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Why Kanu is selling assets worth over Sh1 billion – 254news.live

Why Kanu is selling assets worth over Sh1 billion

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The Kenya African National Union (Kanu) is planning to raise funds ahead of the 2022 election campaigns.

The party said Thursday that it has earmarked its assets worth Sh1.3 billion for sale to boost its financial status.

Mr George Wainaina, who is the secretary of Kanu’s national secretariat and Kiambu Kanu chairman, said the money raised will help strengthen the party operations.

“Our preliminary report shows that we have more than Sh1.3 billion assets across the country which are sitting idle and have been misused for many years.

“They include houses and prime plots. We have appointed an agent who will sell the property on our behalf. We will use the money generated to strengthen our party operations,” Mr Wainaina told the Nation.

He added:  “Our agenda for now is to popularise the party from the national level to the grassroots and we need money to finance our operations.”

Mr Wainaina said the party is recruiting new members because it will field a presidential candidate in the 2022 elections.

“For this to be achieved, we have to create a sustainable revenue stream,” he said.

Mr Wainaina said the decision to dispose of some of the party’s assets was endorsed by Kanu chairman Gideon Moi.

He clarified that rental premises will not be sold because they generate revenue for the party.

Most of the property up for sale, Mr Wainaina said, are in Nairobi, Kiambu, Kisumu, Mombasa and in the Rift Valley.

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