Listed shoe vendor Nairobi Business Ventures(NBV) has appointed 5 new directors to its boardroom. This is as Delta International FZE, UAE-the new investor in the firm, nears the end of its acquisition of the company.
On the list of new directors appointed is Haresh V Soni, who is the new non-executive Board Chairman. Haresh is also Chairman of Delta International FZE, United Arab Emirates and founder of Shreeji Group of Companies, Kenya. His investments include Shreeji Chemicals, Shreeji Glass( Uganda), Silicates ( Tanzania) manufacturers of sodium silicate.
He also has a stake in Delta Holdings Limited, a property and real estate company, Delta Automobiles Limited, Air Direct-Connect-an air cargo and aviation company and AMS-an aircraft service and hangar provider.
Dhaval V Soni has been appointed the Managing Director at NBV, Naresh Ranpura as non-executive director, Lucas Meso-Independent non-executive director and Robert Kanda Nyasini as an independent non-executive director.
Meso, a career banker with an MBA from ESAMI/Maastricht School of Management, is the current MD of Agricultural Finance Corporation.
Kanda is the founder of Rentco Africa-an established Leasing and Finance Company, where he is the CEO. He is a banker with experience in consultancy with a Masters degree in Marketing from the University of Glamorgan, UK, and a post-graduate degree in Marketing(UK) and an Associate of Kenya Institute of Bankers.
These appointments took effect on Wednesday, 18th November 2020. “This extension of suspension from trading NBV shares is to allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE( Delta), and a subscription agreement between NBV and Delta,” said NSE in a notice issued on 16th November 2020.
Dhaval Soni, aged 49 years, is the new Managing Director at NBV. He is a co-promoter of Shreeji Enterprises Limited-one of the leading transport and logistics firms with a fleet of 500 and a workforce of 700.
He is also a director of Shreeji Computers Limited, Shreeji Chemicals and Delta Holdings Limited.
Listed on the Growth and Enterprise Market Segment of the NSE, under the Commercial and Services Sector, Nairobi Business Ventures is a Kenya-based company shoe and leather accessories retail chain operating under the brand name KShoe.
NBV, one of the cheapest, small-cap counters at the NSE, was trading at 71 cents when it was suspended from the Nairobi bourse.