Two months ago a had lunch with a "kawaida" looking mzee. He mentioned that he was in the process of buying a building in Nairobi CBD at sh70m. Get this, he was paying cash - no loans or mortgage. Later I learned that he is the Chairman of the so-called "Rwathia Group". Have you heard about them?
They now own about 50% of all properties between Tom Mboya street and Kirinyaga Road. And now they have crossed over to the "upper" town. Having purchased Contrust House on Moi avenue. They are now in the process of acquiring Alibhai Sharrif Hse and Kenya Cinema building.
Any way; this Mzee, the Chairman, was buy the sh70m building on own account not the group...
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.