Billionaires Who Built Nairobi: The Men Behind Lloyd Masika Empire

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Billionaires Who Built Nairobi: The Men Behind Lloyd Masika Empire
Billionaires Who Built Nairobi: The Men Behind Lloyd Masika Empire

Africa-Press – Kenya. When taking a tour of Nairobi, chances are that you will not miss the signage of the ubiquitous Lloyd Masika Company on several buildings, ranging from high-end malls to residential buildings.

It is estimated that the real estate as well as valuation company manages a property portfolio comprising over 1 million sq.ft. of commercial space and over 800 residential units.

So little is, however, known of the two billionaires that put in the sweat and long hours to built the company into the behemoth that it is today.

Founded in 1979 with two colleagues, John Lloyd and David Masika, the company has a rich portfolio of properties they manage – including Sarit Center in Westlands.

The journey to the top has, however, been an arduous experience for the two since leaving Tysons Ltd where they met.

Lloyd was the first to secure employment at the company, which is now 97 years old, in 1969 where he worked as a valuer. Previously, he had worked as a valuer at the Department of Lands in 1964 and was subsequently seconded to the Ministry of Housing. During his tenure, he got promoted and served as a Managing Director.

Lloyd is a Chartered Surveyor, a Registered and Licensed Valuer and Estate Agent but retired in 1995 and is now a Consultant with Lloyd Masika Limited.

Masika, on the other hand, joined Tysons in 1974 and by 1978, he had already become a director.

In 1979, the two exited the company to found their own valuation firm Lloyd Masika that has expanded and now offers estate agency and management services.

Masika is a Land Economics graduate from the University of Nairobi, a registered and licensed valuer, as well as a real estate agent with vast experience in agricultural valuations, letting of commercial properties and preparation of feasibility studies.

He has over his successful career held positions as the Managing Trustee of National Social Security Fund, Managing Director Tana & Athi Rivers Development Authority (TARDA), Chairman of the Kenya Power and Lighting Company, National Bank of Kenya as well as the Chairman of the Board of Kenya Meat Commission.

Masika, worked used to sell cotton to Makueni Ginneries as a boy, tendered his bid to purchase Makueni Ginneries in 2000 in an effort to revive the once vibrant sector.

In a 2013 interview, he noted that he had set up the company and bought new ginning machines valued at Ksh2.5 million each. He was producing 740,000 kgs of cotton per year.

In 2017, Masika unsuccessfully the Makueni gubernatorial seat. In May 2018 he lamented that he had been rigged out in favor of current Makueni Governor Kivutha Kibwana and left the Wiper Party to form his own.

Other high end properties managed by Lloyd Masika include Telposta Towers, Crossroad Mall, The Mall in Westlands, Corner House, Stanbank house, Parklands Plaza, Galana plaza and Barclays Plaza among others.

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