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Multi-Billion Assets Njue Helped Catholic Church Acquire

  • The financial might of the Nairobi Catholic Archdiocese was laid bare during the thanksgiving ceremony of His Eminence retired Archbishop Cardinal John Njue on Saturday, March 13, 2021.

    Archdiocese Financial Administrator Father Simon Ng’ang’a said that Njue helped create Ksh 2.8 billion investments for the church in Nairobi since he took over the reins in 2007.

    The congregation at St Mary’s School Grounds was told that the annual Family Day event had brought in Ksh 1.37 billion in 11 years.

    Nairobi Catholic Archbishop John Cardinal Njue addressing a congregation during a past church service.

    Nairobi Catholic Archbishop John Cardinal Njue addressing a congregation during a past church service.

    Daily Nation

    The church used the money to build the Cardinal Otunga Plaza in Nairobi CBD for Ksh 916 million. 

    The catholic church was also able to build a clergy home for Ksh 419 million.

    “The most recent project accomplished is our underground parking that cost Ksh 959 million,” noted Father Ng’ang’a. 

    “His Eminence has established the Caritas Microfinance Bank, which is owned by the Archdiocese of Nairobi. It has created an avenue of economically empowering institutions and people in the archdiocese,” he added.

    Caritas Microfinance Bank has seen a direct capital injection of Ksh 310 million during Njue’s tenure. 

    The financial administrator also said that the church had injected Ksh 81 million into Pacis Insurance Company. 

    Other than a Ksh 208 million pension scheme for priests, Njue channelled at least Ksh 200 million into establishing Radio Maria. 

    “The capital investments and the cash equivalents that have been invested by the Archdiocese of Nairobi during the time His Eminence add up to Ksh 2.8 billion,” Father Ng’ang’a concluded.

    During Njue’s tenure, 15 new parishes were created in the Archdiocese and he ordained 74 priests. 

    Auxiliary Bishop David Kamau was appointed the apostolic administrator and took over from Njue on January 22. 

    Interior CS Fred Matiangi with Cardinal John Njue during a meeting with religious leaders on May 26, 2020

    Interior CS Fred Matiangi with Cardinal John Njue during a meeting with religious leaders on May 26, 2020

    File

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