Tuesday, September 27, 2022

See amount of wealth Kibaki left for his family

What is the amount of wealth Kibaki left for his family? Well, the late president Mwai Kibaki who was buried in Othaya on Saturday April 30 left behind wealth amounting to billions of shillings.

This wealth is mainly in assets and properties that he accumulated over the years. He had interests in real estate, hospitality, banking and ranching.

Most of Kibaki’s wealth was kept as a top family secret, and the public may never fully know the actual amount of his net worth.

However, some of his previous dealings have shed light on what he owned or made from his dealings. For example, he previously owned Union Towers (the building housing Pizza Inn in Nairobi’s Moi Avenue).

He sold the 14-floor building at the heart of Nairobi’s central business district to Mount Kenya University in October 2014 at a cost of Sh. 800 million.

In 2016, he also sold about 700 acres of his vast land in the Bahati area of Nakuru county for about Sh. 11 billion. He had acquired the majority of the land empire when he was the Minister for Finance in the period between 1970s and the mid-1980s.

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His land empire was in thousands of acres. In Naro Moru he owned some 1,600 acres. He also owned some 1,200-acre on the Gingalili Farm along the Nakuru-Nyahururu road. His family is reportedly developing a gated community worth Sh. 8 billion under the Gingalili Farm (1968) Limited.

“Gingalili is part of Lucia & Company, Kibaki’s holding company that manages interests in hospitality comprising Nairobi’s Silver Springs. There is also Green Hills Hotel, which Kibaki opened in Nyeri in 1979, and Kentrout Grill and Campsite in Timau,” one report in the media said.

The late Kibaki was also said to own some 20,000 acres under the Lombara Ranch which is in the outskirts of Rumuruti. This land is estimated to be worth billions.

Across the road from his Mweiga retirement home, Kibaki owned the Rware Wheat Farm which is estimated to be of 600 acres in size.

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