The threats by Government should be taken very seriously as it will have a negative effect on our struggling economy, struggling businesses, low collection on Government income and erode confidence in real estate & more so people trusting Kenyan title deeds.
The current issue raised by Hon. Tobiko and highlighted by 4th Estate is a critical issue that will not effect the original beneficiaries allocated those parts of Ngong forest but will have very serious and negative impact to current owners – Wanjikus
Other pain bearers include:
1. Retired civil servants who bought in those estates (some of these developments have got over 20,000 home owners), https://www.standardmedia.co.ke/article/2001376361/20-000-homeowners-in-city-estate-risk-losing-property
2. There will be a serious affect to banks who have massively supported home buyers and those deeds are in the bank as security for mortgages
3. The loss of Government revenue in terms of (rates, rent, tax paid by affected businesses etc
4. The current home owners are mostly 6th or even 8th generation owners….they do not know the stories of 1932, 1978, 1997 etc . We should spare them the pain. The back falls on the Government who happily receive the income, they approve the titles, they approve the houses, they even have their own installations in this very ‘forest’
Finally, as private sector members, we need to offer balanced advise to the current Government.
George Wachiuri- Optiven group www.optiven.co.ke