Retired President Mwai Kibaki’s sweet Sh8 billion land deal

A section of former president Mwai Kibaki's Gingalili farm that is on sale on October 11,2016.The farm is situated at Maila saba in Bahati Constituency along Nakuru -Nyahururu road .PHOTO:KIPSANG JOSEPH

Retired President Mwai Kibaki is selling part of his 10,000-acre ranch in Nakuru worth billions of shillings. His family says the proceeds will be used to finance modern gatedhomes and pooled business properties in the area.

According to details released by an authorised agent, about 700 acres has been hived off for sale from the 10,000-acre parcel Land Reference No. 9366/2 at Maili Saba in Bahati Constituency, along the Nakuru-Nyahururu Road.

Reports indicated, depending on the demand, at least 5,000 acres is earmarked for sale. With an acre going for Sh11 million, if buyers come up well, the former President would be making Sh55 billion.

When The Standard visited the site office that is adjacent to the expansive Gingalili Farm (1968) Ltd, two of the authorised agents took us through the sale details. They dished out brochures that explain the land size, prices and the facilities available.


"We have sub-divided the 700 acres into 800 plots. An eighth of an acre goes for Sh1.5 million while an acre will be sold at Sh11 million," explained Mr Geoffrey Ndung'u.

Mr Ndung'u said the management of the farm was also planning to put up a shopping mall, police station, two hospitals, parking bay and a sports club.

Inside the temporary site office, a map for the entire property is pinned on the wall, as well as an authority to sell the land by J. M Theuri & Associates who are believed to be working for the former president's family.

"We act for the proprietor of the above property and our instructions are to address you as follows: The company has resolved to sell the aforementioned land and we hereby give you the authority to market, identify and scout for interested buyers of the said property," the letter signed by Ms Juliet Theuri reads in part.

Also pinned on the wall were details of a bank account for Gingalili (1968) Ltd where potential buyers were advised to deposit the funds.

When reached for comment, the Kibaki family said it was developing a gated-community housing project on the farm, through the Kibaki family business, Gingalili (1968) Ltd.


"The houses will be sold when they are completed. We shall announce the details at the ground-breaking ceremony," explained Mr Gituku Ngari, the former President's director of communications.

He added there will be more than 100 houses on sale.

Mr Ngari maintained the family was not in any financial stress but was making an investment decision.

The parcel of land on sale occupies one side of the road, opposite where the former president built his home along the Nakuru-Nyahururu highway.

Ndung'u confirmed the family would establish the shopping complex that would be managed by the Gingalili (1968) Ltd.

"The idea is to establish a gated community with more than 800 homes, a shopping complex, schools and other social amenities," Mr Ndung'u said, adding that they want to establish a second town after Nakuru.


The land on sale has been idle for many years and is one of the over 30,000 acres of land owned by the Kibaki family whose net worth is estimated at around Sh20 billion.

The development comes at a time when the Kenya National Highway Authority (KeNHA) has announced the expansion of the Nakuru-Nyahururu highway into a dual carriageway at a cost of Sh30 billion.

Resident and leaders in Bahati have welcomed the project, saying it would open up the area and establish a modern urban centre that is likely to rival Nakuru town.

"The sale is long overdue. That land was lying idle and with this development, they will open up Bahati constituency and ensure development is spread outside the 'traditional' Nakuru town", said Peter Wanjohi, a real estate developer from Bahati.

Area MP Kimani Ngunjiri said: "It is a smart move by the former president to sub-divide and sell the land but the pricing is not right. One thing I want to acknowledge is that sub-division of the land will open up Bahati in a big way."

By yesterday, buyers were streaming into the office with the agent confirming that they had already sold 200 plots.

Buyers were required to pay 20 per cent of the total price immediately and the balance within 90 days, upon which title deeds would be issued, said Mr George Kamande.

Mr Kibaki was the third president of Kenya who served under the administration of the then President Daniel Moi, as Vice President for one decade from 1978 to 1988.

He also served as Finance minister, and from 1982 to 1988, he served as the Home Affairs minister. And from 1988 to 1991, he was the Health minister.

He was elected President in 2002 when he defeated Mr Uhuru Kenyatta, who later succeed him upon retirement in 2013.