Cable manufacture East African Cables has officially appointed Mr. Paul Muigai as the Chief Executive Officer (CEO) on a permanent basis after serving the company on an interim basis since September 1, 2017, the announcement came in the form of a public notice by EA Cables board chairman Mr. Michael Waweru.
In addition to serving as company CEO, Mr. Muigai will also join the board as an executive director-a director with management roles. “The board is confident that with this appointment, the company has the right team place to build on the existing strengths for future sustainability and growth, said Mr. Waweru.
Paul Muigai is experienced in supply chain management, having worked in several capacities within the supply chain at fast moving consumer goods company Unilever. Where he served as supply chain director, in addition to holding regional roles in the areas of supply chain optimization, safety, health and eco-efficiency. He is a graduate of the University of Nairobi holding a Bachelor of Science degree in mechanical engineering.
Before taking over as interim CEO, Mr. Paul Muigai was the company’s Chief Operating Officer (COO), he replaced Mr.Peter Arina who resigned from his CEO role on 31st August 2017 after serving for less than two years at the company. At the time his resignation, East African Cables had declared a half year before tax loss of 232.4 million, an 11 percent increase in contracted business and a 30 percent revenue drop in non-contracted business; for the six months ended June 2017.
The company attributed its challenges to difficulty in accessing credit for working capital due to decreased lending resulting from the introduction of interest rates caps in Kenya. EA Cables has a strong East African presence through its distribution network in Uganda, Rwanda, Burundi, Southern Sudan and Ethiopia, with four manufacturing facilities in Nairobi (two), Dar-es-Salaam and Eastern DRC.