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DAILY NEWS

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DAILY NEWS

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Showing posts with label auctions. Show all posts
Showing posts with label auctions. Show all posts

Nairobi Cab Driver Warns: Car Faces Auction Over KSh 500k Debt

  • Caleb Tito is one of the Kenyans set to face the auctioneer's gavel, as he still owes KSh 500,000.
  • Just like any other individual aiming to become self-reliant, Caleb went to a microfinance institution and requested KSh 500,000, which was the amount he needed to purchase a car.
  • He had been making timely payments on the loan for a while, but unfortunately, health issues emerged, preventing him from completing it.

Nairobi: Kenyans are contacting a young man named Caleb Tito, who revealed in an emotional video that he is at risk of losing his home and car due to a KSh 500,000 debt.

In the video, Caleb mentioned that he is the eldest child in his family, and he was simply striving to create a better life for his widowed mother and those who follow him at home.

"I'm on the verge of breaking; it seems like Mutua's destiny is going to be mine, and all I have left is hope that's slipping away," he said.
"I am currently at work; I have been encouraged by Mutua to express myself; the same situation that occurred to Mutua also happened to me. I have been attempting to run a business, but health problems have impacted everything," he added.

What makes the car significant to Caleb?

Caleb's car serves as his primary means of earning money, and he obtained a loan from Haki Finance since he required a vehicle but lacked sufficient funds.

"I attempted to settle it, but my health problems made it impossible for me to pay. I put in a lot of effort; there are times when I work for 24 hours and only manage to sleep for an hour, yet it's still not sufficient. I never intended to take anything from anyone," said Caleb.

Numerous young individuals lose their lives daily in this area; they are involved in accidents and similar incidents due to things not going their way.

"I attempted to end my life during primary, secondary, and university education. Hope kept me going; as men, we don't usually talk about our struggles, but when we do, we stand together," Calen said.Daily News.co.ke.

What are the consequences of an approaching auction?

While stating that he is also an employer of five, Caleb mentions that it would have been challenging to retain them as well.

"I'm on the verge of losing everything this week. I'm not very resilient. I'm sleep-deprived and have no appetite," he said.
"Many have advised me not to quit, so the plan is to earn some money and escape default," he said.

Caleb is available at

What was the response of Kenyans to Tito's narrative?

Abela:

Your life is everything you require. Believe me, you will start over. The fear of the unknown is consuming you. I was in that situation two months ago...life has continued and I'm still alive. Maintain that hope...something will emerge.

Money 💰💰💰 🛍️:

Kama ni jaluo wacha afinywee na amalizwee ...juu jaluo ndo wanafanya kasongo akaee kwa power....finywaaaa.

The armature254🇰🇪:

Guys, you said it...it hasn't happened yet....Daily News mbogi, you said it to the boy.

@cheruto sheryl:

It will be fine for you, we've been through similar situations, dealing with auctions, but we're still here, brushing off the dust and continuing forward no🙏.

Shantel Ben:

Are you telling us when things were good 🤣🤣.

Ñemmy✝️💜:

I really want to tell you not to give up, but as the firstborn, I'm struggling too. It's really tough, but this is my life 😭.

Mutua receives KSh 250k, pool position

In a different tale, Joseph Mutua breathed a sigh of relief as circumstances began to improve for him, a few days following his lowest point.

A young individual had posted on TikTok explaining that he was being sold, and people felt deeply sympathetic towards him.

Currently, Mutua's life is transforming individually, as supporters begin to offer him various opportunities.

Stanbic Bank Auctions 22 Vehicles, Starts at KSh 840k

  • Stanbic Bank Kenya released an announcement in a local newspaper, detailing all 22 vehicles scheduled for a public sale.
  • The bank specified the minimum prices for the vehicles and established a deadline for potential car buyers to place their offers.
  • The creditor established a non-refundable registration fee that participants must pay, and provided an email address to submit their offers.

A journalist from Daily News.co.ke, Japhet Ruto, has more than eight years of expertise in covering financial, business, and technology topics, providing valuable perspectives on economic developments in Kenya and around the world.

Stanbic Bank has disclosed a public auction offering 22 vehicles for sale in Nairobi, Kiambu, Meru, Mombasa, and Kisumu.

A statement released in the Daily Nation on Friday, July 18, urged potential bidders to submit their offers by Friday, July 25.

"All participants must pay a non-refundable fee of KSh 2,000 for each vehicle they bid on. Inspection of the motor vehicles must take place at the designated storage facilities prior to submitting a bid. Bids that include complete contact information should be sent by email to SBKDebtvendors@stanbic.com," the bank mentioned.

What automobiles is Stanbic Bank selling off?

DescriptionRegistration numberYear of manufactureTo be viewed atReserve price
1. Nissan Patrol V8KDR 652D2023Phillips International Auctioneers Yard-KileleshwaKSh 21.15 million
2. Toyota Land Cruiser V8KDP 470J2016Phillips International Auctioneers Yard-KileleshwaKSh 7.31 million
3. Mitsubishi FusoKDH 047Z2021Phillips International Auctioneers Yard-KileleshwaKSh 5.67 million
4. Toyota Land Cruiser TXKDR 601B2017Starstruck Auctioneers Investments Yard-KiambuKSh 5.5 million
5. Mitsubishi FIV1KDM 148Y2023Phillips International Auctioneers Yard-KileleshwaKSh 4.77 million
6. Toyota Land Cruiser TRKDM 530V2016Jogoo Road Warehouse - Jogoo RoadKSh 4.68 million
7. Mitsubishi Fuso FIV1KDJ 043M2021Phillips International Auctioneers Yard-KileleshwaKSh 4.5 million
8. Mercedes-Benz ActrosKDM 129S2016Blackbird Auctioneers-Milimani KisumuKSh 4.4 million
9. Mitsubishi CanterKDP 541M2023Blackbird Auctioneers-NyaliKSh 4.3 million
10. Isuzu FVRKDJ 475Q2022Mount Kenya Auction Yard-MeruKSh 4.23 million
11. Mercedes ActrosKDJ 582Y2015Pambo Auctioneers-KisumuKSh 4.02 million
12. Mercedes ActrosKDM 009J2016Matrix Moves Ltd - Changamwe, MombasaKSh 3.85 million
13. Mercedes-Benz ActrosKDM 008F2016Matrix Moves Ltd - Changamwe, MombasaKSh 3.8 million
14. Mercedes-Benz ActrosKDN 048H2016Valley Auctioneers Yard-MembleyKSh 3.7 million
15. Mitubishi L200KDD 165R2019Phillips International Auctioneers Yard-KileleshwaKSh 3.65 million
16. Mitsubishi Fuso CanterKDQ 776G2023Phillips International Auctioneers Yard-KileleshwaKSh 3.05 million
17. Mercedes-Benz C200KCW 579W2018Starstruck Auctioneers Investments Yard-KiambuKSh 2.63 million
18. Mercedes-Benz Actros KDC 206X2015Bungoma Safe Keepers Yard-BungomaKSh 2.56 million
19. Mercedes-Benz GLAKDJ 088W2015Starstruck Auctioneers Investments Yard-KiambuKSh 2.38 million
20. Mazda Axela SportKDP 574E2016Valley Auctioneers Yard-MembleyKSh 1.1 million
21. Mazda DemioKDR 820L2017Phillips International Auctioneers Yard-KileleshwaKSh 1.05 million
22. Suzuki Swift SportsKDN 781K2016Starstruck Auctioneers Investments Yard-KiambuKSh 840,000

Which additional companies are selling vehicles through auctions?

In other news, NCBA Bank revealed an auction featuring 39 vehicles, with bids beginning at KSh 370,000.

The Kenya Wildlife Service will also be offering vehicles and additional items for sale in July 2025.

In another location, the Bank of Africa promoted the sale of Nissan Notes and additional vehicles.