Lady Justice Dorah Jepkwony of the High Court in Kiambu has delivered a landmark ruling in the protracted dispute at Mboi-Kamiti Farmers Company Limited, ordering the company to convene an Annual General Meeting (AGM) within the next 90 days under the neutral supervision of the Registrar of Companies.
The judgement, handed down Tuesday in Civil Case E030 of 2022 (Muchina & 2 others v Mathenge & 4 others), is a significant win for dissenting shareholders seeking transparent leadership, democratic elections, and resolution of longstanding issues around governance, land allocations, and director legitimacy.
Peter Gakunga, a prominent shareholder and chairman of the complainants’ group, hailed the decision as a long-awaited breakthrough.
“This is the pivotal step we’ve been fighting for,” Gakunga said. “The AGM has always been our ultimate demand; it will enable fresh elections and the removal of what we regard as illegal directors.”
He appealed to all members, whether they have received plot allocations or are still awaiting their shares, to rally together. “Now is the time for unity among all shareholders allocated or not. By joining hands, we can ensure every member secures their rightful share and put an end to decades of division and uncertainty,” he urged.
Mboi-Kamiti Farmers Company Limited, a historic land-buying entity with thousands of members in Kiambu County, has faced ongoing conflicts involving frozen operations from prior status quo orders, leadership tussles, asset disputes, and delayed meetings.
The court’s requirement for oversight by the Registrar of Companies aims to uphold fairness, prevent irregularities, and ensure full compliance with the Companies Act and the company’s articles of association. The forthcoming AGM is poised to facilitate elections and advance toward settling unresolved claims.
Shareholders are advised to monitor official notices from the Registrar of Companies and track developments through the Kiambu High Court registry.
By Felix Kipkorir
