From right: Banda Homes Ltd chief executive Fabian Nzivo and the company’s director Andrew Kamau (middle) hand over a dummy key for a house to an investor at White Oak Estate on Kenyatta Road in Kiambu County. The firm has been sued over another project at Red Oak Estate.
Cytonn High Yields Solutions LLP and Home Afrika – are also in court fighting liquidation petitions.
Home Afrika is fighting off an insolvency petition filed by Ecobank, which claims the firm is unable to repay a disputed Sh983.5 million loan.
Banda Homes has become the third big player in the real estate industry facing imminent collapse, as Netherlands-based accountant Susan Obuya seeks to have the company liquidated after it failed to deliver her a home or refund the Sh5.9 million she paid for the unit.
Ms Obuya, an accountant with the International Organisation for Migration (IOM) and based in The Hague, says in court papers that the company has not delivered the maisonette she paid for in January 2019.
