With this effort our goal is to enrich the lives of our residents, and respect the culture and architecture of those we serve. To create and sustain quality affordable communities for low-income seniors and families by bringing people, partners and resources together. Integrity Housing is a nonprofit developer and manager that delivers accountability and serves as a trusted partner in owning and operating quality affordable communities. Bringing dignity and a sense of belonging to low-income seniors and families is not just a concern for cities but for society as a whole. Integrity Housing assumes a leadership role by pulling together key resources, lenders, government agencies, social impact investors and other strategic partners to fill this need, and make a difference in our communities. This means that Revack Limited owed the bank Sh614.4 million, four times more than the Sh152.5 million it had taken as a loan.More than ever before, fulfilling the demand for affordable housing in our communities has become a focal point for government and civic leaders. Mr Waqo also appeared to have glossed over the fact, also mentioned in the report, that as of August 2001, when Trust Bank was placed under liquidation, the charge over the land was Sh614.4 million, which was on account of the accumulated interest. It did not also establish whether the Deposit Protection Fund took care of the interests of the depositors of the collapsed bank by paying them from the proceeds of the rent and the eventual lump sum payment. The matter could also raise more questions because the EACC did not say who the owners of Sunnex Enterprises were, which the committee chaired by Ainabkoi MP Samuel Chepkong’a has been pushing them to do. Watuwatu Limited is in turn owned by Ahmed Adan and Asma Ahmed Adan.īoth Tegus Limited and Watuwatu Limited were registered on the same date, March 13, 2013, and are situated at the same address, Bruce House on Standard Street in Nairobi. Watuwatu and Sunnex own 49 shares each while Ms Muthui and Mr Doshi own one share each. In documents submitted to the committee earlier, the Companies Registrar identified the shareholders of Tegus Limited as companies called Watuwatu Limited and Sunnex Enterprises Limited, with a Rachel Wanjugu Muthui and Anish Doshi as directors and minority shareholders. READ: EACC ordered to name shadowy landlord Mr Waqo said their investigations had thus disclosed the circumstances under which the property changed hands and concluded: “There is no evidence to conclude that management of the revenue derived from the property in any way undermined the interests of the depositors.”
Trust Finance Limited was owned by the collapsed Trade Bank.
The property had been charged to the Deposit Protection Fund because it was owned by Revack Limited, a company that owed Trust Finance Limited Sh152.5 million. In its report, the EACC cleared the sale of the building to Tegus Ltd, a company owned by lawyer Ahmed Adan and his wife Asmah Ahmed Adan, after another company paid Sh115 million to the Deposit Protection Fund to discharge it.Īmong the key issues is the ownership of Sunnex Enterprises Limited, one of the major shareholders of Tegus Limited. The National Assembly had on April 22 resolved that the EACC report to the House the circumstances surrounding the ownership of Integrity House, where their headquarters are located. The meeting, scheduled for 10am on Tuesday at Continental House, is to discuss a report submitted to the committee in May that has been pending for more than two months.
The Ethics and Anti-Corruption Commission has been summoned to a meeting with the Justice and Legal Affairs Committee to discuss the transfer of Integrity House to a company in unclear circumstances.
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