NAKURU, Kenya Jul 11 – Trade and Investment Cabinet Secretary Lee Kinyanjui has urged private companies to consider listing on the Nairobi Securities Exchange (NSE), saying the move would unlock access to long-term capital and support business expansion.
Speaking during the 30th anniversary celebrations of Riva Petroleum Dealers Limited in Nakuru, Kinyanjui said listed companies enjoy numerous advantages, including increased liquidity for founders, tax incentives, improved corporate governance and stronger brand visibility.
He noted that companies listed on the NSE can raise capital through the capital markets, reducing overreliance on bank loans to finance growth and acquisitions.
“Listed companies have access to long-term financing through the capital markets, making it easier to fund expansion and strategic investments without depending entirely on bank borrowing,” Kinyanjui said.
The CS also emphasized the importance of persistence and discipline in entrepreneurship, citing the journey of Riva Petroleum founder and Managing Director Engineer Peter Njeru as an example of how resilience and consistency can build successful businesses.
“Some people quit one business and jump to the next too quickly. Many exit just when the first lesson is about to begin,” he said.
Kinyanjui observed that Nakuru has historically produced some of Kenya’s most successful businesses, with several leading supermarket chains having started in the city before expanding nationally.
He described Nakuru as an ideal environment for start-ups and encouraged young entrepreneurs to begin small and gradually scale up their enterprises.
“Nakuru offers a conducive environment for entrepreneurship, and many successful Kenyan businesses have their roots here,” he said.
The CS commended Njeru for building a company designed to outlive its founder and for involving family members in the business to ensure continuity and sustainability.
The anniversary event was attended by Nairobi Governor Johnson Sakaja, KCB Group Chief Executive Officer Paul Russo and Vivo Energy Kenya Managing Director Peter Murungi among other business leaders.
Founded in Nakuru in 1996 using a Sh45,000 SACCO loan, Riva Petroleum Dealers Limited has grown from a small start-up into a nationwide business with more than 60 branches spread across all 47 counties.
The company also marked 30 years of partnership with Vivo Energy Kenya, a collaboration that has made Riva one of the country’s leading single-brand lubricants distributors.
Peter Murungi described the partnership between Vivo Energy and Riva Petroleum as one of the longest-standing distributor relationships in Kenya’s lubricants industry.
“The partnership between Vivo and Riva is the longest-standing distributor relationship Shell has had in Kenya,” Murungi said.
“It has been a remarkable journey with a leader whose passion has also contributed to the growth of other distributors.”
Riva Petroleum founder Engineer Peter Njeru said the anniversary celebrations reflected three decades of resilience, integrity and strong partnerships with banks, suppliers and business associates.
“The story of Riva Petroleum is one of resilience, partnership and conducting business with integrity and reliability,” Njeru said.
“These values have sustained the company for three decades and have taught us that nothing is impossible.”
The success story of Riva Petroleum highlights the growing role of homegrown enterprises in driving Kenya’s industrialisation, job creation and economic growth agenda.