Telekom Kenya Limited is set to benefit from government plans [Photo/Kachwayna]
Telkom Kenya is expected to receive a large sum of money after a gazette notice was published by the National Land Commission (NLC) on behalf of the Ministry of Public Service, Youth and Gender Affairs.
According to the notice the commission intends to procure 79 acres of land in Ngong Road which is currently owned by Telkom Kenya Limited.
“In pursuance of sections 112 and 162 (2) of the Land Act No. 6 of 2012, the National Land Commission on behalf of Ministry of Public Service, Youth and Gender Affairs gives notice that the Government intends to acquire the following parcel of land for informal sector ‘Jua Kali’ operations in Nairobi County,” NLC chairman Muhammad Swazuri said .
If things manage to pull through the company is set to benefit after a land index by property management firm Hass Consult revealed that an acre of land in Ngong Road costs Sh57 million; this would mean the company would receive around Sh4.5 billion.
Telkom Kenya has said it is aware of the plans and is awaiting to see the governments next move.
“The National Government has gazetted its intention to compulsorily acquire a 79 acre piece of land, along Ngong Road, Nairobi, belonging to Telkom, for the establishment of the informal Jua Kali sector operations in Nairobi County,” said Telkom in a statement