The Nation (Nairobi)

Kenya: Property Audit Vital

editorial

Nairobi — If what Internal Security permanent secretary Francis Kimemia plans for property owners in Nairobi and elsewhere is effected, then many lives will be disrupted. But there could be merit in the plan.

For years now, there has been an inexplicable property boom in parts of Nairobi, especially Eastleigh estate. Huge buildings have been going up, rents have been shooting through the roof, and land prices are now astronomical.

And then, in the same period, pirates from lawless Somalia have been making a killing through ransom paid. It is speculated that this could be the money used to buy real estate.

So, at long last, the authorities have woken up to the reality that huge amounts of money may have been laundered, and since Kenya still does not have a proper law to contain this illegality, crooks may be having a field day.

Hence the decision by the government to do an audit of who owns what property in the city, and thus establish whether any laws may have been broken.

However, great care must be taken to ensure the audit is carried out in a manner that does not discriminate against Kenyans of Somali origin.

If the buyers of prime property cannot account for how they acquired the money, thorough investigations must be carried out to trace the origins of the money that is distorting the property market.


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