The Overseas Trading Company constructing, popularly referred to as OTC, is an iconic landmark situated alongside Ronald Ngala Street in Nairobi. The constructing sits on a quarter-acre of land and is owned by Thika billionaire businessman Victor Maina, who additionally owns Mathai Supermarket.
Maina purchased the OTC constructing from Ravinder Lakhamshi Shah and Nilesh Dayalji Shah in 2006.
All the tenants have been nonetheless in occupation at the moment, and the constructing value roughly Ksh72 million then.
Jack n Jill Supermarket was among the many first tenants to occupy the OTC constructing after Maina took over.
There was a court docket battle between Maina and the grocery store proprietor, Schon Noorani, which lasted for six years.
Maina requested Noorani to maneuver out of the constructing to create space for repairs beneficial by the Business Premises Rent Tribunal in 2009.
However, Noorani opposed this determination, however the courts dominated in Maina’s favour in 2013.
Noorani suffered losses after Jack & Jill Supermarket was demolished.
Since then, the constructing has been recognized for the inexperienced web wrapped round it, which was eliminated in March 2023.
Rise of Victor Maina
In a previous interview, Maina narrated how he began his enterprise as a hawker at Marikiti.
He inspired the youth not to surrender in life, recalling how he labored arduous earlier than establishing his roots in enterprise.
Maina mentioned he later moved to the Muthurwa space in Nairobi, the place he additionally continued together with his companies.
“Before relocating to Muthurwa and different areas of the town, I labored as a hawker right here in Marikiti. I’m not saying this as a joke, however I’m encouraging you to present your finest shot,” he mentioned.
Origins of the OTC Name
The identify OTC originates from the Overseas Trading Company, a London-based agency that launched 13 buses to Kenya in 1934. It assigned 12 of those buses to passenger transport routes throughout the nation.
OTC buses rapidly gained recognition throughout Kenya and East Africa. Their rising recognition led the corporate to arrange a bus terminal alongside Ronald Ngala Street in Nairobi.
That location quickly grew to become a serious transit level, retaining the OTC identify at the same time as transport infrastructure and companies developed.
Although the unique bus service later transitioned into the Kenya Bus Service (KBS), the OTC stage saved its identify, preserving its historic legacy.
Mathai Supermarket
Mathai Supermarket is known as after late environmental and political activist, Professor Wangari Maathai, in 1992.
In September 2014, the retail chain opened its first retailer within the central enterprise district of Nairobi (CBD) on the OTC constructing.
It at present has a number of branches in Thika, Ruiru, Murang’a, Nyeri, Karatina, Nairobi, Embu, and Meru.
Maina is serving because the Chairman of Mathai Supermarket.
Other Businesses
Maina additionally owns Klub Liquid Cash in Thika and Klub Image Hotel in Thika.
He additionally owns different properties in Thika, together with flats and a 17-acre piece of land, which has been the topic of a chronic court docket case. of a chronic court docket case.
