The name “Akuria A Kangari” means developers from Kangari (a village in the larger district of Murang’a). As the name suggests the company is made up of development conscious investors from the village. Prior to the year 2002 the company had 114 members from Kangari and its environs in the larger Muran’ga district of Central province. At the moment the company has 250 members majority of whom are small-scale farmers from the rural areas of Kangari Village. A few members are based in Nairobi while some live and work in the Diaspora mainly united Kingdom, United States of America, Canada as well as other countries.
The completed properties in Nairobi include: Rhapta Terraces (Westlands), Ngara Heights and Muhika in Ngara and along Juja Road. In Murang’a, the East End Mall is currently in progress; the expected completion date is October 2015. Cumulatively, the above properties are valued at approximately KShs. 800 million. The Investment Company has progressively grown with an annual net profit of approximately KShs. 36 million and paid up capital of KShs. 100 million. The Investment Company pays out dividends twice a year, as part of the Company’s policy.
The Investment Company has been committed to enhancing economic development of the community and as a result the promoters and members share the vision of operating a financial services organization that would best serve the needs of the members of Murang’a County. It is in this view, that the concept of a locally owned initiative through establishing and operating a community microfinance bank in Kangari was envisioned. The primary promoters of this venture are all members of Akuria A Kangari Investments Company.
What we do
We purchase land and buildings in high prospect areas with an aim of putting up better, cleaner and modern developments. Properties are developed through share holders equity and loans from financial institutions associated with the company.
The company started in 1971. Mr. Muhika Kageni and Hon Mwangi Thuo were the pioneers and their main aim was to buy plots and rental houses for future investment purposes. The same year, the company purchased two plots of land in Juja Road and Ngara respectively. At the end of 1973 it purchased more land along Rhapta Road in westlands Nairobi. In 1999, the old building in Ngara was brought down to pave way for the construction of The Muhika Kageni Flats which house the current company offices. Between 2004 and 2006, the buildings at Rhapta road were also brought down and the new and elegant Rhapta Terraces were brought up.
Over the years the company has undergone numerous changes and has had great achivements. The directors and share holders have contributed greatly and invested in the success of the company.
We are dedicated to contributing on positive development in the country. Our slogan is “two cannot walk together unless they agree to” and as the slogan suggests our mission is to work together as one to achieve our goals. Without any doubt two heads are better than one and therefore partnership is the main pillar in the company. The villagers from Kangari saw the need for better housing and improved standards of life and through the years they have managed to earn extra money from dividends they earn from the company. It is the company’s principle to pay dividends twice a year, at the end of June and December respectively. Every month the chairman, general manager and other directors visit Kangari to inform villagers of the latest developments and encourage them to buy shares.