[Source: Daily Nation, by James Kariuki]
Mwalimu National Sacco is seeking to sell two pieces of land in Juja, only weeks after it emerged that it had incurred a Sh2 billion loss on purchase of a bank.
Notices placed in the daily newspapers indicated the sacco was disposing off its 8.094 hectare parcel of land and another measuring 6.070 hectare adjacent to one another. It had planned to put up housing units on the land for sale to its shareholders and members of the public.
The two parcels have an estimated total value of Sh350 million, according to a former top executive who gave the information on condition he is not named.
The giant teacher savings and credit co-operative society had mooted the plan to develop the Juja property after successful completion of its Sh2.9 billion development that comprised 871 housing units at Kisaju in Kajiado County, the largest undertakings by a credit union.
[Full article: Daily Nation, by James Kariuki]
