This archive report was first published on 9 July 2020.
On July 9, 2020, Ideal Auctioneers descended upon IMAX Theatre at 20th Century Plaza in Nairobi's Mama Ngina Avenue, seizing equipment worth millions in rent arrears.
The move comes as a result of the COVID-19 pandemic, which has severely impacted entertainment businesses, including restaurants and social gatherings.
According to data from the Kenya National Bureau of Statistics (KNBS), only 8.5% of property owners had offered rent reliefs in April, leaving many tenants struggling to pay their rents.
President Uhuru Kenyatta had urged property owners to be considerate and reduce rents or defer payment to help tenants cope with the economic environment brought by the pandemic.
However, the survey showed that a third of tenants in Kenya said they were not able to pay their rents in April, with 21.5% of defaulters reporting that they had always been able to pay their rent.
The figures highlight the devastating effect of the pandemic on families and their incomes.
Kenya has begun a phased reopening of businesses/economy to help families that have lost their livelihoods due to prolonged closure.
Forex exchange earning industries, worst hit by the pandemic, are expected to begin picking up and save the government from straining to combat the virus.
