by politician Kenneth Matiba is up for sale, signalling a possible end to one of independent Kenya’s largest family-owned business empires.

Barclays Bank of Kenya — the creditor who put the politician-cum-businessman’s schools under receivership in 2005 over a Sh620 million debt — last week advertised the schools for sale after an out-of-court settlement was agreed upon by the two parties.
The schools have a consolidated turn-over of Sh600 million.