Kanu eyes Sh1.3bn from idle assets sale

Kenya African National Union (Kanu) is planning to raise more than Sh1.3 billion through assets sales ahead of the 2022 election campaigns.

The party—which led Kenya for nearly 40 years—has tapped unnamed agents to sell land, houses, and office blocks spread across the country.

Mr George Wainaina, who is the secretary of Kanu’s national secretariat, 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,” Mr Wainaina who is also Kiambu Kanu chairman, said in an interview.

“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.”

Kanu is seeking to re-energise itself ahead of the 2020 General Elections after being in periphery over the past decade.

“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 also recruiting new members with plans to 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 Kanu chairman Gideon Moi had endorsed the decision to dispose of some of the assets, adding that rental premises will not be sold because they generate revenue for the party.

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