Liquidators of the Akamba Public Road Services Limited (Akamba Bus) will on April 6, 2023, table a report of the liquidation process started over 10 years ago.

In a creditors’ meeting that will be held virtually, the liquidators will reveal the amount received from the liquidation process, declare distributions from the realized assets and announce the process of distribution.

“Take notice that the liquidator shall convene a meeting of the creditors of the company on 6th April, 2023 at 10.00 am; to be held virtually,”- the liquidator, through the Business Registration Service said.

The first public auction of 20 buses repossessed from the transporter started on June 6, 2012, by Garam Investments.

“We shall sell by public auction the following repossessed buses on June 6, at Leaky’s Storage Ltd, Kitui Road, Nairobi’s Industrial Area,” a 2012 auctioneer’s notice read in part.

The company, which operated across the East Africa region in Kenya, Uganda and Tanzania, was forced to end its operations due to heavy debts owed to companies such as Treadsetters Tyres Ltd, which was owed nearly Ksh40 million, KCB (Ksh168 million) and Diamond Trust Bank (DTB).

The company’s land parcel LR 209/4225 in Industrial Area, which housed the bus company’s storage and workshop sheds, was sold to Nails & Steel Products Company Ltd for Ksh130 million.

Initially, the company directors including chairman Karim Nathoo, director Boaz Nathoo and main shareholders Peter Kamba, Martin Malinda, Richard Mangeli and Kioko Musau had agreed to sell part of the company and finance a turn-around, an agreement that never materialised.

Akamba Bus brief history

Akamba Bus was founded in the 1950s in a merger with Commercial Bus Company, Makueni Bus Company and Western Bus Company.

The company was started by Sherali Hassanali Nathoo who was a member of the economically and professionally vibrant Ismaili community of Machakos.

The founder, Mr Sherali Hassanali Nathoo, died in 2000 marking the start of the end for the company, whose final collapse came in 2006 following squabbles between family members and other shareholders.

Akamba Bus is considered to be the oldest transport company in East Africa.