By Isaac Blessings
Jeff Koinange is a veteran journalist who has been in this vocation for more than 25 years. The 56 year old has previously worked with big international media houses like CGTN Africa and CNN. He is news anchor at Citizen TV and Breakfast Radio show host at Hot 96 FM, both owned by Royal Media Services. Despite his fame and vast wealth acquired over the years, little is known about his private life. However, just recently two of his properties were brought to the public eyes after they were nearly auctioned. Here is a sneak peek into the Ksh 200 million houses owned by Jeff Koinange.
The Two Villas
These twin villas which are estimated to be worth Ksh 200 million are located in the leafy suburbs of Kitusuru, Nairobi. The four-bedroom houses which are just next to each other sit in a 0.067 acre piece of land and are each attached with a servants’ quarter. Other amenities include parking space, swimming pool and CCTV surveillance. The land that the two houses sit on is known as L.R. NO. 7741/263 (I. R. NO. 115833) off Kitisuru Road area Nairobi county and is registered under Jeff Mworia Koinange. At the time of the auction announcement, Koinange was living in one of the Villas and rented the other to a client.
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The Auction Saga
The Auction which was announced in the local newspapers by Garam investments in April 2020, sought buyers who would buy the two villas for 65 million each. This is after Koinange defaulted to pay a Ksh 130 million debt to NCBA Bank – a bank associated with President Uhuru Kenyatta. The advertisement indicated that bidders would be required to produce a bidding deposit of Ksh 5 million either in cash or bankers cheque before being allowed to bid for any of the houses.
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This news left many Kenyans wondering if the seasoned and highly-paid journalist had become bankrupt even after receiving a hefty salary every month from the Royal Media Services. Fortunately, a few days before the auction date of April 28th 2020, Koinange struck a deal of repayment procedure with NCBA Bank and the auction process was canceled.