Tahir Sheikh Said, owner of TSS group of companies died a South African hospital called Milpark Hospital. He has been ailing for the last seven months till he met his death.
He had been flown to South Africa on 15th December after his condition worsened. In 2016 he was fighting court cases against creditors who wanted to auction his properties to recover a Ksh. 1 billion shillings whose payments he had defaulted.
He was the proprietor of companies such as:
- TSS Investments Limited
- TSS Transporters Limited
- TSS Spinning and Weaving (Industrial Area Nairobi)
- Build Ginneries in Lamu and Mpeketoni
- Juja Coffee Exporters Ltd
- TSS Express Limited
- Kwale Development Farm Ltd
- Windwave Ltd
- TSS building – Mombasa
- real estate (buildings in Likoni, Nyali, go-downs, mills)
- TSS Maize Millers – later acquired by KCB
- TSS Bus Company
- Transmara Logistics Ltd
- TSS Pop In Service Stations
- TSS Unga Millers
The last firm listed above was taken over by Kenya Commercial Bank over default on Ksh 1 billion loan.
Tahir Sheikh Said is reported to have non-performing loans to a tune of Ksh. 8 billion. Research by Financial Sector Deepening (FSD) reported that banks are willing to bend backwards in order to meet the demands of huge corporate customers such as TSS. It further stated that the large corporate mostly repay their loans through refinancing while the poor people are forced to sell their assets to repay such loans.
Currently, there is a case in court filed by his children who are fighting over his wealth.
Tahir Sheikh Said’s funeral will take place today at Sargoi Muslim Cemetery. Close family members disclosed to the Daily Nation reporters that the tycoon had four wives but divorced two. In total he was a father to 20 children.
Tahir Sheikh Said was an inspiration in the way he rose from being an average man to life of abundance. The only thing that is tainting his name is the way he handled transition. He never planned for a smooth transition.
End
