Mombasa tycoon TSS’ land up for sale over bank debts

Commercial banks that had lent Mombasa tycoon Twahir Sheikh Said (TSS) billions of shillings have put up more than 6,700 acres of his leasehold land holdings and property on the Kenyan coast for sale, adding impetus to his business empire’s free fall that began late last year.

Mr Said, who died early this month, had defaulted on loans amounting to more than Sh3.5 billion that various entities in his vast business empire had borrowed from local banks but were unable to pay by early last year.