News

Kenyatta Family Company Bagged KSh 2.6b Contract to Construct Police Houses after Ruto Was Sidelined

Kenyatta Family Company Bagged KSh 2.6b Contract to Construct Police Houses after Ruto Was Sidelined

President Uhuru Kenyatta was ranked fourth
in terms of wealth in Kenya in a January Oxfam survey, with a net worth
estimated to be over KSh 60 billion.

The report issued a warning, noting that
Uhuru’s riches was probably related to his wider family. The Kenyatta family
has an interest in the banking industry as well as in the processing of milk,
transportation, hospitality, and real estate.

The Kenyatta family is the owner of Koto
Housing Limited, a real estate company. The business, which offers cheap
housing and building solutions using alternative building technology, was
founded in 2014, according to its website. According to a Daily Nation report,
the National Police Service (NPS) awarded Koto Housing Ltd a KSh 2.6 billion
contract to build homes for police officers.

The contract required the real estate
company to build 2,000 units around the nation. Koto and NCBA Bank Kenya
collaborated to raise the project’s funding. A 13 percent interest in the
lender is under the ownership of the Kenyatta family. The agreement was made
following NPS’s termination of its business relationship with Matiny Ltd, a
company connected to Deputy President William Ruto, his wife Rachel, and their
daughter Charlene Chelagat.

In related news, the Kenyatta family is
growing their empire by building the Northlands
dream community next to Kenyatta University in Ruiru, Kiambu county
.
Over KSh 500 billion is anticipated to be spent on the huge project. Due to its
proximity to the Jomo Kenyatta International Airport, it is being built as a
replacement for Nairobi.

On more than 11,000 acres of land, the city
would be made up of residential, commercial, and industrial buildings that
could accommodate over 250,000 people. Its building coincides with a dispute
between Uhuru and Kenyatta University over a 410-acre plot of land.

Read
more here



Loading .....