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Listed paint and coatings manufacturer Crown Paints Kenya Plc has appointed Mustafa Turra as its new Group Chief Executive Officer (CEO), succeeding Dr. Rakesh Rao who has held the role for two decades.
- •Turra, formerly Business Head and Vice President of Olam Agri Nigeria’s Soy Crush Integrated Feed & Protein business, brings over 20 years of international leadership experience.
- •Under Dr. Rakesh Rao, the company grew from a mid-sized local player into one of East Africa’s leading paint and coatings manufacturers, with operations in Kenya, Uganda, Tanzania, and Rwanda.
- •Crown Paints is listed on the Nairobi Securities Exchange and offers decorative paints, automotive coatings, industrial finishes, and sealants.
Turra oversaw one of Sub-Saharan Africa’s largest feed operations and has worked across Africa, India, the Middle East, South Asia, and the Caribbean.
He holds an MBA in Strategic Management and Marketing from XLRI Jamshedpur and a B.Tech in Electrical Engineering from Jamia Millia Islamia.
Outgoing Dr. Rakesh Rao’s Legacy
When Rao assumed leadership in 2005, Crown Paints reported a net profit of KSh 34.4 million on revenues of KSh 1.44 billion. Two decades later, the company has grown into a regional force with improved profitability and diversified markets.
Rao is credited with embedding stronger management systems, driving innovation, and guiding the firm through inflationary pressures, supply chain disruptions, and fierce competition.
He also introduced industry training programs, including the Team Kubwa Initiative, to uplift painters through skills development.
For real time market updates and analysis, join our WhatsApp Channel.The leadership change comes at a time of renewed growth and restructuring. Crown Paints recently rebounded from a loss in 2023 to a net profit of KSh 544 million in 2024, with revenues up 8%.
In mid-2025, the firm also lost six senior executives, underscoring the scale of internal changes underway. The board highlighted Turra’s global perspective and transformation record as critical for navigating this new phase.
In the first half of 2025, the company reported a 483% jump in net profit to KSh 437 million, from KSh 75 million in the same period of 2024.
- •Revenue rose nearly 20% to KSh 7.41 billion, supported by higher sales volumes.
- •Profit before tax climbed almost fourfold to KSh 548 million, while cash reserves surged to KSh 635 million from only KSh 89 million a year earlier.
- •Total assets expanded 10.3% year-on-year to KSh 8.93 billion, showing improved balance sheet strength. The board thanked Rao for his leadership and investors will watch as Turra builds on that legacy.