23 C
Kenya
Sunday, November 29, 2020

Gakuyo rebrands, makes comeback with another land project

Must Read

Making the most of a single room

Designing a Single Room: George Karani, an interior designer with Invision Concepts Ltd in Nairobi, offers tips on how...

How building a mansion can make you more money than building rentals

Building Rental Houses in Kenya: In 2016, Mr Paul Ogembo, a senior civil servant, decided use all his life...

Rental disputes: These are your rights as a tenant

Rental disputes: In May this year, a landlord in Ruaka, Kiambu County, flatly refused to reduce rent for his...

Scandalous real estate firm Gakuyo is back. The firm has rebranded and is now going by the name New Gakuyo Real Estate.

The firm, which is owned by controversial pastor Bishop David Ngari, is selling plots situated at the firm’s Kilimambogo project in Nakuru County.

Gakuyo is currently advertising its project through Kameme FM, the same radio stationed it used to ride to fame a few years ago. In the advert, the New Gakuyo Real Estate has been calling on listeners to make deposits for the project using its accounts at Family Bank.

How Gakuyo withdrew Sh. 1 billion investors’ money to fund lifestyle

This comes amidst claims that a large number of Kenyans who lost their money at Gakuyo’s Ekeza Sacco are yet to be compensated. Last year, an audit report showed how David Ngari moved investors’ money from Ekeza Sacco to a personal account that only he and his wife could access. He transferred the money in order to fund his lifestyle. He then used it to purchase numerous personal properties

Ngari reportedly transferred the money between 2015 and 2017. The audit report was prepared by a team appointed by Commissioner for Cooperatives Mary Mungai last December.

Investors risk losing Sh. 2.6 billion as Gakuyo’s Ekeza Sacco to be dissolved

The report showed that Ngari transferred Sh. 88 million in 2015, Sh. 850 million in 2016 and Sh. 625 million in 2017. Of the Sh. 1.5 billion, Sh. 507 million was loaned to some Ekeza Sacco members who wanted to own homes under Chosen Green City, a housing project in Kabati, Murang’a County. The project was being undertaken by the sacco’s sister company, Gakuyo Real Estate.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

190,412FansLike
11,005FollowersFollow
257FollowersFollow
304SubscribersSubscribe
WhatsApp
Telegram

Latest News

Kirubi’s Centum slips from Sh. 6.9bn profit to Sh. 2bn loss in six months

Centum Investments Financial Statements: Centum Investment Plc has slipped into loss-making territory. The firm whose single largest shareholder is ...

David Ndolo: I built apartment that has remained empty for four years now

Kitengela Apartments: A landlord from Kitengela is lamenting that four years after he built an apartment, he is yet to attract tenants. The landlord...

How that cheap plot could make you big money tomorrow

Plots Along Kangundo Road: "I wish I bought a plot in Umoja, Nairobi, in the 1996. They were selling at less than Sh. 300,000....

More Articles Like This