It looks like Kenya Methodist University’s financial crisis is far from over as the University has now resulted to selling KeMU hub.
It is not yet clear what’s going to happen to the students who have been schooling in the five storey building located along Koinange Street, Nairobi. The University is also set to sell a 0.875 piece of land with a residential building in Nakuru town.
This comes just days after it emerged that the higher learning institution was yet to service its loans worth millions of shillings to its creditors in order to be able to get back its assets approximated to be worth around Ksh 42 million said to have been seized by auctioneers including vehicles.
In an advertisement by the institution, all interested firms and individuals are asked to submit documents showing their interest starting Thursday up-to 27th of September 2018. Last year, the Methodist Church Owned University closed three of its campuses in Kisii, Nyeri and Nakuru and sacked over 150 employees as well.
Staff allowances were also slashed by up-to 30% hoping to manage the crises but it seems like the situation could be getting worse over time.
The University has other campuses in Mombasa, Meru town, Maua and Marimanti.