The promise of owning a home at an affordable cost is almost always a deal too hard to resist.
So when Bishop David Ngari, chairman of Ekeza Sacco and Gakuyo Real estate firm, came up with such a deal, 7,000 Kenyans signed up.And according to the latest audited books, they had cumulatively saved Sh316.5 million by December 2015.
To join the housing scheme, prospective home buyers are required to deposit a minimum of Sh10,000 as booking fee.Once this is done, they can now start saving continuously with the sacco under the scheme christened Gakuyo Zero Deposit (G zero D) programme.Mr Atambo Ngoko is one of the many Kenyans who had joined the housing scheme and had saved Sh30,000 plus the registration fee.But Ngoko is now bitter over what he terms as ‘serious fraud’.
Just recently a message has been doing the rounds on social media accusing Banda Homes Limited of shortchanging their buyers.
The developer was accused of failing to deliver homes to buyers despite having received deposits amounting to Sh1.5 billion since last year.
The reports claimed the money raised was used partly to pay for the land where several other estates will be built on Kenyatta Road and in Kikuyu near Sigona and to finish up old projects.
The firm, the reports claimed, has re-branded at least two times since 2011, during which it has acquired new names to avoid being followed by clients after allegedly failing to deliver on projects.
This Banda Homes!!!After rebranding two times since 2011 from failed companies 1.Dinara developers in 2011 and 2.Lettas Developers in 2013 and currently Banda Homes raised a redlight.
Looking at their facebook page, my fears were Confirmed! Here is the story…#BandaHomesScam— CAPTAiN JOSH🇰🇪 (@JoshTheChelsea) February 21, 2019
In a rejoinder, Fabian Nzivo, the company’s CEO, said reports that they had diverted the money collected from clients to other projects was a propaganda being propagated by their business rivals.
He said all their housing projects were on course and would be completed within the stipulated time.Before you buy any property, please check with COFEK. Call 0715555550 or email: hotline@cofek.co.ke Stop the scams #BandaHomesScam pic.twitter.com/kZHLC1Vr1r
— Consumers Federation of Kenya (COFEK) (@CofekRebranded) February 21, 2019
On rebranding accusations, he said: “Banda Homes Limited was incorporated in January last year. It is a company on its own and the companies mentioned in the reports going around all have functioning offices.”