A company linked to the family of the late former Prime Minister Raila Odinga has emerged among the top bidders for assets worth Sh645.79 million being sold by the TelPosta Pension Scheme, highlighting growing investor interest in the troubled pension fund’s property disposal programme.
According to details reported on the sale, Kango Enterprises, a company co-owned by Raila Odinga and Ida Odinga, submitted a Sh150 million bid for two-bedroom houses along Kangundo Road in Nairobi. The offer was above the Sh145.2 million reserve price, placing the family-linked firm among the strongest contenders in the latest round of bidding.
The disposal is part of a broader effort by the TelPosta Pension Scheme to cut its heavy exposure to real estate and align with regulatory requirements that cap property investments at 30 percent of a pension scheme’s total assets. The scheme has in recent weeks said it is pursuing a wider restructuring plan that includes selling off major properties and shifting capital into higher-yielding investments.
The latest bids suggest strong market appetite for the assets despite the financial and legal pressures that have weighed on the scheme. Reports indicate that the first batch of bids exceeded both the reserve price and the book value of the properties on offer, giving the scheme a potential gain and offering some relief as it seeks to improve its balance sheet.
Other high-value bidders have also shown interest in the sale, underlining the commercial significance of the properties. Among those reported to have submitted major offers are private investors and senior public figures, a sign that the scheme’s real estate portfolio continues to attract attention even as TelPosta moves to offload part of it under mounting compliance pressure.
For the Odinga family, the bid places them in the middle of a high-profile commercial transaction tied to one of the country’s longstanding institutional pension schemes. It also reflects how politically prominent families continue to feature in major business and property deals, especially where strategic urban assets are involved. This last point is an inference based on the prominence of the bidders and the nature of the assets being sold.
The TelPosta Pension Scheme, established in 1997 for former employees of Telkom Kenya and related institutions, has been under pressure to unlock value from its vast property holdings while addressing longstanding financial obligations to members. The current sale is therefore being closely watched not only for who wins the bids, but also for what it means for the scheme’s wider recovery plan.
