Sunny Varkey, Dubai-based GEMS Education founder and now a business partner of India’s Gautam Adani, sold his high-end Kenyan school for the price of an 800-gram loaf of bread in 2021 after a flopped attempt to capture the Nairobi market.
Court papers filed in a Dubai court show that Mr Varkey’s Gems Africa Ltd initially sold Regis School Runda to Ernest Mureithi, who was at the time the institution’s country director, for $1 as debts continued to pile in the millions.
