Interesting: The compliance wasn’t achieved through offloading their properties, but by a reclassification in asset classes, resulting in an almost 90% value-drop.
Following a reclassification of its Nyayo Estate in Embakasi to a tenant purchase scheme, NSSF cut its combined land and property holdings to Sh29 billion, representing 22 per cent of its total investment portfolio of Sh135 billion.
The property valuation of Nyayo Estate Embakasi reduced to Sh1.77 billion in June 2013 from Sh9.32 billion in 2012, as per an NSSF gazette notice published Friday.