Billionaire businessman David Langat ‘s business empire has recently been thrust into unfamiliar territory as auctioneers have put up his multi-billion assets for a forced sale.
They aim to raise over Ksh2.1 billion owed to a local bank.
Langat, who is considered a close confidant of President William Ruto, has seen his once thriving empire face financial challenges, leading to public scrutiny and questions about his business acumen.
Legal and Financial Troubles
The auctioning of Langat’s assets is the latest in a series of legal and financial troubles he has encountered.
In January of this year, assets of Rift Valley Tea Solutions, a tea processing company based in Dodoma, Tanzania, owned by Langat, were auctioned off due to non-payment of employees’ monthly contributions to the country’s NSSF Pension fund.
Furthermore, Langat has faced other legal battles, including a lawsuit by a travel agency alleging non-payment of a $152,000 travel bill incurred by his family over a one-year period.
In 2020, he became embroiled in a dispute with Transnational Bank of Kenya after defaulting on a loan received in 2015.
WoK takes a closer look at the most valuable assets forming David Langat’s business portfolio.
DL Koisagat Tea Estate
Among the prized assets under threat of auction is the DL Koisagat tea estate.
Spanning approximately 1,342 acres in Nandi Hills within the Great Rift Valley, this estate has been an integral part of Langat’s business portfolio.
It includes an exclusive tea zone dedicated to commercial tea cultivation for export purposes.
The estate comprises 2.47 million tea bushes covering 958.75 acres, along with eucalyptus and cypress trees.
Additionally, the estate features schools, factories, administrative buildings, workshops, and residential areas.
Nyali Mall
David Langat is the owner of Nyali Mall, a prominent shopping complex located in Mombasa. Spanning over 330,000 square feet, Nyali Mall houses a wide array of shops, supermarkets, restaurants, and showrooms, making it a bustling hub of commercial activity.
Sunrise Resort Hotel & Spa Nyali
The Sunrise Resort Hotel & Spa Nyali, nestled in the lush green suburb of Nyali, offers luxury accommodation and leisure facilities.
This four-star hotel provides a tranquil escape and is conveniently located just a short drive from Moi International Airport.
Pearl Hotel Eldoret
Located on the outskirts of Eldoret town, the Pearl Hotel Eldoret is a four-star establishment catering to both business and leisure travelers.
The hotel offers comfortable accommodations, conference facilities, and various amenities.
DL Furniture
DL Furniture is a retail company specializing in household furniture and accessories. With showrooms in Mombasa and Nairobi, this business entity caters to customers seeking quality furnishings and stylish interior design solutions.
Firefox Kenya:
Under the Firefox brand, David Langat’s business ventures extend to fire safety. Firefox Kenya provides a range of fire detection systems, portable fire extinguishers, automatic sprinkler systems, fire hydrants, and other firefighting accessories to ensure safety in various settings.
Mufindi Tea & Coffee Limited
In 2018, David Langat acquired Mufindi Tea & Coffee Limited, a prominent tea and coffee producer in Tanzania. This acquisition expanded Langat’s presence in the East African region and further diversified his investment portfolio.
