Carbacid Investments Limited is an investment holding company invested in carbon dioxide gas production processing and marketing through its main operating subsidiary, Carbacid (CO2) Limited. Carbacid Investments Limited also has investments in property, in shares in other listed companies, investments in bonds and financial assets.
The source of Carbon Dioxide in Kerita Forest was first discovered in 1933. It was not until 1957 that serious investigation into its nature when Kagwe Limited was established in 1958, in order to process the gas, and the first 150 Kg per hour high pressure plant was installed. The plant, located at the well head, commenced processing of Carbon dioxide into liquid and dry ice.
This small scale production facility progressed satisfactorily for some time and in 1960, the first storage tank and road tanker were acquired The challenges associated with handling and distribution were addressed by adopting a bulk CO2 system.
Business to the entire East African region had developed sufficiently by 1971 to justify the setting up of an office and distribution depot in Nairobi with a stock holding facility, cylinder filling unit and dry ice plant. In order to finance this expansion and the purchase of a larger production plant, the company changed its name to Carbacid (CO2) Ltd., and a parent company, Carbacid Investments Limited was floated on the Nairobi Stock Exchange. Business continued to develop rapidly necessitating the purchase of more storage tanks, road tankers and additional processing capacity By the late 1980s the Group began exporting to the neighbouring countries of Uganda and Tanzania.
In order to continue to meet the ever-high standards of the beverage industry the Group, in 2001, installed a state of the art catalytic oxidation unit to further purify the CO2, thus making Carbacid (CO2) Limited the only supplier of the highest quality natural Carbon Dioxide (+99.99% pure ) in Africa.
Today the Group has two mines, each with full processing and quality control facilities, a fleet of long haul trucks with cryogenic tankers and many CO2 storage tanks located at customer premises. It’s owned fleet of pressurized rigid and semi trailer tankers distribute CO2 all over the East Africa and Central Africa region.
Board of Directors
Dennis N O Awori (Chairman)
Amb. Awori joined the Board on 7th August 2014. He graduated with an honours degree in Aeronautical Engineering from the University of Manchester in 1976 and has held senior positions in the motor industry during his career. Dennis was the Ambassador of the Republic of Kenya to Japan and Korea from 2004 to 2009. Currently, he is the Chairman of both Toyota Kenya Limited and Bank of Africa Limited and is also on the Boards of several reputable companies in Kenya.
Baloo C Patel
Mr. Patel joined the Board in 2002. He is a significant shareholder in the Company and has extensive business interests in Kenya. He is also a Director of several other unlisted companies. His varied business and investment experience bring a wide range of additional skills to the Board.
Mukesh K R Shah
Mr. Shah joined the Board in 2002. He is a member of the Institute of Certified Public Accountants of Kenya, the Institute of Certified Public Secretaries of Kenya and a Fellow of the Association of Chartered and Certified Accountants of the UK. He is a former partner of Price Waterhouse (now PriceWaterhouseCoopers) and a director of a leading consultancy firm that specialises in providing strategic and business advisory services to family-owned businesses. Mr Shah is substantially a non-executive Director, but has certain specific responsibilities for financial matters of the Group.
Susan Mudhune MBS
Mrs Susan Mudhune joined the Board in July 2017. She has a wealth of experience in the corporate world having served on a number of dynamic and successful Boards. She is a member of various business, professional and community service committees. Susan is a consultant in corporate governance and leadership and is a certified trainer in corporate governance with consultancy and training experience in the region. Susan holds degrees in Bachelor of Arts and Masters in Business Administration from the University of Nairobi.
Dr. (Eng.) Edward Musebe Achieng, Ph.D
Eng. Edward Musebe was appointed as an independent non-executive Director of the Company with effect from 11 December 2018.
Edward holds a Ph. D in Strategic Management from the University of Nairobi, MBA (Strategic Management, from United States International University - Africa) and a BSc degree in Mechanical Engineering (University of Nairobi). He has gained a wealth of business management experience having worked as Managing Director of Chemelil Sugar Company Limited and Amloy Engineering Limited; and various positions at Unga Limited, East African Cables Limited, Diageo Group and Magadi Soda Company plc.
He is currently an Asst. Professor of Strategy at the United States International University - Africa. Edward was also non-executive Chairman of Kenya Broadcasting Corporation from 2013 to 2016, Board Member of Kenya Institute of Mass Communication and part time lecturer at the University of Nairobi Institute of Tropical and Infectious Diseases (UNITID).
Rohan B Patel
Mr Rohan B Patel was appointed as a Director of the Company with effect from 29 May 2020. Rohan holds an MBA from International Institute for Management Development (IMD); MSc Management and BA Geography, London School of Economics and Advanced Management Programme (AMP), Harvard Business School.
He has a wealth of business experience having worked as the Head of Corporate Development of a diversified investment group having investments in real estate investment and development, insurance and asset management. Previously Rohan worked for KPMG Eastern Africa.
John P N Simba
Dr John P N Simba was appointed as an Independent Non-Executive Director on 18th May 2022.
Dr. Simba is an Advocate of the High Court of Kenya having obtained a Bachelor of Laws (LLB) from the University of Dar-es-Salaam and a Diploma in Law from the Kenya School of Law. He has also been awarded an Honorary Doctor of Laws (LLD) from the University of Nairobi, for his services to the University and to the nation.
He is the Senior Partner at Simba and Simba Advocates. He also currently serves on a number of Boards of Private and Public Companies and is the current Chairman of Sanlam Kenya PLC, Bamburi Cement PLC, and Funguo Investments Limited. He has previously been the Chief Executive Officer at the Industrial and Commercial Development Corporation (ICDC) and the National Bank of Kenya.
Dr. Simba brings to the Board a wealth of legal and business management experience that will be very valuable for the Carbacid Group.