Methodist Church sells assets to offset KeMU’s Sh3bn debt
KeMU Hub in Nairobi, one the assets that the Methodist Church of Kenya has offered for sale in order to pay part of the Kenya Methodist University’s Sh3 billion debt. PHOTO | FILE | NATION MEDIA GROUP
Bishop Joseph Ntombura said that the debts are historical as they were incurred between 2007 and 2012.
The VC stated that whenever the university encounters financial problems, it runs to its sponsor, the church.
Board of trustees chairman Silas Muriuki explained that the debts came as a result of mismanagement by previous leaders.
The Methodist Church of Kenya (MCK), which manages the Kenya Methodist University (KeMU), has put two of its prime assets on sale in order to offset part of the university’s Sh3 billion debt.
The church’s presiding bishop Joseph Ntombura, who is also KeMU’s chancellor, said that the management has offered for sale the five-storey KeMU Hub located along Nairobi’s Koinange Street, and a 0.875-acre plot at the junction of Lower Factory Road and Kipchoge Avenue in Nakuru Town, with a residential building to potential buyers in order to reduce the debt the university has.
