Jeff Koinange nearly became homeless after his two mansions in the leafy Kitisuru neighborhood were put up on sale for defaulting on bank loan.
The veteran journalist bought two property in Kitisuru which are adjustment to each, they are currently valued at Ksh100 million each.
The two four-bedroom villas in the high-end residential area sit on 0.67 acres and are each attached with a servant’s quarter.
Jeff Koinange stays in one of the villas while the other one he initially used it to store his art pieces before he decided to rent it.
In April 2020, the Citizen TV anchor struggled to hold onto his multimillion shillings Kitisuru property after NCBA bank decided to auction it over a default loan.
NCBA bank was seeking to recover at least Ksh65 million from the sale of each of the two villas over a debt that fell into default in 2019.
The lender contracted Garam Investments to auction Jeff Koinange’s two villas, the auction was supposed to take place on April 28th 2020.
Garam asked those seeking to buy the two villas through the public auction to place a deposit of Ksh5 million ahead of bidding for the prime homes.
“The title is a free hold interest. The current annual rates payable amount to Sh.16,500. The annual rates payable together with accrued penalties amount to Sh.70,291 as at 27.01.2020,” the advert on the auction by Garam Investments read in part.
Jeff Koinange was however able to save his two villas from the auctioneer’s hammer. He struck a deal with NCBA to stop the auction shortly after the auction was advertised on local dailies.
Related: Photos Of Vera Sidika’s Ksh85 Million Mansion In Kitisuru Which Is Just Lying Idle
