Kenya National Federation of Co-operatives yet to sell off assets


Feb 6, 2017

By Jackson Okoth
The defunct Kenya National Federation of Co-operatives (KNFC) is yet to sell off its assets, 36 years after it was first placed under liquidation by the Commissioner of Co-operatives.
In a recent notice, KNFC announced that it is selling invites tenders for purchase of a go down situated in Nairobi’s Industrial Area along Nanyuki Road. This is the second time the property is being advertised for sale after the initial invitation for bids expired on November 14th, 2016.
The property LR No. 209/4047 comprises two floors with approximate area of 0.06697 hectares or thereabout. The property has leasehold of 67 years 6 months with effect from 1980.
According to the advert, this property can be viewed during working hours. The tender documents will be issued upon payment of non-refundable fees of Sh 5,000 in cash or bankers cheque at Nyayo House 12th Floor, Room 34.
The state has been extending the winding up order and reshuffling liquidation officers during the more than three decades that KNFC shut down its operations.
“ I extend the period of the liquidation with effect from 16th December, 2011 for another period not exceeding one year for the said Mr Luke Omwansa-Chief Co-operative Officer and Fred Sitati-Chief Co-operative Officer, to act as liquidators in the matter of the said Co-operative Society, said the then Commissioner for Co-operative Development Fred Odhiambo. This information was contained in a Gazette Notice No. 1304, dated 16th December, 2011.
Patrick Musyimi, who took over from Fred Odhiambo as Commissioner of Co-operatives, could not also oversee completion of KNFC’s liquidation. In one gazette notice, Musyimi also extended liquidation of KNFC.
Little known KNFC first burst into the limelight in September, 20O3 when it announced that it was one of the partners in Econet Wireless-owners of the yu mobile brand. When KNFC could not raise the required cash to purchase the licence, Econet was forced to sell off the brand to an Indian firm Essar Communications, which eventually sold the yu mobile network to Safaricom and Airte

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