The family of the former Cabinet Minister Simeon Nyachae has started the formal process of distributing his multi-billion shillings empire to beneficiaries cited in his will.
In a notice in the Kenya Gazette published on Friday, three of his offspring have notified the public of their intention to distribute his assets, asking anyone who believes they are entitled to a share to contact them.
The notice directs all those who believe they have a claim or interest to submit the same through the Daly and Inamdar Advocates who have offices at ABC Place along Waiyaki Way in Westlands, Nairobi.
“Those who think they are entitled should send their claim or interest on or before the expiry of two calendar months from the date this notice shall appear in the Kenya Gazette,” the notice indicated.
The family noted that after the notice expires, Nyachae’s assets will be distributed among those entitled to it.
The former minister, who passed on in February after a long illness, was one of the wealthiest Kenyans, with assets cutting across the local economy and outside the country.
The billionaire had significant investments, cutting across the banking, agriculture, transport, manufacturing and real estate industries across major towns in the country.
Some of his most notable investments include the Kabansora Mills in Nairobi and 8.6 million shares at a bank listed on the Nairobi Stock Exchange. The shares are currently worth about Ksh216 million based on a spot check by Kenyans.co.ke.
He was among the shareholders of Transnational Bank that has since been sold to a Nigerian firm.
Nyachae left behind five wives: Martha Mwango, Druscilla Kerubo, Esther Nyaboke, Sylvia Nyachae, and Grace Wamuyu.
His offspring include East African Court of Justice judge Charles Nyachae, Kenneth Bitange Nyachae, Mary Nyachae, and Grace Rosemary Nyachae.
One of his wives Grace Nyachae sits on the boards of Credit Bank, Sotik Tea Company Limited and Sansora Group.
Grace once served as Mzee Kenyatta’s secretary at the State House in the 1960s.
