About Emo Investments Ltd
Emo Investments Ltd is a Public Company which started it’s operations in the year 2006 with restricted shareholding to members of EMO Community Development Society mainly residing in the Rift Valley, Kenya. Membership has since been opened to include other Nomadic and ethnic communities as far as Turkana in the North and Samburu in Central Rift to cover a total of 11 counties of Uasin Gishu, Narok, Transzoia, Kericho, Nakuru, Baringo, Nandi, Kajiado, Elgeyo-Marakwet, Samburu, Turkana. Membership is also found in the Diaspora (Kenyan’s residing in the USA and United Kingdom).
The Society was started initially as a fellowship in the year 2001 and was later registered under the Societies Act in December 2006. In order to effectively carry out its mandate, the Society established two other key Institutions; Emo Investments and Emo Foundation and retained Emo Fellowship as a department in the Society.
Emo Investments is tasked to handle the wealth creation for members of the Society. Shareholding in the Company is limited and available to members in good standing in the Society. Currently, the society has over 17,000 members while the company has over 6,500 shareholders.
Emo Investments Ltd is managed by a Board of Directors whose current Chairman is Dr Julius Kipngetich. Other Directors are Mr Hosea Kimutai (Company Secretary/Legal advisor), Bishop Jackson Kosgei (Patron of the Society), Samuel Arap Ngeny, John Ayabei, Joseph Terer, Charles Meto, Dr Nicholas Leting and John Sangut. The Board manages the firm through a secretariat based in Nairobi with branches in most regions of Western Kenya namely Eldoret, Nakuru, Kitale, Transmara, Narok, Kericho, Mombasa, Eldama Ravine, Iten and the Diaspora (representative in Washington DC). The secretariat is managed by a General Manager with twenty six staff members spread over the regional offices.
Authorized Share Capital - Ordinary Share capital of Ksh 5 million divided into 250,000 shares of Kshs 20 each.
The broad objectives of the company are:-
• Promotion of Investments targeting Banking and Financial services (priority), Agriculture, manufacturing and Tourism.
• Promotion of the concept of land consolidation and a return to commercial farming away from the sub-division of arable land at the family level;
• Development and provision of one stop investment Centers to facilitate Investment opportunities to it’s members.
• To Invest in profitable ventures that will bring economic empowerment leading to the social transformation of the communities.
The company has just finalized the purchase of 570 acres of arable land in Uasin Gishu District to show case commercial farming practices and develop a value addition manufacturing facility. The funds were raised through a capital call/private placement.
In terms of priority investment, the next asset acquisition is the purchase of banking and/or financial services. In this regard, Emo Investments Board was mandated in the last AGM by members to either start a Micro-Finance Institution and/or to purchase a stake in a Commercial Bank, notably a microfinance bank. Other projects in the medium term include rollout of a passenger transport services and distribution of solar lighting solutions.