The Overseas Trading Company, famously known as OTC, is a building that represents both the physical and symbolic ascendency of Victor Maina from humble origins to a billionaire standing. It’s located along the Ronald Ngala Street in Nairobi.

In the mid-2000s, Maina made a bold move into real estate, where he amassed a fortune. In 2006, he purchased the iconic building, which was the site of the legendary Jack n Jill Supermarket, at a cost of approximately Ksh 72 million. He bought the OTC building from Ravinder Lakhamshi Shah and Nilesh Dayaliji Shah.

At the time of the sale, all tenants were still in occupation and Jack n Jill Supermarket was among the first tenants.

However, the proprietorship of Maina shortly resulted in a legal battle with the owner of the supermarket who was Schon Noorani which later lasted for 6 years.

Maina asked Noorani to move out of the building to make space for repairs recommended by the Business Premises Rent Tribunal in 2009 but he opposed this decision.

Later on in 2013, the courts ruled in favour of Main,a making Noorani suffer losses after Jack n Jill Supermarket was demolished.

Over the years, the building was known for the green safety net wrapped around it, which was removed in March 2023. The building is being transformed today into a Wholesale Mall OTC, marking the beginning of a new era in the world of retail in Nairobi.

The Face of Change

Victor Maina was born and raised in Thika. He began his journey as a hawker in Marikiti and Muthurwa markets, selling small items to make ends meet.

He frequently reflects on those poor years in an effort to motivate young business people.

“Before relocating to Muthurwa and other areas of the city, I worked as a hawker here in Marikiti. I’m not saying this as a joke, but I’m encouraging you to give your best shot,” he said.

The initial significant discovery that Maina made was in construction, where he was the first to import a high-grade machine-cut stone machinery out of Italy. That business was the basis of the fortune that he would then invest in real estate.

A Retail Empire:Mathai Supermarket

In 1992, he started Mathai Supermarket which was named after the late Environmentalist and Nobel Peace Prize Winner Professor Wangari Maathai whole strength and determination inspired him.

In September 2014, the retail chain opened its first branch in the Nairobi Central District (CBD) at the OTC building and it has since expanded to Thika, Ruiru, Murang’a, Nyeri, Karina, Embu and Meru.

Maina is chairman of the fast-growing brand, which competes with the largest retail players in Kenya.

Origins of the OTC Name

It’s based on the Overseas Trading Company, which was a London-based company that brought 13 buses to Kenya in 1934 out of which 12 were used on passenger routes throughout the nation.

Their growing population led the company to set up a bus terminal all Ronald Ngala Street, which became the main transit centre, and it was still referred to as OTC despite the services it offered developing into the Kenya Bus Service (KBS).

Diversified Investments

In addition to Mathai Supermarket and the OTC building, Maina owns Klub Liquid Cash and Klub Image Hotel in Thika, a number of residential flats and 17 acres of land that has been locked in an unending court battle.

Story of Grit and Vision

From selling goods on the streets of Nairobi to defining the skyline of the city, the success of Victor Maina is a tale of miraculous strength and a keen sense of possibilities.

His portfolio in retail,real estate and hospitality is evidence of an underterred focus on growth-evidence that the most unconventional of starts can result in long-term success.

A picture of Mathai Supermarket in the Nairobi CBD
Photo/UGC