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Tuesday, October 8, 2024

Details of DP Gachagua Billionaire Brother’s Wealth & Will

In the labyrinthine world of Kenyan politics, where alliances shift like desert sands, an unexpected player has entered the fray: a seven-year-old will.

This document, penned by the late Nyeri Governor Nderitu Gachagua, has suddenly become a central figure in a high-stakes political drama involving his brother, Deputy President Rigathi Gachagua.

As Nairobi’s corridors of power buzz with talk of impeachment, the executors of Nderitu’s estate have thrust this will into the spotlight, challenging allegations at the heart of the motion against the Deputy President.

Njorge Regeru and Mwai Mathenge, the will’s guardians, have presented a narrative that could rewrite the script of this political thriller.

But let’s rewind. On a February day in 2017, in a London hospital room, Nderitu Gachagua put pen to paper, detailing the distribution of his vast empire. Little did he know that his final wishes would one day become ammunition in a battle for his brother’s political survival.

Fast forward to the present, and the National Assembly finds itself poring over property transfer documents and sale agreements. The executors claim that five properties, crucial to the impeachment case against Rigathi Gachagua, were in fact owned by the late governor.

It’s a twist worthy of a courtroom drama, with 291 MPs now facing an unexpected hurdle in their bid to oust the Deputy President.

Amidst this political tempest, two prime properties have taken center stage: Queensgate Serviced Apartments and Olive Gardens Hotel.

Queensgate, once part of Vipingo Beach Resort Ltd, found a new owner in the Cooperative Bank Staff Retirement Benefits Scheme 2007, to the tune of Sh590 million. Olive Gardens, a jewel in Nairobi’s Hurlingham crown, was snapped up by TM Civil Engineering for a cool Sh412 million.

These sales, according to the will, should have lined the Deputy President’s pockets with a tidy 5% cut. That’s a cool Sh50.1 million, give or take, before the taxman comes knocking. It’s a detail that adds yet another layer to the swirling debate about Gachagua’s finances.

The will itself reads like a who’s who of a prominent Kenyan family. Two wives (both named Margaret, in a twist of fate), children, siblings, and even a yoga instructor all feature in this distribution of wealth. It’s a document that speaks volumes about the interconnectedness of family, business, and politics in Kenya.

As for the late governor’s business interests, they span from quarries to construction firms. Many of these entities, interestingly, had family members holding shares in trust, including the now embattled Deputy President.

But perhaps the most intriguing asset is the Langata View Apartments. These 70 units, which recently dodged a demolition bullet thanks to some legal finesse, are set to be divvied up among the beneficiaries. It’s a prime piece of real estate that’s become a symbol of the family’s wealth and influence.

As Kenya watches this saga unfold, questions arise about the blurred lines between personal fortunes and political power. The executors’ submission to the National Assembly isn’t just a potential lifeline for Rigathi Gachagua; it’s a rare glimpse into the financial machinations of one of Kenya’s political families.

In the end, this tale of wills and political wills serves as a reminder of the complex tapestry that is Kenyan politics. As the impeachment motion hangs in the balance, one can’t help but wonder: what other surprises might be lurking in the shadows of Kenya’s political landscape?

Only time will tell if this posthumous intervention will be enough to alter the course of a nation’s political future.

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