Former Mathira MP Peter Weru Kinyua has joined a growing list of former lawmakers and ministers whose properties have been advertised for auction, underscoring the financial vulnerability many politicians face once their time in Parliament ends.
Keysian Auctioneers recently announced that they would auction Mr Weru’s Garden Estate home in Nairobi, which sits on 0.4685 acres.
The property includes a five-bedroom all-ensuite townhouse, a detached servants’ quarters block, a store block, and a sentry house, said Keysian.
“All that property known as L.R. No. 4894/[Orig No. 4894/82/3] Toto Close, off Garden Estate Road, Garden Estate, Nairobi City County, registered in the name of Peter Weru Kinyua,” said the notice.
Both Mr Weru and the auctioneer declined to disclose details of the loan that led to the forced sale, but his plight mirrors that of other former legislators who have found themselves unable to keep up with bank obligations once out of office.
In January alone, two former MPs, Patrick “Jungle” Wainaina of Thika Town and Philip Okundi of Rangwe, saw their properties put up for sale. Mr Okundi failed to reverse the sale of his house in Lavington after the High Court ruled that he was to blame for failing to deposit Sh7 million.
A macadamia processing company belonging to Mr Wainaina was put up for sale by Stanbic for non-payment of an unspecified debt.
In December last year, it was Yatta MP Charles Kilonzo and former Taveta MP Naomi Shaban—who also served as Cabinet Secretary in President Uhuru Kenyatta’s government—who were on the verge of losing their properties after they were advertised for auction.
Gideon Ndambuki, a former minister in President Daniel Moi’s government, lost his hotel in Machakos in 2020, blaming the effects of the Covid-19 pandemic.
Those who have had to put up spirited fights with banks while fending off auctioneers include former Mwala MP John Mutua Katuku, former Rarieda MP and ex-Jubilee Party Secretary-General Raphael Tuju, and Mishra Swarup, the former Kesses MP.
Mr Tuju is still in court. Mr Mishra was on the verge of losing nine prime assets, including parcels of land hosting Mediheal Hospital branches in Kisii and Eldoret over a Sh53 million debt, before the High Court declared the seizure illegal.
Mr Katuku also saw his farm assets—including tractors and livestock—seized to settle debts. Former minister Suleiman Shakombo lost a house in Kilimani over a debt.
During their tenure, Kenyan MPs live in relative comfort, enjoying some of the most generous perks for lawmakers globally. With salaries and allowances exceeding Sh1 million per month, they are among the highest-paid legislators in the world.
Besides a basic salary of Sh443,760, legislators also receive sitting allowances, mileage claims, and generous per diems for foreign trips, pushing their monthly take-home to over Sh1 million.
Beyond their pay, MPs wield immense influence, often acting as power brokers for large private companies and State corporations, especially while in committees—informing the recent accusation by President William Ruto that parliamentary committees have turned into dens of extortion.
These perks and networks often create the illusion of long-term financial security. Yet, once voted out, the reality is starkly different. The salaries stop, the influence wanes, and the lifestyle—often funded through hefty bank loans—becomes difficult to sustain.
Kenyan MPs also enjoy access to a raft of loans during their tenure, ranging from mortgage facilities to car loans and personal advances.
Through the Parliamentary Mortgage Scheme, they can access heavily subsidised housing loans. MPs are eligible to borrow up to Sh35 million, while the Speakers of the National Assembly and Senate can access as much as Sh40 million.
The loans are offered at a subsidised interest rate of three percent per annum—far below prevailing commercial lending rates—and with a tenure of up to 25 years, making it easier for MPs to acquire prime properties during their tenure.
The arrangement highlights the wide disparity between the financial privileges available to lawmakers and those accessible to ordinary Kenyans.
With commercial mortgage rates in Kenya often ranging between 12 and 18 percent, the scheme shields MPs from the credit pressures facing millions of households and businesses.
It was not immediately clear whether some of the residential houses now under auction were acquired through the Parliamentary Mortgage Scheme.
A banking expert, who requested anonymity, noted that some MPs might have colluded with the parliamentary authorities to divert repayment funds to other accounts.
The wave of auctions is also unfolding against a backdrop of harsh macroeconomic conditions.
Kenya’s economy has been reeling from high inflation, a weakening shilling, and escalating borrowing costs. Interest rates climbed sharply in recent months before trending downwards, driven by government borrowing and tight liquidity in the banking sector.
For many legislators, particularly those with business ventures, this has meant higher loan servicing costs at a time when revenues are falling.
