MPs want Kenya Re probed over sale of property

By RAWLINGS OTIENO

KENYA:  Kenya Re is under siege following an advert they placed in the dailies inviting bidders to purchase the properties of the defunct United Insurance Company.

Members of Parliament now want the government-owned parastatal probed by the Parliamentary Investment Committee (PIC) on why the invitation for bidders has been hurriedly done without giving enough time for the valuers to establish the true cost of the properties.

Led by Mukurueini MP Kabando Wa Kabando, the leaders said it was suspicious for Kenya Re to only give five days for the bidders to inspect the properties before the deadline for closing tenders on Thursday.

They now want Kenya Re to address the concerns that the adverts so far placed are nowhere near the level required to create sufficient attention.

“Placing an advert on August 29, and then giving a deadline of September 6, is unlikely to allow prospective bidders to travel from to corners of the country,” said Kabando.

The fallen insurer has a huge list of 170 prime properties worth billions of shillings spread across all parts of the country.

Flanked by Githunguri MP Njoroge Baiya, the Kabando said the push to rush the deadline is intended to frustrate prospective bidders.