High Court okays auction of Moses Kuria’s properties
High Court okays auction of Moses Kuria's properties
The High Court has declined to halt the auction of properties belonging to President William Ruto’s Senior Economic Advisor Moses Kuria.
In his ruling, Justice Aleem Visram stated that Kuria had failed to honor his financial obligations on a loan he took several years ago. The auction is scheduled for April 8, 2025.
The properties set to be auctioned include apartment blocks located in Ruaka and Juja, Kiambu County.
They were listed for sale by an auctioneer -Garam Investment Ltd due to settle an outstanding debt.
The auction scheduled for April 8th has drawn fresh attention to Kuria’s alleged links to UAE-registered InvestAfrica-FZCO a company that has been making calculated acquisitions in Kenya’s corporate sector.
An advertisement by Garam Investments Limited revealed that the former Cabinet Secretary and InvestAfrica-FZCO share a postal address.
The firm incorporated in the United Arab Emirates is also listed as the beneficial owner of Smith & Gold Productions a company that secured a Ksh 259 million contract for the construction of Karatu Stadium in Kiambu.
Until 2023, Kuria was named as Smith & Gold’s beneficial owner before the firm’s control shifted to InvestAfrica-FZCO.
Despite maintaining that he has no association with InvestAfrica-FZCO, the company has made several high-profile transactions in Kenya.
In 2023 it acquired a 35% stake in battery manufacturer Eveready East Africa. Last year it took over Kenya Orchards Limited (KOL) a food processing company in a deal estimated at Ksh 210 million.
Following the acquisition, KOL rebranded to Amac Agri Corp PLC and its shares have since surged at the Nairobi Securities Exchange.
InvestAfrica-FZCO also entered Kenya’s trade sector through a subsidiary Shehena Commodity Limited which secured a Ksh 1.3 billion contract to supply edible oils under the Kenya National Trading Corporation’s importation programme.
With auctioneers preparing to hammer down Kuria’s properties, prospective buyers are required to pay a refundable Ksh 3 million deposit before bidding.
Kenya Prisons Service announces mass recruitment of cadets; How to apply
Pole sana Gachagua; Kuria says after goons church attack
Kibaki left us Thika Superhighway, but Ruto is busy launching bedsitters; Cleophas Malalah
Shock as police officer kills three children before committing suicide
Gachagua accuses Ruto of sending goons to church to attack him
The successful bidder will pay 25% of the amount immediately with the balance due in 90 days. Kuria previously disclosed that his net worth stood at approximately Ksh 750 million during his vetting for the Trade Cabinet Secretary position in 2022.
At the time, he stated that his wealth was drawn from real estate developments shares in unlisted companies and business interests in manufacturing fintech and other sectors.
His career trajectory saw him work in the banking sector including a stint at Al-Rajhi Bank in Saudi Arabia before venturing into consultancy and later joining government service.
He previously served as a technical advisor to former Presidents Mwai Kibaki and Uhuru Kenyatta before transitioning into politics where he was elected as Gatundu South MP in 2014.
Kuria lost his bid for Kiambu governor in 2022 before being appointed as a Cabinet Secretary by President Ruto and later moved to his current role as a senior advisor in the Council of Economic Advisors.
Five chiefs who were abducted by suspected Al-Shabaab released
TikTok is being used to promote military coups in Africa – Government Spokesperson
Miguna Miguna slams Gachagua over 2027 plot to ouster Ruto at the ballot
Shock as family digs 15-year old father’s grave
Mudavadi responds to alleged affiliation with new political party
Ruto plans to postpone 2027 elections; Gachagua claims
Follow us
