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This man Cyrus Jirongo and his debts

By Daniel Ogetta | Published Wed, September 19th 2018 at 15:34, Updated September 19th 2018 at 15:37 GMT +3
Former Lugari MP Cyrus Jirongo.

Cyrus Jirongo, a former Lugari Member of Parliament (MP) who is said to have become a billionaire by the age of 30 is now bankrupt.

Under the umbrella of Youth for KANU 1992 (YK '92), the former MP is on record as having dished out cash during KANU campaigns.

ALSO READ: Ex-Lugari MP Cyrus Jirongo arrested over Sh20m debt

Back then, the largest denomination in the country was Sh200 note and the new Sh500 was nicknamed 'Jirongo.'

"I was a billionaire by the age of 30. YK never made me, it destroyed me financially," Jirongo admitted in an interview.

Besides having development projects such as Saika Estate, Hazina Estate in South B and Kemri Estate on Mbagathi Road, the 'wealthy' Jirongo was associated with companies such as Sololo outlets and Cyper.

Between 1978 and 1981 he was schooling at Mang'u High School. He later proceeded to Egerton University for his undergraduate studies. In 1992, Jirongo and Deputy President William Ruto led the Youth for KANU 1992 movement.

Jirongo clinched Lugari MP seat during the 1997 elections. Two years later, he fell out with KANU. That notwithstanding, ahead of the 2002 election, he was appointed the Rural Development Minister.

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Reports indicate that Jirongo first expressed his presidential interest in 1998. He, however did not appear on the ballot

In 2017 general elections, Shakhalaga Khwa Jirongo vied for presidency under United Democratic Party where he garnered an approximately 0.07 per cent of the total votes in the elections.

Seemingly swept by a typhoon of bankruptcy in the recent, Jirongo is a broke billionaire unable to pay his creditors, be they friends or financial institutions

ALSO READ: Kenya set to borrow additional Sh600b

In October 2017, high court had declared Mr Jirongo bankrupt as he had failed to pay a loan of Sh700 million he had reportedly borrowed from his long-time friend Sammy Boit Kogo.

Also, in February 2018, the Central Bank sold Mr Jirongo's 103-acre farm in Uasin Gishu for Sh53 million in efforts to recover the loams he owed to Dubai Bank.

As well, On August 7 2018, Milimani Commercial court ordered the Muthangari Officer Commanding Station (OCS) to arrest the former presidential aspirant. In the order, the court obligated Mr Jirongo to pay the expenses that would incurred during his search.

The order read:

"These are to command you to arrest the said Jirongo and unless the sum of Sh20 million as noted in the margin, together with the executing officers expenses fees. If any, to bring the said debtor before the court with all convenient speed."

The complaint, Mr Yongo told the court in March 2017, that between 2014 and 2015, he gave Mr Jirongo a loan of 25 million which was to be paid in three instalments. According to the court order, he did not honour this; he had only paid Sh5 million.

On the latest development, Mr Jirongo spent Tuesday night at a cell in Muthangari Police Station following his Sh20 million debt. And, is fighting for his freedom at the court.

ALSO READ: China: No debts, we are helping Africa develop

 


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