Guys out there are FILTHY rich......Mbiyu Koinange case closed

So while perusing my browser for news and updatesi come across a story i have been following for sometime now…its a 40 year old property row ya beneficiaries wa mbiyu koinange…And news is that case has been concluded.

Justice Aggrey Muchelule Thursday ruled that the properties of the minister who served in founding president Mzee Jomo Kenyatta’s Cabinet would be distributed among his 12 beneficiaries, including two widows who are still alive and 10 children.
At the centre of the latest court battle was the question of whether the assets should be distributed equally among the four widows or the allocation should be based on a list of Koinange’s spouses as well as his recognised children.
Koinange’s third and fourth widows, Margaret Njeri Mbiyu and Eddah Wanjiru Mbiyu, wanted the property split equally among the four widows in line with Kikuyu customary laws.
However, those associated with the first and second widows, who are both deceased, wanted the assets shared among 20 dependents, including Koinange’s remaining children and grandchildren as well as his two daughters-in-law.

In his judgement, Justice Muchelule said all the children have equal worth irrespective of their sex or marital status.
The public is also set to benefit as the court directed that the family reserves space for utilities like roads, police stations and schools on some of the huge tracts of land owned by the family.
Mr Koinange, who also served briefly in former president Daniel arap Moi’s administration, died on September 3, 1981 without a will, sparking a vicious battle for the control of his estate.
“One wishes that all Kenyans can get into a habit of planning their lives, especially thinking about what will happen to their families upon their death,” Justice Muchelule observed.
The High Court ruling is in line with a Supreme Court ruling which found that Koinange had four widows - not two - and which stated that all his dependents should inherit the multi-billion shilling estate.
Top on the list of Koinange’s property are the[SIZE=6] [/SIZE][SIZE=7]240 acres of land adjacent to Two Rivers Mall in Nairobi[/SIZE] valued at Sh2.88 billion per acre and housed under a firm called Closeburn, which initially had 600 acres. About 260 acres of the property were later sold to an international investment group and another 100 acres to Centum Investment, which used it to construct the Two Rivers Mall.

Other assets include one of the biggest undeveloped plots in the Nairobi central business district, a [SIZE=7]Sh2 billion holding next to Re-insurance Plaza[/SIZE].
It is currently used as a private parking lot and generates Sh108 million annually in fees.
There are also shares in many firms, including Magadi Soda, BAT , Centum ,Ocean View Beach Hotel and Limuru Dairy and buildings in Kiambu, Nakuru and Mombasa.

Other multi-billion shilling properties include over[SIZE=7] 1,000 acres in Kiambu worth Sh7.8 billion,[/SIZE] several parcels in Nakuru worth about Sh1 billion and plots valued at Sh4.4 billion in Nairobi. The value of his shares was not quoted in court documents.
The court said that a plot on Lunga Lunga Road and [SIZE=7]800 acres of Muthera Farm[/SIZE] in Nakuru would be sold and the proceeds banked in a joint account operated by the four administrators of the estate.
And after allocating 150 acres for roads, schools and a police station, the rest will be shared out equally among the 12 beneficiaries.

Justice Muchelule also said that [SIZE=7]10 acres at Ehothia Farm, 95 acres at Waehothia Farm,[/SIZE] all in Kiambu County, will be sold and the proceeds banked in the said account.
He noted that some beneficiaries had settled and made extensive developments on some parcels they settled in and it would be unfair to move them. He gave them such bigger portions and shared the remaining with all the beneficiaries.
Under Closeburn, Koinange’s daughter, Lenah Wanjiku, who had developed a hotel on the land was offered 30 acres with brother David Koinange getting a similar portion.
Supreme Court Judges David Maraga, Philomena Mwilu, Mohamed Ibrahim, Smokin Wanjala and Isaac Lenaola had ruled that the Court of Appeal correctly applied the law in declaring the two widows as beneficiaries of the estate.
The High Court had sidelined the two from inheriting the multi-billion shilling empire.
George Kihara, Koinange’s son from the first family, had petitioned the Supreme Court to hear an application where he challenged the inclusion of Ms Njeri and Ms Wanjiru.

Worry not about them. Some of the younger Koinanges are waste men already. But at least the stolen land is still intact unlike Njenga Karume’s estate.
He was a v smart man though. I was told some things by an uber driver, I could only shake my head.

leta uhondo we shake ours too

Ujinga hii. Instead of consolidating wakulange dividends and building truly long lasting generational wealth, they have decided to subdivide kila mtu aende zake.
Most of Koinange’s kids are in their 70s and 60s so ukiongeza his grandkids what will trickle down to the 4rd and 4th generations is not substantial.
20 year from now, very little will be left.

watafanya hivyo at an individual level…hii kesi ilianza 1980s kama hawakuweza kuconsolidate since then…ata sai hawawezi…

am told lawyers wameambiwa walipwe fees na individual complainants koti haitawaamuliwa amounts…This is a huge blow for all the legal firms who have been kuliaing tjis case polepole consistently

wapewe mali wakule kabla wakufe. io family iko na shida mingi

Habari ya kwako umepotea sana kwa kijiji? si I will be bringing mushene digi style? bila evidence yawaaaaaaa…? one thing I did juzi was to warn some of my friends here about buying apartments hapo two rivers…centum owned…

I repeat again…that man Mbiyu Koinange was super smart…

These were the first thieves of post-independent Kenya

Hii mali irudishiwe wananchi

Hizo hesabu ni fake. A journalist being adventurous.

How can a plot in Runda have 1 acre going for 2.88 billion??? That is absurd.

And in the same Kiambu,1000 acres for only 7 billion???

Halafu parking lot ilete shs. 108 million per year ???

Hio ni ku-exaggerate.

I have only seen one filthy rich kenyatta era family manage properties together…the mbagi’s…owners of Agip house…those ones have actually made more billions since their old man died…wengine ni vita tu

The apartments are on Centum land iko clean na haina dispute with the Koinange’s. A friend was involved in the transaction and your warning was bila merit if it was in reference to the land. Wacha upus

niko poa…niko tu…just laying low kidogo…

Too many sick people as our leaders, results of we Kenyans having a sick mindset

Iyo kiwanja ya 2 rivers iliuzwa ndio mawakili, bills,utilities zilipwe. Iyo land iko safi

Have I not told you I am immune to your small time matusi to make yourself feel grand? sinanga hiyo time. They were free to go to a law firm and do a research. Nigga you need to grow up as far as I am concerned. Na they did not buy…sasa go hang yourself. After they researched.

They researched and did not buy.

How was he smart. And what’s wrong with the apartments? No title deed? Tell us what you know. From what I see, truth is that it’s good this case has been dragging in the courts. Had he have subdivided this land when it had little value in the late 70s early 80s, very little would be left. As an example, I know one dude who was a crook, but not to Mbiyus level. But he acquired a lot of land. The wives have sold off 90% over the last 35 years. Prime real estate. Mpaka they’ve become laughing stock. Especially withe decentralization, land in this small town CBDs has skyrocketted value.

Centrum Group ya Kirubi bought that land and build 2 rivers. Maamuzi ya koti iyo