Njenga Karume family settle bitter row on Ksh.17 billion property

The family of the late former Cabinet Minister Njenga Karume have reached common ground on the way forward of managing his multi-billion estate.

Speaking at a joint press conference in Nairobi, the estate trustees and the children’s representatives said they had agreed to sell some of the estate’s properties to offset a Ksh2.5 billion debt.

“Doing the evaluation at the moment, we have arrived at a figure of about Ksh.17.8 billion for the estate. When we look at all our debt portfolio we’re thinking about Ksh2.5 billion which is 15 per cent of the value of estate and that includes what we owe KRA, banks, creditors and contractors,” said one of the estate representatives.

“We will have an estate that is debt less, probably not cash rich but with ability to generate cash from the operations it has from the hospitality industry.’

Breakthrough, according to one of Karume’s children, came after the family and the trustees decided to freeze the court process and engage in mediation.

The three-year court battle which has played out in public has been over who and how the state should be managed.

“After a series of 10 meetings, we have found that there are somethings we have common ground and we found it important to put our individual interests aside and work together for the common good of achieving the vision,” said Jane Matu, the fifth born in the Karume family.

According to reverend Geoffrey Njenga, the chief mediator, the process started about three months ago.

“I wish to commend them highly as mediation is the best way to resolve these kind of conflicts,” said Rev. Njenga. “Family matters cant be resolved in court.”