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Wealthy Pastor Set To Buy Uchumi Land For Ksh 2.8 Billion

Politically connected Pastor Edward Mwai Kiongo and four other officials of a church in Roysambu, Jesus Winners Ministry, are set to be the new owners of Uchumi’s multibillion-shilling Kasarani land.

The private company at the centre of the Sh2.8 billion transaction, Jewel Complex Limited, is majority owned by Mr Edward Mwai Kiongo, also a leader at the church.

Jewel Complex was registered on May 23 last year. Mr Kiongo holds 36.36 percent stake, Mr Paul Gichohi Mutune with 9.09 percent ownership while Ms Agnes Wanjiku Kiongo, Mr Raphael Mwiti Thiaru and Mr James Kiongo Mwai all hold 18.18 percent shares each.

The church has previously hosted President Uhuru Kenyatta and his deputy William Ruto for prayers during their last church service, two days before the August 8 General Elections last year.

They also hosted Mr Kenyatta on June 30 2013, about two months after he assumed power.

A Sh330 million deposit has already been paid on the underway transaction.

Details of the retail chain’s land deal were revealed in documents that UBA Bank, one of the creditors, filed in court seeking a share of the sale proceeds to clear an outstanding loan.

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