KeMU, a chattered university, has put on sale its Nairobi KeMU Hub, the five-storied building which houses its Nairobi campus along Koinange Street, a Clear sign if the university’s worsening financial woes.
The fate of the Nairobi students remains unknown. Some might have to relocate to its Meru main campus or the university might cut a deal with the buyer to retain the institution as a tenant.
The Meru based institution is also selling a piece of land in Nakuru, measuring 0.875, the land is occupied by a residential building in Nakuru town. This is according to an advertisement seeking bidders to but the property.
This comes shortly after it emerged the institution still owed creditors millions in unpaid bills which has pushes creditors to the point of reclaiming the institution’s assets to pay off the debts incurred. Seized by auctioneers are assets including Buses and others totaling 42 million Kenya shillings.
University Board of Trustees’ chairman Silas Muriuki has pledged to pay the debts by the end of the week.