Athlete Sammy Kipketer Risks Losing Prime Property Over Ksh80 Million Loan

  • Kenyan athlete Sammy Kipketer during a past championship.
    Kenyan athlete Sammy Kipketer during a past championship.
    Podium Runner
  • Kenyan athlete, Sammy Kipketer, and his wife Beatrice were barred from collecting rent from their prime-storey building in Eldoret Town.

    In a ruling delivered in Uasin Gishu, Justice Eric Ogola stated that Kipketer defaulted on a loan of Ksh80 million which was secured after listing the building as collateral.

    Justice Ogola directed the couple to provide a comprehensive list of tenants who occupy the building located along Utalii Street in Eldoret.

    The couple was also ordered to backdate all rental arrears since November 2021.

    The Kibargoi building in Eldoret Town owned by Sammy Kipketer
    The Kibargoi building in Eldoret Town owned by Sammy Kipketer.
    Daily Nation

    "I direct that Allan and Brandley Company Limited do resume collection of all rent from the premises as per the orders of this court issued on February 1, 2022, and thereafter give an account to this court on whatever is required to do so," stated Justice Ogola.

    Court documents showed that Kipketer used the parcel's title deed as collateral for the property while acquiring the loan from a local bank.

    Beatrice, on the other hand, denied offering her consent to use the title deed as collateral for the loan arguing that details of her signature and ID were fabricated.

    She argued that she had contributed to the land's purchase and oversaw the building's construction.

    The bank filed the suit seeking to auction the property after the couple defaulted on the loan in a case that kicked off five years ago.

    Kipketer is said to have entered into an agreement with another businessman and took a loan whose interest has since ballooned to over Ksh500 million.

    The businessman also risks losing his Karen, Nairobi home and a spate of other properties eyed by auctioneers. 

    Kipketer and his wife faulted the bank for pursuing them as guarantors instead of targeting another principal borrower mentioned in the case. 

    An image of a legal scale and a gavel.
    An image of a legal scale and a gavel.
    File