Citizen TV anchor Jeff Koinange is facing the battle of his life after NCBA bank announced it would sell his homes to recover a sh 130 million debt.
According to Business Daily, two four-bedroom villas belonging to Jeff Koinange were on Monday put up for auction over an Sh130 million bank debt.
The houses in the high-end Kitisuru area sit on 0.67 acres and are each attached to a servant’s quarter. They will be sold when the auctioneer’s hammer falls on April 28.
NCBA bank is seeking to recover at least Sh65 million from the sale of each of the two villas over a debt that fell into default last year, says Garam Investments — which is leading the auction.
Garam is urging those interested in buying the two villas through the public auction to place a deposit of Sh5 million ahead of bidding for the prime homes, which are currently valued at Sh200 million.
With the difficult financial times people are facing due to coronavirus pandemic, we can only wait and see how all this sale unfolds.
It’s never easy losing an investment.