Kenyan media personality Jeff Koinange has saved his two four-bedroom villas in Nairobi from being auctioned over a mortgage debt amounting to Sh130 million.
The two houses standing on a 0.67-acre parcel of land in the high-end Kitisuru area, each attached with a servant’s quarter, were set to be auctioned on Tuesday, April 28th.
However, Mr. Koinange managed to stop the planned sale after striking a repayment agreement with NCBA Bank at the last minute, according to Business Daily.
NCBA Bank was seeking to recoup about Sh65 million from the sale of each of the two properties over a loan that fell into default last year.
An advert published in local newspapers by Garam Investments on Monday, April 6th, invited prospective buyers of the two houses to submit their bids ahead of the auctioning day.
“All that parcel land known as L. R. NO. 7741/263 (I. R. NO. 115833) off Kitisuru Road area Nairobi County registered in the name of Jeff Mwaura Koinange,” part of the ad read.
“The title is freehold interest. The current annual rates payable amount to Sh16,500. The annual rates payable together with accrued penalties amount to Sh70,291 as at 27.01.2020.”
Potential buyers had been asked to place a deposit of Sh5 million ahead of bidding for the houses estimated to be worth Sh200 million.
“The bidders will be required to produce a bidding deposit of Ksh5 million by way of cash or bankers cheque before being allowed to bid,” the notice added.
Sources at Garam Investments told Business Daily that the auctioneering company had received interest from a number of investors before the auction was halted.
“NCBA reached a last-minute agreement with him (Koinange) and the auction was stopped,” the source who requested anonymity said.
“We got the notice to stop the public auction this morning, but we were already prepared for the sale.”
Koinange was living in one of the villas and rented out the other one, which he previously used to store art pieces.
Koinange, who currently works with Royal Media Services, is believed to be one of the richest journalists in the country.
Wonder how Jalas feels about…
Wonder how Jalas feels about this
What matters is how Jeff…
What matters is how Jeff pulled himself out of mess! What ‘jalapeño” feels about this is totally immaterial!
It is all about Jeff and how he handles his business!! Let those who said all manner of things about this problem come back here and congratulate Jeff for working out a solution to the problem(s)! Otherwise, shut up!!
So what’s the news in this?…
So what’s the news in this? That was the most normal thing to a normal human.
Somebody will be getting…
Somebody will be getting very coverage soon.
It was not Chinese who…
It was not Chinese who bailed him out.
Where are all the jealous…
Where are all the jealous folks who had wished Jeff evil? Oh, he has put all of you to shame!!
Yes they called Jeff many…
Yes they called Jeff many names upon finding out his mortgage troubles.
They called him “very arrogant” and wished him total failure and destruction!
I guess you understand why Jeff is arrogant now. Hehe , he dug himself out of a deep whole! And he continues to ? smile! Very smoking here – just pull out the pin and blast the fire extinguisher on the face of those who had wished you evil. Aaaaish, smoking!!
Oh my oh my he got one of…
Oh my oh my he got one of his rich buddies to bail him out.Is journalism not paying in Kenya .Betty kyalo seems to be swimming in dough you would think Jeff being older and more experienced would have a better handle on his finances.Oh my oh my it appears only gospel artists in Kenya are swimming in cash the likes of Bahati and Ringtone hob nobbing in private jets.
Yes, gospel cash…flying…
Yes, gospel cash…flying jets yeah right! All these are drug peddlers and dealers masquerading as making money from music sales, total B. Shi**t!
I used to ask myself why men…
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Wow, we are now peddling…
Wow, we are now peddling prayers online?
Haiya tena…kumekwenda vipi…
Haiya tena…kumekwenda vipi hapa
Goodness! Cannot even keep…
Goodness! Cannot even keep the names of the prayer consultants straight, Mara Mama Noah, Mara Mama Shelda?
Another Nigerian con-men…
Another Nigerian con-men selling Juju and Voodoo.
Kale is skimming to con a…
Kale is skimming to con a lot of people – both men and women! Folks, be on the look out and watch your wallet!! This one ☝️ has taken very good con lessons from our brothers and sisters from ?? Nigeria!!
Congratulations Jeff for…
Congratulations Jeff for saving your properties. Anybody can get into trouble for any number of reasons.Wish you the best in your future endeavours.
Mind your own business too…
Mind your own business too many nosey idle Kenyans
The guy is taking in 1.8.m …
The guy is taking in 1.8.m a month (from the grapevine )how did he end up in debt I wish I can be paid just 10% of that should consult his financial adviser where he is going wrong
jeff am proud of you,having…
jeff am proud of you,having pulled yourself from that mess,congratulations and pls help me friends,anybody including jeff to pay tala loan kes23,567.00 branch kes 16,500.00 zenka kes19000.00, kenya power kes23,667.00 mshwari kes5,174.00 fuliza kes 1,500 total kes 89,408.00 we can settle this as a one loan then we agree with whoever wiiling so that i be remitting 10,000 every month,all of these people are giving me nightmares as we speak.I earn only 21,000.00 and dashing to pay each group has overwhelmed me and i have a family to feed.