How a Woman’s Fight Against CRB Led to Her Property Auction

The High Court in Malindi has rejected Asha Kamene Salim’s application to stop the auction of coastal land she valued at nearly Sh100 million.

The ruling allows Eco Bank Ltd to proceed with the sale of the properties, which were used as collateral for a Sh55 million loan that has since defaulted. At the centre of the dispute is a loan secured by Petro Soko Ltd, which, according to court records, held ownership of Salim’s coastal plots as security. In early 2023, Salim, who was blacklisted by the Credit Reference Bureau, entered into an agreement with Petro Soko.

The deal involved transferring ownership of her valuable land to the company so it could secure a loan on her behalf, for which she paid a Sh9 million commission. This arrangement has now backfired, with potentially severe financial consequences for Salim. When Petro Soko failed to repay the loan, Eco Bank began foreclosure proceedings, leading to plans for the properties’ auction by Watts Auctions.

Salim challenged the process, claiming she was a victim of fraud and economic pressure, and argued that the property transfers were temporary measures to facilitate credit access, not genuine sales. She also claimed to live on one of the plots and said she had invested significantly in both.

Eco Bank, however, maintained that Salim has no legal claim, since the properties are registered in Petro Soko’s name. John Mwonga, the bank’s Head of Remedial Department, dismissed her petition as a delay tactic intended to block the bank’s legitimate right to recover its loan. Petro Soko’s director, Ali Shebe, supported this view, rejecting Salim’s allegations and stressing that the company’s private arrangements should not prevent the bank from enforcing the loan.

He also questioned Salim’s land valuation, suggesting it was exaggerated.
Justice Mugure Thande ruled in favour of the bank, stating that Salim failed to demonstrate a legal right requiring protection. The court recognised Petro Soko as the registered owner with authority to use the land as loan collateral.