The High Court has cleared the way for the auction of two apartment blocks in Juja and Ruaka linked to Senior Presidential Economic Advisor Moses Kuria, after ruling that he failed to settle a loan taken several years ago.
Justice Aleem Visram declined to grant orders stopping the auction, paving the way for Garam Investments Ltd to proceed with the sale scheduled for April 8.
The auctioneer has listed the properties under the name Briden Apartments and requires interested buyers to deposit Ksh 3 million before participating.
The Juja property is a five-storey block located approximately 250 metres from Thika Road, with eight one-bedroom units on each of the first four floors and two units on the fifth floor.
It sits on two adjoining plots held under freehold interest and reportedly brings in monthly rental income of Ksh 541,000.
The Ruaka building, also a five-storey structure on freehold land, is located 160 metres off Limuru Road and about 650 metres from the Alma by Cytonn.
It comprises a mix of bedsitters, one-bedroom and two-bedroom units spread across its floors, with parking for 15 vehicles on the ground level.
Kuria has not disclosed the creditor or the value of the debt tied to the auction, but the development comes in the midst of fresh scrutiny over his alleged ties to InvestAfrica-FZCO, a UAE-registered firm that shares his postal address and has taken over companies previously linked to him.
While Kuria has denied owning the company, records show that InvestAfrica-FZCO owns Emerging Capital Holdings, which in turn holds majority shares in Smith & Gold Productions — a firm that landed a Ksh 259 million stadium tender in Kiambu before transferring ownership from Kuria to the UAE entity.
InvestAfrica-FZCO has also been active in the Nairobi Securities Exchange, having acquired Kenya Orchards Ltd in a transaction estimated at over Ksh 210 million and previously bought a 35% stake in Eveready EA.
The upcoming sale of the two properties adds a new dimension to Kuria’s public and financial profile as questions linger over his commercial entanglements and shareholding transitions linked to entities operating in both public procurement and private capital markets.
