Mwengi Mutuse, the MP for Kibwezi West, submitted the impeachment motion. Its main thrust is the allegation that Gachagua amassed an astounding Ksh5.2 billion through 22 firms.
The DP vigorously defended himself, claiming that his late brother, the former governor of Nyeri, Nderitu Gachagua, was the owner of several of the properties in issue, including Olive Gardens and Vipingo Beach Resort Ltd. These assets, he argued, were part of his brother’s fortune and not personal buys.
According to Justina Wamae, Kenyans need to understand that the loan was for business and not an employee loan. As a result, being a thirty year old will not be the main emphasize for one to get a loan.
The interest on a 600 million debt is 120 million a year or 10 million dollars a month. For a seven-year term loan, the monthly installment would be twenty million. To service a 600 million debt, a typical corporation with 10% net margins must bring in $300 million in sales per month!
Some Kenyans have racted with some stating, “Do you know how old is ndindi Nyoro and how much he’s worth? Rich kids don’t go through what you can be subjected to. Their father was already rich and could have directed that one of the companies guarantee the sons, or better still would have offered the collateral.”