The private limited company at the centre of the Sh2.8 billion transaction, Jewel Complex Limited, is majority owned by Edward Mwai Kiongo, also a leader at the church. Jewel Complex Limited was registered on May 23 last year. Shareholders of the firm include Edward Mwai Kiongo who holds 36.36 percent stake, Paul Gichohi Mutune with 9.09 per cent ownership while Agnes Wanjiku Kiongo, Raphael Mwiti Thiaru and James Kiongo Mwai all hold 18.18 per cent shares each. Sh330m depositCourt filings show that the struggling retailer has entered into an agreement with Jewel Complex Limited to sell the land at Sh2.8 billion. Challenging approvalKasarani Mall Limited is a subsidiary of Uchumi Supermarkets through which the retail chain owns the land.

Source: Daily Nation December 18, 2018 07:06 UTC