A Turkish logistics company, the Çelebi Aviation Holding, is reported to have taken over operations of the Moi family-owned Siginon Aviation Company.
Siginon Aviation is owned by the Siginon Group, which is part of the of the multi-billion wealth held by former President Daniel Moi’s family.
It is intimated that the Moi family sold 51 percent stake to Çelebi Aviation Holding.
The news were first leaked by Çelebi Aviation Holding projects coordinator Ferda Yakar who has been appointed the CEO for the East African Region.
Siginon Group is an integrated end to end logistics and air cargo solutions provider based in Kenya, Tanzania and Uganda.
The Siginon Group, registered in 1985, has the Kabarak Farm Ltd, Migotiyo Plantations and Moi High School Kabarak as shareholders, and does not have individual shareholders.
Zambuni Shaun Aluni, Meshack Toroitich and Joshua Kulei act as the directors of the group.
Joshua Kulei was the personal assistant to former Kenyan president Daniel Arap Moi when Daniel was the president of Kenya. He has been involved in multiple corruption scandals in Kenya such as the Goldenberg scandal.
Both companies are yet to reveal the cost of the deal.