Billionaire Politician’s Property to be Auctioned

  • Nyeri politician cum businessman Dr Thuo Mathenge’s property is set to be auctioned on Thursday, January 28.

    In an advertisement by Graham Investments Auctioneers on a local daily, the businessman’s five pieces of land, both developed and undeveloped, as well as other properties have been put up for auction.

    The properties set to be auctioned include; four agricultural lands and one commercial property. 

    Nyeri politician cum businessman Dr Thuo Mathenge

    Nyeri politician cum businessman Dr Thuo Mathenge

    Daily Nation

    The agricultural pieces include; a vacant two-acre plot in Kamiru, a 0.1235-acre developed plot within Gachika area, a 1.6-acre plot within Gachika area  and a vacant 14-acre plot in Kamiru area in Chaka.

    The commercial property, which is located along the Nairobi – Nanyuki road, hosts his Brade Gate Poultry Industries and Brade Gate Chicken, plant and machinery, administration block, hatchery block, bakery, extension block, supermarket, printing press, a restaurant and others.

    “The parcel is divided into two sections: the administration and restaurant sections. The administration section comprises the administration block, hatchery block, bakery go-down with an extension block, store block, gate house, concrete water tank, generator cage and semi-permanent structures,” reads the advertisement.

    A number of banks had filed cases in court to recover their money including; I&M Bank, Family Bank, and Jamii Bora, which he owes Sh95 million, Sh121 million and Sh80 million, respectively.

    Thuo had run to the courts in an attempt to save his property but was unlucky to get a reprieve.

    In a previous telephone interview with the Nation, Mathenge attributed the happenings to a bad economy and predatory banks that were colluding with the courts, alleging that they wanted to run him out of business.

    “What they want to sell is not even one percent of my property and they have undervalued them. Why are the courts allowing this?” he stated.

    He recently opened the Bantu One Africa Hotel in Nyeri which is reported to be an investment worth over Ksh1 billion. 

    The businessman unsuccessfully vied for the Nyeri gubernatorial seat in 2013 after losing to the late Nderitu Gachagua.

    He would later try to vie for the seat in 2017 but was barred by the Independent Electoral and Boundaries Commission (IEBC) after his academic papers were questioned.

    Nyeri politician cum businessman Dr Thuo Mathenge

    Nyeri politician cum businessman Dr Thuo Mathenge


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
WP Twitter Auto Publish Powered By :