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Originally published by Nation News
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October 25, 2024
10mo ago

How shaky succession plans threaten ‘Rwathia empire’ billions in Nairobi

How shaky succession plans threaten ‘Rwathia empire’ billions in Nairobi

"While it is possible to identify the properties, compiling the list of beneficiaries is an impossible task."..

✨ Key Highlights

The succession plans of the multi-billion-shilling property investments made by the "Rwathia boys" in Nairobi are failing, risking the future of the estimated Sh500 billion empire.

  • The initial investments began as a collective effort in the 1920s by young men from Murang'a, pooling resources to buy properties.
  • Kanene Kabiru, a director of the investment group, highlights that complications in succession have led to family disputes and confusion in ownership.
  • The assets range from buildings to hotels, but many properties are struggling due to poor management and the challenge of unifying numerous beneficiaries, now numbering over 287 individuals.

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How shaky succession plans threaten ‘Rwathia empire’ billions in Nairobi