Shaka Kariuki, a Nairobi -based businessman, has been named the new chair of the Competition Authority of Kenya (CAK) board by President William Ruto.
After Dr. Ruto overturned the appointment of Ambassador Nelson Ndirangu as CAK chairman, Mr. Kairuki, who also serves as board chair of the company TransCentury, which is registered on the Nairobi Securities Exchange (NSE), will take office for a three-year tenure.
“I, William Samoei Ruto, President and Commander-in-Chief of the Kenya Defence Forces, appoint Shaka Kariuki to be the Chairperson of the Board of Directors of the Competition Authority, for a period of three years, with effect from the February 10, 2023. This is done in exercise of the powers granted by section 10 (1) (a) of the Competition Act. Dr. Ruto declared in a gazette notification that Amb. Nelson Ndirangu’s appointment had been canceled.
Amb Ndirangu was one of hundreds of people who former President Uhuru Kenyatta appointed to various governmental positions in July 2017 in advance of the August 2022 elections. Mr. Ndirangu’s three-year term as CAK chairman was extended by Mr. Kenyatta for a another three years. After Adano Wario was named acting Director-General, the hiring of Mr. Kariuki is the competition watchdog’s second significant change.
Following the resignation of longtime CAK boss Wang’ombe Kariuki when his term had expired, Mr. Wario was appointed. Shaka Kariuki serves as Kuramo Capital Management’s co-CEO as well. He has previously presided over Deseret First Credit Union.
In addition to being on the boards of Leon Business Solutions in Zimbabwe, Solo in Nigeria, Sepfluor in South Africa, and the Marriott School of Management at Brigham Young University, he currently holds the position of Executive Chairman of NAS Foods in Ethiopia.
Mr. Kariuki has a BS in Economics, an MBA from Brigham Young University with a concentration in Finance, and an MA in Government from Harvard University.