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Kenya Re in trouble over Sh1b invested in idle land

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Reinsurance Plaza building in Nairobi city taken on June 2015. [File, Standard]

Auditor General Nancy Gathungu has raised concern over investments by the Kenya Reinsurance Corporation (Kenya Re) in prime land worth nearly Sh1 billion, which is not bringing any returns as it is embroiled in ownership disputes.

Among the parcels of land owned by Kenya Re is a piece of land within the Jomo Kenyatta International Airport (JKIA) valued at Sh780 million as at December 2023.

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