Shareholders sell farm at Sh360m

By James Munyeki

A leadership row, which has rocked the multi-million Muhotetu farmers in Laikipia west, has been solved.

Officials of the company have now called for an annual general meeting to hold elections after years of wrangling.

This was reached after the over 700 shareholders finally agreed to sell their 2,439 acres of the controversial land at Kedong in Naivasha to a private developer.

The chairman of the company, which specialises in land buying and real estate, Mr Imunyu Mwaniki, said the members had agreed to sell the land at Sh360 million.

Already, 578 members have collected their share of the amount, which totals to Sh249,366,500.

"We have all agreed to sell the land and the row over leadership has been solved. The opposing camps have now decided to bury the hatchet and we will hold elections to put proper leadership in place," he said.

Imunyu noted that the officials had finalised the audit report to be tabled before the AGM where the shareholders will elect members who will represent them.

The company has been rocked by leadership wrangles for the last two years as two camps engaged in court battles over who should run it.

The two camps have accused one another of mismanagement of the company property with the recent case being two weeks ago, when the current leaders sought a court order to block the elections.

But Imunyu explained that they moved to court to block the elections to finalise the sale of the land.

He added that members had agreed that they sell the land and divide the proceeds among themselves, since it was too far from Laikipia.

He called on shareholders who had not collected their dues to do so at their Nyahururu offices to hasten the finalisation of the audit report.　

""We would like members to do this as soon as possible so that an AGM can be called where we will then decide on the way forward," he noted.