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Ransom money goes into Kenya property market
Brunei News.Net Saturday 2nd January, 2010
Property prices in Nairobi, Kenya have been rocketing since Somali pirates entered the market.
A public outcry has followed the massive hike in property prices after allegations that millions of dollars in ransom money paid to Somali pirates are now being invested in Kenya.
Kenya, which is Somalia's southern neighbour, has seen three-fold increases in Nairobi properties which political figures believe are being driven up by the laundering of ransom money to purchase real estate.
Large business and apartment buildings have been bought by the pirates, who have collected about $100 million in over the last two years from shipping owners ready to have their vessels and crews returned safely.
Some of the pirates have freely admitted they invest their ransom money outside their war-torn country, including in Kenya and Dubai.
Kenya shares a roughly 800-kilometre border with Somalia and has a large Somali community of up to 200,000 people. Email this story to a friend
Comments on this story
kemyana 01-03-10, 03:16 AM |
Kenya property boom fuelled by pirate cash
somali investers have been doing their business in kenya since the collapes of the somali government in 1991. and half a million somalis live and work in nairobi,and we kenyans appreciate this. the somalis in kenya have no relation with the pirates . these rumours are probaganda to discredit the somalis
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Anonymous 01-03-10, 04:12 AM |
Kemyana,nobody will discredit anybody or a Somalian
if your people does practice piracy at sea for money. To me I would like to kill on sight if they are capture Somalian pirate at sea.Tell me all those money the Somalian are using to purchase property,where did it come from?from Somalia,your currency is worth for shit. Remember all those money paid for ransom has serial numbers and the are traced money paid as ransom.So what are you talking about.It is no rumors it is a facts.
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Anonymous 01-03-10, 02:17 PM |
Kemyana
You are talking out of your ass.Those are money paid as ransom. No Somalian are rich folks,they are as poor as the dumpsey dumpsters. All money was traced as paid ransom from the piracy earned. They called it blood money. The Kenya goverment should refuse that kind of currency and property paid by ransom money should be void.If they have honest goverment.
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kaka mkenya 01-03-10, 06:28 PM |
Find peace we tired of somalis
Please do find peace quick as Kenyans we have soo many problems that we wish to sort them out alone as Kenyans we need no more refugee burderns u may go to the oil rich countries please stop coming into kenya We are soo poor our kids miss school collages chances bcoz of u high crime rate more guns we can’t buy houses coz of u kenya should benefit kenyans first If not go to the UN AND BE REFUGEES IN THEIR OFFICES NO MORE PLEASE IN KENYA .REFUGEES SINCE I WAS YOUNG UGANDA, SUDAN, CONGO, RWANDA, SOMALI NAME IT. NO ONE PAYS KENYA MONEY TO VE THE REFUGEES.
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Anonymous 01-04-10, 02:22 AM |
If it is that kenya is heaven for ill gotten money from piracy,then the goverment must stop the willing and dealing of the Somalian purchase of property in that part of the world.It is the fault of the goverment they entertained the Somalian investment and retired in Kenya.The goverment can stop all purchase if they are not Kenyan citizen but if they the bribe the officials than you all have problems.Somalian ransom money are sanction by all country because they can purchase or put the large amount of money to outside of the country banks because they are hot cash and all serial numbers are registered prior to payments.REmember it is now they age of computers and modern electronics.
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