Edward Kirathe is the founder and CEO of Acorn Holdings Limited, a leading real estate company focused on affordable housing and student accommodations.
With over 20 years of experience in the East African real estate sector, he has overseen the development of significant projects, including Qwetu and Qejani student residences.
Under Kirathe’s leadership, Acorn issued Africa’s first Green Housing Bond and launched innovative real estate investment trusts (REITs) for student housing.
Education
Kirathe holds a Bachelor of Architecture from Jomo Kenyatta University of Agriculture and Technology.
During his university years, he worked part-time jobs, including as a debt collector, to support his studies.
Kirathe’s educational background laid the foundation for his successful career as the CEO and founder of Acorn Holdings.
Early career
Kirathe began his career as a debt collector while pursuing his Bachelor of Architecture at Jomo Kenyatta University.
This part-time work provided him with valuable insights into business operations and customer interactions while helping him finance his education.
“While at university I worked at Diners Club, a credit card company. I was a debt collector for about three months. I used to earn peanuts, but it paid my bus fare and entertainment. I learnt a lot collecting debt from people. It was quite interesting. I took up part time jobs all through university where I was studying architecture,” he said in a past interview.
After completing his degree, he joined TRIAD Architects as a senior architect, where he worked from 1997 to 2001.
In this role, he was involved in designing various architectural projects, which honed his skills in project management and design and laid the groundwork for his future endeavors in real estate development.
Following his time at TRIAD Architects, Kirathe took on the role of Managing Director at Consolsia Limited from 2002 to 2006.
Founding Acorn Group
In 2008, Kirathe founded Acorn Group with a vision to address the housing deficit in urban areas while catering to the growing student population.
Under his leadership, Acorn has launched several innovative projects, including Qwetu Residences, a series of purpose-built student accommodations designed to provide safe and affordable living spaces for students, and Qejani Housing, which targets young professionals and low-income earners.
In addition to these projects, Acorn has made significant strides in financial innovations by issuing Africa’s first Green Housing Bond in 2020.
This initiative raised funds to finance environmentally sustainable housing projects.
Furthermore, Acorn has introduced real estate investment trusts (REITs) focused on student housing, making it easier for investors to participate in the real estate market while providing much-needed capital for development.
Acorn Group shareholders
The key shareholders of Acorn Group include Kirathe who holds a significant stake of 30.24%.
Another shareholder is Kenneth Luusa, who is the Chief Commercial Officer with a stake of 6.5%.
Kenneth oversees commercial strategies and partnerships within the company, and his expertise in business development has helped Acorn forge strategic alliances and enhance its market presence.
Additionally, Peter Njenga serves as the Chief Operating Officer and holds a stake of 6.02%.
He is responsible for the operational efficiency of Acorn’s projects, managing day-to-day operations to ensure that the company’s developments meet quality standards and timelines.
A significant portion of Acorn Group is owned by Helios Investment Partners, which holds approximately 50% of the company.
Helios is a leading private equity firm based in London that specializes in investments across Africa.
Their partnership with Acorn began in 2015, bringing substantial capital and expertise to help scale the company’s operations and expand its portfolio.
Qwetu Hostels
Qwetu Hostels provide modern accommodation for students in Nairobi, housing over 4,300 residents from various universities.
They offer amenities such as Wi-Fi, study spaces, and recreational areas, ensuring a conducive living environment.
The hostels include several locations like Qwetu WilsonView and Qwetu Hurlingham, with monthly rents ranging from Ksh 13,000 to Ksh 32,500 depending on room type.
Managed by Acorn Group, Qwetu aims to deliver quality services and a strong community atmosphere for students.
