A poultry farm in Nyeri valued at Sh. 58 million and owned by politician Thuo Mathenge is set to be auctioned.
The farm will be auctioned on April 26 by Valley Auctioneers in a bid to recover a Sh. 30 million Jamii Bora debt.
The poultry farm, trading as Brade Gate Poultry Industry, where Mr Thuo Mathenge is its chairman, has capacity to slaughter about 1,400 chicken per hour and more than 30,000 daily.
The auctioneer’s advertisement said assets belonging to the politician’s five-year old company, standing on a 1.9 hectare parcel of land, a residential house, staff quarters, a one storeyed office block and the poultry will be sold.
The owner, Thuo Mathenge, has previously protested the sale of the property saying it is under-valued, but his protests have been in vain.
The politician had told a court that his farm was valued at Sh. 70 million. However, the court dismissed his claims, saying that he had refused to owner installment arrears and had been properly served to facilitate the auction.
The poultry farm was the first private hatchery to be established in Nyeri County which rears day old chicks that are subsequently sold to farmers.
How would a firm valued at 3 billion really fall from glory to a major asset being auctioned by Valley Auctioneers in a bid to recover a Sh. 30 million Jamii Bora debt? I cant get my head around this. The following link featuring Dr. Mathenge himself tells it in part, was it all based on loans and not the much thought hype and worthy republic as presented?. https://www.youtube.com/watch?time_continue=90&v=RllACJ74ACM