For decades, the OTC building has stood as one of the most recognizable landmarks in Nairobi’s Central Business District (CBD). This well-known street has served as a key reference point for city residents and visitors from other towns alike. However, the building has not been without controversy, particularly regarding its prolonged construction period, during which it remained under scaffolding and safety nets for over a decade.
A Symbol of Nairobi’s Urban Landscape
Despite the delays and ongoing debates surrounding its completion, the OTC building remains a prominent fixture in the city. Its distinct appearance has attracted the attention of many, yet few people are aware of its actual ownership. In this feature, The Daily Sauce uncovers the business mogul behind this historic structure.
Origins of the OTC Name
The name OTC traces back to the Overseas Trading Company, a London-based firm that introduced 13 buses to Kenya in 1934. Twelve of these buses were designated for passenger transport across the country, including long-distance routes to Kampala, Uganda. Over time, the OTC buses became widely recognized in Kenya and throughout East Africa.
Due to its immense popularity, the company established a bus stage on Ronald Ngala Street, Nairobi. This location quickly became a well-known transit hub, maintaining its OTC identity even after the transformation of infrastructure and transport services. The original bus service later evolved into the Kenya Bus Service (KBS), yet the OTC stage retained its name, cementing its historical significance.
Ownership of the OTC Building
The multi-story OTC building, situated along Ronald Ngala Street, is owned by Kenyan billionaire Victor Maina Ngunjiri. He acquired the property in 2006 from Ravinder Lakhamshi Shah and Nilesh Dayalji Shah at a price of KSh 72 million.
However, the acquisition was not without hurdles. A prolonged legal dispute arose between Victor Maina and Schon Noorani, a tenant in the building. Noorani accused Maina of causing business disruptions, leading to a court battle that lasted six years. Ultimately, Maina triumphed in the case. In 2023, he undertook renovations, transforming the once-neglected building into the now-thriving Wholesale Mall OTC.
Victor Maina Ngunjiri: From Humble Beginnings to Billionaire Status
Victor Maina’s journey to wealth is a testament to resilience and determination. Despite his billionaire status today, he comes from a modest background. In a past interview, the Thika-based tycoon revealed that he started as a hawker at Marikiti Market before moving to Nairobi’s Muthurwa area, where he worked alongside his wife. Through persistence and strategic business investments, he expanded his empire significantly.
Today, Maina owns multiple properties, including residential flats, vast tracts of land, and high-value real estate developments. Besides the OTC building, he is also the proprietor of the well-known Maathai Supermarket. While his exact net worth remains undisclosed, he is undoubtedly one of Kenya’s wealthiest entrepreneurs.
A New Chapter for OTC
With its construction now complete, the OTC building stands as a testament to Nairobi’s evolving urban landscape. It continues to serve as a key commercial hub, further solidifying its place in the city’s history. Whether as a historical transport reference or a modern business center, OTC remains an iconic part of Nairobi’s ever-changing skyline.
