KenolKobil to Invest $10 Million in Real-Estate Projects, Chairman Says

KenolKobil Ltd., a Kenyan fuel retailer with operations in nine African nations, plans to invest $10 million in real-estate projects, Chairman Jacob Segman said.

The company, which has a 25 percent share of the oil market

of East Africa’s biggest economy, plans to develop shopping malls in Kenya, Rwanda, Ethiopia and Zambia, Segman told reporters today in the capital, Nairobi.

“We believe it is the future for oil companies to venture into,” Segman said.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net

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