Humphrey Kariuki: The Billionaire Who Lost It All

Africa Spirits Limited (ASL), the alcoholic beverage enterprise owned by Kenyan billionaire Humphrey Kariuki, has entered administration due to ongoing tax disputes with the Kenya Revenue Authority (KRA). Effective June 17, 2025, Peter Kahi from PFK Consulting Limited has been appointed as the administrator, taking control of all company assets and operations.

This move suspends the authority of the company’s directors and representatives to conduct business without Kahi’s written approval. Creditors are required to submit their claims against ASL by July 18, 2025. The company’s difficulties began in 2019 when the KRA seized its factory in Thika over allegations of tax evasion amounting to Ksh41 billion ($317 million), uncovering counterfeit excise stamps and illegal alcohol products.

Although ASL regained its factory in late 2022, its operations have remained inactive since the shutdown. Founded in 2002, ASL was once recognized as Kenya’s premier indigenous alcoholic beverage manufacturer.

Beyond ASL, Kariuki has established a diverse business empire, including the Janus Continental Group, which operates across various sectors in multiple countries, and Dalbit Petroleum, a major oil distributor in East and Southern Africa. His portfolio also features the luxury Fairmont Mount Kenya Safari Club and The Hub shopping mall in Nairobi’s affluent Karen suburb, alongside a wildlife conservancy and animal orphanage.

Kariuki began his entrepreneurial journey in the early 1980s after a stint at the Central Bank of Kenya. His ventures include Nairobi’s famed Green Corner restaurant, recognized by former US President Barack Obama as a must-visit site during his Kenya visits.

Outlook and market implications

The administration of Africa Spirits Limited signals continued uncertainty for Kenya’s local alcoholic beverage sector amid regulatory scrutiny. Investors and industry watchers will closely monitor how the restructuring under PFK Consulting affects the company’s future operations and Humphrey Kariuki’s wider business interests.