Amos Wachira: How Businessman Based In Ireland Lost Property Worth Ksh55 Million In Kenya

0
2180
Amos Wachira: How Businessman Based In Ireland Lost Property Worth Ksh55 Million In Kenya
Photocredit/TheStandard

Amos Njugi Wachira-a Kenyan living in Ireland-invested in rental houses in his motherland only to see his investment worth millions go down in ruins.

According to Wachira, his rental units in Pangani were demolished under the watch of Kenyan police.

Here is his story as told by WoK.

Background

Wachira’s investment in the property originated from his success abroad. After completing his secondary education, he relocated to Europe in pursuit of better opportunities.

Flourishing in his endeavors, he persuaded his wife to join him, and together they built a life abroad.

Property Acquisition and Transformation

In 2007, When a friend offered him a property with rental units in Pangani, he seized the opportunity and secured a mortgage to purchase it.

He purchased the property from Ephantus Ngochi, intending to secure a solid investment for his future.

The property, located in Pangani, initially consisted of a single-story main house, four extension blocks, and two ablution blocks, comprising a total of 28 units.

Wachira recognized its potential and decided to renovate and transform the property into rental units, aiming to maximize its profitability.

Rental Income and Loan Collateral

After extensive renovations and improvements, the investor successfully converted the property into a source of steady rental income.

The 28 units were leased out, generating a minimum of Ksh192,000 per month.

This consistent cash flow provided financial stability and a solid return on Wachira’s investment.

Additionally, the property served as collateral for a loan obtained from the Housing Finance Corporation of Kenya, enabling Wachira to further expand his business ventures.

The Alleged Collusion and Demolition

Wachira alleges that the defendants, including Nairobi City County and the Chief Land Registrar, colluded to issue a certificate of lease to another party, Kachuodho Limited, despite knowing that he was the legitimate owner of the property.

He further claims that individuals hired by Kachuodho and Stephen Ocholla Sangira, who claimed ownership of the property, invaded and demolished it on the grounds of a disputed 99-year lease.

According to Wachira, Sangira, claiming to have a 99-year lease, forcibly entered the property located in Pangani on October 28, 2021.

Sangira, with the support of Kachuodho Holdings Ltd, approached the magistrate’s court, which facilitated the eviction of Wachira’s tenants and subsequently led to the demolition of the property.

Shockingly, police officers allegedly provided protection to Sangira’s goons during the demolition, raising concerns about the involvement of government authorities.

Claim for Compensation and Mental Anguish

Wachira now wants the government pay him Sh. 19 million as compensation for the loss of his property, in addition to its market value.

He argues that the demolition has not only resulted in significant financial loss but has also caused him immense mental anguish and distress.

Despite serving the defendants with a notice of intention to sue, they have failed to address his complaint, leaving him with no choice but to proceed with the legal case.

Legal Proceedings and Dismissal

Sangira and Kachuodho Holdings Ltd initially filed a case in the lower court against Wachira, but their failure to appear in court resulted in the dismissal of their case.

Even before the High Court, the defendants neither filed a reply nor appointed legal representation, further complicating the legal situation.

Wachira, on the other hand, has taken legal action against various entities, including Nairobi County, the Chief Lands Registrar, Inspector General of Police, and the Attorney General, seeking justice and fair compensation for the loss he has suffered.

Seeking Orders and Protection

In his legal battle, he not only seeks compensation but also aims to secure court orders preventing Sangira and his company from making any further claims on the property.

He argues that he is the rightful owner and asserts that the collusive actions of the Nairobi City County and the Register of Lands have undermined his property rights. By obtaining legal protection and barring any additional claims, Wachira aims to regain his financial stability and secure his property.

Regret and Doubt in the System

The devastating demolition of Wachira’s property, coupled with the lack of support from the government, has left him with deep regret about investing in his home country.

He questions the government’s commitment to protecting the investments of the diaspora and calls for justice to prevail.

Wachira appeals to Kenyans abroad to unite and advocate for the safeguarding of their hard-earned investments in Kenya.

Speak Your Mind