Court intervenes to save Ferdinand Waititu’s property from being auctioned over loan

Ferdinand Waititu

Former Kiambu Governor Ferdinand Waititu has been saved from an embarrassing situation in which auctioneers would have descended on his property to recover a loan he owes Mwananchi credit.

Part of the property include two high-end vehicles that Mwananchi Credit was eyeing to recover a Ksh 10 Million loan that the embattled politician took.

The Micro-finance institution had sought to auction the vehicles to recover its money after the politician who was hounded out of office last year failed to pay the loan.

Waititu took the loans back in 2020 and according to Mwananchi Credit Limited, Waititu used logbooks to the two cars as security for the Sh10 million loan.

The former Kiambu Governor had moved to court seeking to stop the auction.

He claimed that he is financially constrained after losing his job as Kiambu County boss.

The firm however argues that Waititu is a man of able means with assets and businesses spread across the city and the country at large.

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