The sports category has moved to a new website.
ADVERTISEMENT

DP Gachagua's Sh850K investment that skyrocketed to Sh80 million

DP Gachagua said he is planning to build another home for retirement

Deputy President Rigathi Gachagua at his official residence in Karen

Deputy President Rigathi Gachagua shed light on his acquisition of a one-acre property in the affluent suburb of Karen, Nairobi.

Speaking at the Ushirika Day event held at State House on July 1, Gachagua revealed the details behind his purchase, emphasizing the role of savings and cooperative organizations in securing his family's future.

During his address, Gachagua disclosed that he purchased the land for Sh850,000, although he did not specify the exact year or phase of his life when the transaction occurred.

ADVERTISEMENT

Motivated by the desire to provide a home for his family in Nairobi, he saw the value in investing in the property at that time.

Gachagua highlighted the pivotal role of savings and credit cooperative organizations (Saccos) in helping Kenyans secure their financial future.

He revealed that the funds used for the land purchase were sourced from his savings accumulated through a Sacco.

ADVERTISEMENT

This served as a testament to the effectiveness of cooperative societies in facilitating personal financial growth and enabling individuals to achieve their long-term goals.

The Deputy President expressed satisfaction with the growth in value of the property, which now stands at an impressive Sh80 million.

This excludes the value of the house he subsequently built on the land.

ADVERTISEMENT

Looking ahead, Gachagua revealed his intention to leverage his savings held in a Sacco to construct a retirement home.

Drawing from his personal experience as a beneficiary of Saccos, he expressed the desire to tap into the cooperative system once again to ensure a comfortable and secure future for himself and his family.

This decision underlines the importance of long-term planning and utilizing cooperative platforms to achieve financial goals beyond the acquisition of property.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

ADVERTISEMENT