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Tanzania Tycoon Agrees With Former Wife to Share Sh450 Million Assets

Discussion in 'Habari na Hoja mchanganyiko' started by nngu007, May 5, 2011.

  1. nngu007

    nngu007 JF-Expert Member

    May 5, 2011
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    Maureen Mudi
    4 May 2011

    A Tanzanian tycoon and his former Kenyan wife have agreed on how to share their Sh450 million property row recorded consent over how to split their property.
    Sources said Mohammed Bakhressa and his former wife Nasra Abdulwahid agreed on a 50/50 sharing deal of most of their assets, with the woman retaining their residential house in Nyali.

    The property, which had been at the centre of the legal suit filed in 2006 by Bakhressa, involved plots, flats, vehicles, boats, money in bank accounts in Kenya and Uganda and several other investments.

    The couple, which got married on January 9, 2002 in accordance with Islamic law at a ceremony held in Mombasa, were separated on June 19 2006, after Bakhresa gave his wife talak, due to irreconcilable differences. Abdulwahid acquired a total of three flats, one which was hers, another for her parents and the third one for her brother. In the 50/50 sharing arrangement, the two will share eight properties equally with each taking four.

    It was also confirmed that Abdulwahid had returned over Sh98 million of the investments they had made and most of the vehicles. Due to the sensitivity of the case, and the lawyer-client confidentiality, details over how much had been transacted could not be availed.

    Bakhresa had listed several properties that they acquired under the benami transaction or principle and in trust for him. When the case came up for mention on Friday, the lawyers representing the two, Mohammed Balala for the tycoon and Japheth Asige for the woman, informed the court that they had already recorded an out of court settlement, over how to divide the property.