City Billionaire Francis Mburu Loses His Ksh10B Fortune

Francis Mburu was at one time a regarded tycoon in Nairobi yet on the off chance that reports by a Standard Group-claimed production are anything to pass by, the riches is gradually blurring endlessly.

In the wake of accepting an enormous payout of Ksh9.8 billion from the administration about ten years prior, it was set up that Mburu has of late been attempting to settle a Ksh500,000 month to month lease for his Karen home.

Citing close guides from the flashy tycoon, The Nairobian uncovered that he lost his riches through his costly tastes and long for an agreeable life.

“Mburu doesn’t gamble. The last time he gambled was 1996. It is just living a good life. It’s sad to see the old man suffer. He had a good heart but spent all his money on people,” stated one aide.

Nairobi Billionaire Francis Mburu.

It was further disclosed that as much as Mburu himself never partook the bottle, he did not have any problem footing the bills for his friends that would amount to a total of Ksh250,000 per night.

He also indulged in the game of pool in which the loser often departed with Ksh50,000 per game. Mburu would reportedly lose up to 20 games in one night.

He was also considered too generous with his closest confidants that he often donated up to Ksh5 million without feeling a pinch. He reportedly once paid out close to Ksh400 million to a government official.

“Another official presumed to have helped him ease payment of his boom from mkono gamu (selfish individual) government pocketed a cool Ksh100 million through a Mombasa-based lawyer,” the paper quoted another source.

Mburu has since lost his General Service Unit (GSU) security detail after he could no longer pay for their services and remains with only one employee, his driver.

How he made the fortune

Mburu made his fortune after he was paid Ksh9.8 Billion for a land in Ruaraka. At the time, he had paid Ksh14 million for the land he used to procure a loan of Ksh21 million which was meant to construct 600 houses for the defunct Kenya Posts and Telecommunication (KPTC).

The creditor was put under receivership and KPTC was forced to secure another loan that only constructed 196 houses that were taken over by the GSU.

GSU then took the neighbouring 30 acres of land citing security reasons and Mburu allegedly spent close to Ksh1.5 Billion chasing the payment.


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