Shareholders of a troubled land-buying company in Gatanga, Murang’a County, are set to receive title deeds before the end of this year following the conclusion of court cases that had delayed the subdivision of a 1,277-acre parcel in Naivasha.
The Chairman of Nanga Kihoto Company Ltd., Francis Muheria, said surveying and subdivision of the Sh2.5 billion piece of land are in their final stages ahead of allocation to 1,768 members.
He assured shareholders that the property remains intact, despite recent attempts by suspected grabbers to invade sections of the land.
Muheria commended the National government administrators and security agencies from the area for intervening and removing trespassers who had encroached on the property.
He also cautioned members of the public against fraudsters allegedly selling fake share certificates linked to the land.
“We have resolved all the legal challenges that had stalled the process for years, and we are now finalising surveying and subdivision so that members can get their title deeds before December,” said Muheria.
He was addressing shareholders during the Company’s annual general meeting in Gatanga, Murang’a County. The chairman urged shareholders to clear survey fees and other pending dues to facilitate faster processing and issuance of the title deeds.
Murang’a County Assembly Deputy Speaker and Kihumbu-ini Member of the County Assembly (MCA), Gachui Mungai, called on the management to expedite the exercise, noting that many shareholders are elderly and have waited for decades to benefit from the investment.
“Some of these members bought the land more than 40 years ago and have patiently waited to settle there. The process should now be completed without further delays,” said Mungai.
Shareholders led by Anne Munene, expressed optimism that they would finally take possession of the land after years of uncertainty caused by leadership wrangles and prolonged court battles that stalled subdivision since the company acquired the property in 1981.
The members had initially expressed fears of losing the parcel of land to the grabbers.
By Muoki Charles
