Jeff Koinange Saves His Sh200 Million Nairobi Villas from Being Auctioned

Kenyan media personality Jeff Koinange has saved his two four-bedroom villas in Nairobi from being auctioned over a mortgage debt amounting to Sh130 million.
The two houses standing on a 0.67-acre parcel of land in the high-end Kitisuru area, each attached with a servant’s quarter, were set to be auctioned on Tuesday, April 28th.
However, Mr. Koinange managed to stop the planned sale after striking a repayment agreement with NCBA Bank at the last minute, according to Business Daily.
NCBA Bank was seeking to recoup about Sh65 million from the sale of each of the two properties over a loan that fell into default last year.
An advert published in local newspapers by Garam Investments on Monday, April 6th, invited prospective buyers of the two houses to submit their bids ahead of the auctioning day.
“All that parcel land known as L. R. NO. 7741/263 (I. R. NO. 115833) off Kitisuru Road area Nairobi County registered in the name of Jeff Mwaura Koinange,” part of the ad read.
“The title is freehold interest. The current annual rates payable amount to Sh16,500. The annual rates payable together with accrued penalties amount to Sh70,291 as at 27.01.2020.”
Potential buyers had been asked to place a deposit of Sh5 million ahead of bidding for the houses estimated to be worth Sh200 million.
"The bidders will be required to produce a bidding deposit of Ksh5 million by way of cash or bankers cheque before being allowed to bid," the notice added.
Sources at Garam Investments told Business Daily that the auctioneering company had received interest from a number of investors before the auction was halted.
“NCBA reached a last-minute agreement with him (Koinange) and the auction was stopped,” the source who requested anonymity said.
“We got the notice to stop the public auction this morning, but we were already prepared for the sale.”
Koinange was living in one of the villas and rented out the other one, which he previously used to store art pieces.
Koinange, who currently works with Royal Media Services, is believed to be one of the richest journalists in the country.
Comments
Wonder how Jalas feels about…
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Wonder how Jalas feels about this
What matters is how Jeff…
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In reply to Wonder how Jalas feels about… by 10X (not verified)
What matters is how Jeff pulled himself out of mess! What ‘jalapeño” feels about this is totally immaterial!
It is all about Jeff and how he handles his business!! Let those who said all manner of things about this problem come back here and congratulate Jeff for working out a solution to the problem(s)! Otherwise, shut up!!
So what's the news in this?…
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In reply to Wonder how Jalas feels about… by 10X (not verified)
So what's the news in this? That was the most normal thing to a normal human.
Somebody will be getting…
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Somebody will be getting very coverage soon.
It was not Chinese who…
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In reply to Somebody will be getting… by Wisecounsel (not verified)
It was not Chinese who bailed him out.
Where are all the jealous…
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Where are all the jealous folks who had wished Jeff evil? Oh, he has put all of you to shame!!
Yes they called Jeff many…
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Yes they called Jeff many names upon finding out his mortgage troubles.
They called him “very arrogant” and wished him total failure and destruction!
I guess you understand why Jeff is arrogant now. Hehe , he dug himself out of a deep whole! And he continues to 😀 smile! Very smoking here - just pull out the pin and blast the fire extinguisher on the face of those who had wished you evil. Aaaaish, smoking!!
Oh my oh my he got one of…
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Oh my oh my he got one of his rich buddies to bail him out.Is journalism not paying in Kenya .Betty kyalo seems to be swimming in dough you would think Jeff being older and more experienced would have a better handle on his finances.Oh my oh my it appears only gospel artists in Kenya are swimming in cash the likes of Bahati and Ringtone hob nobbing in private jets.
Yes, gospel cash...flying…
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In reply to Oh my oh my he got one of… by Guest (not verified)
Yes, gospel cash...flying jets yeah right! All these are drug peddlers and dealers masquerading as making money from music sales, total B. Shi**t!
I used to ask myself why men…
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I used to ask myself why men leave me without clear reasons but I couldn't find an answer, I remember one day I sat down and counted all men I have met in my life and I felt so small because I know myself am not perfect but I give all I can to the man aiming to remain with him but at the end of the day I remained alone. Men could come and go and I couldn't see the money I was working for being paid a good salary but I can't prosper time came that I failed to put bread on the table. My friend Warna advised me to contact Mama Noah on +27678274051 for a special prayer of cleansing.
Mama Noah advised me that I must do a cleansing prayer to take away all the bad luck and genealogical curse which were following me I paid R400 and we did the prayer online since I was far from him. it took me three days to realize changes in my life I was promoted at work, my boyfriend also came back to me and proposed to me we have been together for two years now and things are fine we are preparing our wedding this December. I know that prayer works and I strongly believe the prayer of Mama Shelda +27678274051 helped me to regain my happiness thanks, Mama. Call\Whatsapp Mama Shelda +27678274051
Wow, we are now peddling…
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In reply to I used to ask myself why men… by kale (not verified)
Wow, we are now peddling prayers online?
Haiya tena...kumekwenda vipi…
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In reply to I used to ask myself why men… by kale (not verified)
Haiya tena...kumekwenda vipi hapa
Goodness! Cannot even keep…
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In reply to I used to ask myself why men… by kale (not verified)
Goodness! Cannot even keep the names of the prayer consultants straight, Mara Mama Noah, Mara Mama Shelda?
Another Nigerian con-men…
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In reply to I used to ask myself why men… by kale (not verified)
Another Nigerian con-men selling Juju and Voodoo.
Kale is skimming to con a…
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In reply to I used to ask myself why men… by kale (not verified)
Kale is skimming to con a lot of people - both men and women! Folks, be on the look out and watch your wallet!! This one ☝️ has taken very good con lessons from our brothers and sisters from 🇳🇪 Nigeria!!
Congratulations Jeff for…
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Congratulations Jeff for saving your properties. Anybody can get into trouble for any number of reasons.Wish you the best in your future endeavours.
Mind your own business too…
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Mind your own business too many nosey idle Kenyans
The guy is taking in 1.8.m …
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The guy is taking in 1.8.m a month (from the grapevine )how did he end up in debt I wish I can be paid just 10% of that should consult his financial adviser where he is going wrong
jeff am proud of you,having…
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jeff am proud of you,having pulled yourself from that mess,congratulations and pls help me friends,anybody including jeff to pay tala loan kes23,567.00 branch kes 16,500.00 zenka kes19000.00, kenya power kes23,667.00 mshwari kes5,174.00 fuliza kes 1,500 total kes 89,408.00 we can settle this as a one loan then we agree with whoever wiiling so that i be remitting 10,000 every month,all of these people are giving me nightmares as we speak.I earn only 21,000.00 and dashing to pay each group has overwhelmed me and i have a family to feed.
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