Tabitha Karanja, the prominent Kenyan liquor tycoon and newly elected senator in Nakuru, has resigned as the chief executive officer of Keroche Breweries Ltd. after 25 years at the helm.
The announcement came as the company kicked off its 25th-anniversary celebrations. Karanja, who ranks among Kenya’s wealthiest businesswomen, handed over the reins to the company’s CFO, Potas Anaya, as she steps away from active roles in the group.
During her exit speech, Karanja emphasized the importance of her decision, stating: “Today marks a significant milestone as I make an important announcement. Having navigated the journey as the captain for 25 years, the time has come for me, Tabitha Karanja, to pass the baton to a new generation of business leaders.”
Keroche Breweries, founded by Karanja in 1997, has grown under her leadership to become one of Kenya’s largest producers of alcoholic beverages, employing more than 2,000 individuals and making substantial contributions to the country’s economy through job creation and tax payments.
With a 29-percent market share in Kenya’s alcoholic beverage industry, Keroche is the country’s second-largest alcoholic beverage manufacturer and a significant competitor to the British-controlled East African Breweries Limited (EABL).
However, the brewer is presently entangled in a legal battle with the Kenyan government over allegations of tax evasion. The government claims that Keroche evaded taxes amounting to Ksh 14.1 billion ($112.8 million), allegations that the company vehemently denies.
This is not the first time Keroche Breweries has faced such tax-related allegations. The company has been caught up in disputes in the past, raising concerns about the government’s potential use of tax issues for political purposes.
Nevertheless, Keroche is fighting back this time, determined to prove its innocence. Despite stepping down as CEO, Karanja’s impact on Keroche Breweries and the liquor industry in East Africa remains undeniable.
As the company faces legal challenges and transitions into a new leadership era, all eyes will be on how it navigates these obstacles and maintains its position in the competitive Kenyan market.
