Hundreds of squatters living on a piece of land owned by East Africa Portland Cement (EAPC) in Athi River are relieved after reaching an agreement that will see them own the land.
After 11 years of tussling with the cement processor, the company has accepted to sell the 1,331-acre parcel.
The prime land will be sold at Sh6.25 million per acre against a Sh20 million per acre market value. The figure was reportedly determined after intense lobbying and negotiation.
Most squatters own eighth-acre plots and each is required to pay for their plot in three years before getting a title deed.
However, due to the inability of most squatters to raise the funds, their leadership has approached a local investor who has bailed them out by depositing Sh1 billion as commitment fee to EAPC.
“We want to assure our members [that] there will be no more eviction threats... The investor will also cater for stamp duty, capital gains tax, land rates and other charges. It’s a win-win deal between the squatters and the investor,” Mr Pius Musembi, the squatters’ patron said.
In a public participation forum attended by jubilant squatters on Saturday, they asked their leadership to renegotiate the payment period to enable more of them to pay for their land.
The land is currently fully developed. Development of public primary and secondary schools is in its initial stages. The area is connected to the national grid.
“The fear of eviction has held us captive for years. We can breathe a sigh of relief now. Most of us are poor and might not be able to pay for our plots in the proposed three years... We are ready to pay but we want our leaders to further renegotiate on the payment period,” Ms Mary Mutila said.
Mavoko MP Patrick Makau urged various organs of government to support the deal between squatters and EAPC to ensure the former get title deeds in time.
Mr Makau said both the national and county governments should ensure residents have access to basic amenities, including hospitals and schools.
“We’re reaching out to the relevant government agencies to ensure the squatters are settled peacefully... Only squatters living in this land will be settled,” Mr Makau said and promised further negotiations on payment period.
This is the second piece of land EAPC is surrendering in two years after recently transferring 745 acres to KCB Bank as instalment payment for a Sh6.6 billion loan.
The cash-strapped EAPC,in a board resolution on September 27, 2019 approved by the Cabinet, sought to dispose of 16,000 acres to raise Sh45 billion to settle debts and turn around the company.
