EnglishPoint Marina, a luxury property in Mombasa, has been at the center of controversy, with fresh revelations brought forward by Activist Nelson Amenya.
The property, owned by Pearl Beach Hotels Ltd, was financed through loans totaling 5.2 billion Kenyan Shillings (KES) from KCB Group.
Despite the project’s completion in 2017, the company failed to meet its loan obligations.
Nelson Amenya has alleged that the financial challenges are just the tip of the iceberg, pointing to suspicious activities involving KCB and the hotel accounts.
The directors of Pearl Beach Hotels Ltd include Amyn Kanji, his wife Leila Kanji, Alnoor Kanji, Nafisa Kanji, and Nazir Jinnah.
Even after multiple loan restructuring offers from KCB, the company defaulted, leading the bank to appoint Kamal Bhatt as a receiver-manager in June 2022.
Nelson Amenya believes this move was not only about debt recovery but could also be tied to undisclosed activities between the bank and the directors.
He argues that the financial arrangements surrounding the property deserve deeper observations.
In July 2022, the High Court issued an order stopping KCB from taking control of EnglishPoint Marina.
However, in October 2022, the Court of Appeal overturned this decision, allowing KCB to proceed with the receivership.
Nelson Amenya has raised concerns over these legal twists, questioning whether there was undue influence at play.
According to Amenya, the speed at which the court orders changed is suspicious and warrants further investigation.
Apartment buyers at EnglishPoint Marina have also been caught up in disputes, claiming inflated service charges and restricted access to their properties.
Nelson Amenya highlights these grievances as a sign of mismanagement by the developers.
Internal wrangles among the directors have added to the chaos, with Nazir Jinnah facing accusations of fraudulent share transfers and impersonation.
Amenya has linked these issues to the broader financial irregularities he believes are at the heart of the project’s troubles.
One of the most shocking claims comes from Nazir Jinnah, who has accused KCB Group of laundering 69 billion KES from South Sudan through the hotel accounts.
Nelson Amenya has supported this claim, stating that it aligns with other suspicious activities he has uncovered about KCB.
Nelson Amenya has been vocal in calling for transparency which saw the Adani-JKIA deal being quashed, insisting that authorities need to investigate both the bank and the developers thoroughly.
He argues that the public has a right to know how such a high-profile project became embroiled in financial struggles, legal battles, and accusations of money laundering.
Amenya maintains that the truth about EnglishPoint Marina will only come to light through a comprehensive and independent probe.
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