7 assets owned by struggling Kenyan tycoon David Langat

Prominent Kenyan businessman David Langat, widely regarded as one of Kenya’s wealthiest individuals, has faced significant public scrutiny in recent years due to numerous allegations of failing to fulfill his personal and corporate debts. In January of this year, assets of Rift Valley Tea Solutions, a tea processing company based in Dodoma, Tanzania, which he owns, were auctioned off due to non-payment of employees’ monthly contributions to the country’s NSSF Pension fund.

In October 2021, Langat was sued by a travel agency for allegedly neglecting to settle a $152,000 travel bill incurred by his family over a one-year period. Additionally, in 2020, he became embroiled in a dispute with Transnational Bank of Kenya after defaulting on a loan he had received in 2015. Most recently, it has come to light that his prized multi-million dollar asset, the DL Koisagat tea estate, is set to be auctioned as Langat has once again failed to fulfill certain loan obligations.

Langat is the owner of DL Group, a conglomerate with tentacles in tea farming and export, real estate, hospitality and trading. Billionaires.Africa briefly profiles the seven most valuable assets within Langat’s business portfolio:

1. DL Koisagat Tea Estate: This estate, located in Nandi Hills within the Great Rift Valley, encompasses approximately 1,342 acres of land, along with associated plants and machinery. It includes an exclusive tea zone dedicated to commercial tea cultivation for export purposes. The estate boasts 2.47 million tea bushes covering 958.75 acres, as well as 100,942 eucalyptus trees and 2,223 cypress trees.
2. Nyali Center: The largest mall in Mombasa, Nyali Center is a comprehensive shopping, business, and entertainment complex spanning 330,000 square feet. It features office spaces, shops, supermarkets, restaurants, and showrooms.
3. Sunrise Resort Hotel & Spa Nyali: A three-star hotel situated in Nyali, Sunrise Resort Apartments and Spa is conveniently located just a twenty-minute drive away from Moi International Airport.
4. Pearl Hotel Eldoret: This four-star hotel is situated on the outskirts of Eldoret town.
5. DL Furniture: DL Furniture is a retailer specializing in household furniture and accessories, with showrooms in Mombasa and Nairobi.
6. Firefox Kenya: A provider of fire detection systems, portable fire extinguishers, automatic sprinkler systems, fire hydrants, and other fire-fighting accessories.
7. Mufindi Tea & Coffee Limited: Langat acquired Mufindi Tea & Coffee Limited, one of Tanzania’s leading producers of tea and coffee, in 2018.