A company co-owned by former Prime Minister Raila Odinga and his widow, Ida Odinga, is among the leading bidders for properties valued at KSh645.79 million being sold by the Telposta Pension Scheme.
The sale is part of a broader effort by the pension fund to reduce its exposure to real estate and comply with regulatory requirements.
The bid comes months after Odinga died on 15 October last year, marking a notable move by the family into a competitive property acquisition process involving multiple high value assets across Kenya.
The Odinga family, through Kango Enterprises, submitted a bid of KSh150 million for two bedroom houses located along Kangundo Road in Nairobi. The offer exceeded the reserve price of KSh145.2 million, signaling strong investor interest in the properties.
According to records from the Business Registration Services, Kango Enterprises is jointly owned by Raila Odinga and Ida Odinga, each holding 100 ordinary shares in the company.
Strong investor interest in Telposta property sale
The Telposta Pension Scheme opened the bidding process on 30 October 2025 and closed it on 1 December 2025 as part of the first phase of its multi billion shilling property disposal plan.
Several other investors have also submitted significant bids for Telposta properties. Proland Holding Limited placed a KSh400 million bid for a bungalow in Nairobi Matumbato area, surpassing the reserve price of KSh366 million.
Company records show that Proland Holding Limited is owned by John Mburu Ikinu, with James Watitu Njoroge and Arthur Konye Igeria listed as director and secretary respectively.
In Nyahururu, Rebecca Miano submitted two bids valued at KSh12.84 million and KSh12.16 million for separate bungalows. Patricia Kiwanuka placed three bids totaling KSh18.75 million, including KSh14.55 million for a bungalow along Elgeyo Marakwet Road in Nairobi and two additional bids of KSh2.1 million each for properties in Mweiga.
The Telposta Pension Scheme is disposing of properties to align with regulations that limit pension funds investment in real estate to 30% of total assets. Currently, the scheme property holdings stand at about 83%, far above the regulatory threshold.
According to scheme administrator Peter Rotich, the response from investors has been strong, with top bids exceeding both the reserve price of KSh593 million and the book value of KSh493 million for the assets on offer.
The competitive bids represent a KSh151 million gain. The scheme is now engaging successful bidders and expects to close the first round with an estimated 31% return.
He added that proceeds from the sale would be redirected into higher yielding securities to improve returns for members. Many of the properties being sold have historically generated annual returns of under one percent.
Following the strong interest in the initial phase, Telposta has launched a second round of property sales involving more than 40 assets. These properties, valued at a reserve price of KSh414.72 million, are located in Nairobi, Naivasha, Nyandarua, Karatina, Nyeri, Isiolo, Kericho, Sotik and Eldoret.
The bidding process for the second phase opened on 12 March and is scheduled to close on 27 April. Interested buyers are required to submit a deposit equivalent to 10% of the reserve price for each property.
At the same time, the scheme is in discussions with the government regarding the potential acquisition of four strategic properties including Telposta Towers, Gilgil GTI staff quarters and two residential flats in Makande and Bombolulu in Mombasa.
The government has expressed interest in acquiring these assets, which are collectively valued at about KSh10 billion, citing their strategic importance.
Established on 1 July 1997, the Telposta Pension Scheme was designed as a defined benefit plan for employees of Telkom Kenya. It became a closed scheme in 2007, meaning it does not admit new members.
Today, nearly 84% of its members are aged between 60 and 79 years, with the scheme paying an average monthly pension of KSh11,895. Since its closure, it has disbursed over KSh14.5 billion to more than 5,000 members.
The majority of beneficiaries are former employees and dependents of workers from the defunct East African Posts and Telecommunications Corporation and Kenya Posts and Telecommunications Corporation, which later gave rise to Telkom Kenya, Postal Corporation of Kenya and the Communications Authority of Kenya.
