Finsco Africa, a real estate company led by Kiambu gubernatorial aspirant John Mwaura, is facing mounting complaints from investors over land transactions at Thika Groove Chania Estate, with one buyer demanding a KSh4.9 million refund and another alleging failure to disclose critical information before collecting millions of shillings.
The complaints have brought renewed attention to the company’s handling of property buyers, including allegations of delayed refunds, undisclosed charges, challenges obtaining building approvals and questions over infrastructure development at the estate.
Frank Njuguna is accusing Finsco Africa of selling his Plot No. H41 at Thika Groove Chania without his consent and failing to return the money he had invested.
Njuguna maintains that he paid KSh4.9 million towards the purchase of the property but has been left without the plot or his money following the company’s decision to repossess it.
He further claims that Finsco has repeatedly taken him through engagements and promised to refund his money, but the assurances have not resulted in payment.
However, Finsco Africa disputes the amount claimed by Njuguna, saying its records indicate that he paid KSh4,076,292, approximately KSh4.07 million.
In its official response to an inquiry, the company attributed the repossession to what it described as prolonged default on instalment payments, claiming Njuguna remained in arrears for more than one year despite repeated reminders through telephone calls and emails.
Finsco said it issued written communication on December 17, 2025, informing him of its position and intention to exercise contractual rights, including revoking the sale where applicable under the purchase agreement.
The company further stated that its Key Account Manager had communicated with Njuguna, while Chief Executive Officer John Mwaura personally called him on December 23, 2025, to explain the repossession decision.
Finsco maintained that the plot had not been registered in Njuguna’s name at the time, explaining that title processing is undertaken after a buyer fulfils financial and contractual obligations, including payment of the purchase price, infrastructure fees, legal fees and applicable stamp duty.
On the refund, the company acknowledged receiving formal requests from Njuguna and apologised for failing to process the payment within the anticipated period.
It attributed the delay to internal financial processing involving its bank, saying the refund had been initiated through the banking system but remained pending.
Finsco indicated that the outstanding refund was expected to fall due on November 6, 2026, subject to banking and payment processing. However, that date has passed, with Njuguna maintaining that he is yet to receive his money.
Another investor raises concerns over undisclosed charges and building approvals
In a separate complaint, Lucy M. Jeffrey through her social has also demanded a refund from Finsco Africa, accusing the company of failing to disclose important information about Thika Groove Chania Estate before she committed millions of shillings to the project.
In a detailed Facebook post, Jeffrey said she had paid the company KSh3.98 million, alongside other expenses, but was now seeking a way out of the investment after discovering what she described as undisclosed charges, challenges with building approvals and delays in obtaining property documentation.
She maintained that she would not have proceeded with the purchase had the company disclosed the additional financial obligations and development challenges before accepting her money.
Jeffrey said she initially paid KSh3.2 million as a down payment without being informed about the extra charges and alleged difficulties involving Murang’a County’s approval of building plans and issuance of titles.
She further claimed that the company moved her from Phase Three to Phase Two without fully explaining the implications of the change, including the challenges she says buyers continued to face in obtaining construction approvals.
The buyer put her total expenditure at KSh5,153,000, comprising payments to the company, transfer charges, travel expenses, payments for architectural plans and other related costs.
She also questioned why her sale agreement remained unsigned despite the payments, arguing that the company should have disclosed all additional charges and obligations before accepting her money.
Jeffrey accused the company of repeatedly focusing on her social media posts instead of addressing her concerns, insisting that she and other buyers deserved clear answers and refunds where transactions could not proceed as expected.
She also claimed that she had joined a group of diaspora buyers discussing their experiences and possible legal action to recover their money.
Her complaint adds to Njuguna’s separate refund dispute, with both investors questioning the handling of money paid towards properties at Thika Groove Chania Estate.
While Finsco Africa has acknowledged Njuguna’s refund request and explained its position on the repossession of Plot H41, its earlier response did not address Jeffrey’s separate refund demand and allegations.
Mwaura’s company faces questions over investor confidence
The complaints place Finsco Africa and its leadership under scrutiny over how buyers are informed about contractual obligations, additional costs, title processing and the development status of properties before committing their money.
Mwaura, who is eyeing the Kiambu gubernatorial seat on a Democracy for the Citizens Party (DCP) ticket, is the chief executive of the company.
While Finsco has provided an explanation for the repossession and refund dispute involving Njuguna, its response did not address Jeffrey’s separate allegations concerning undisclosed charges, building approvals, infrastructure development and the unsigned sale agreement.
The company has apologised for the delay in processing Njuguna’s refund and said it remains committed to fair business practices and an amicable resolution.
For the two buyers, however, the central issues remain unresolved: the return of money paid towards the property, transparency over the terms of purchase and clarity on whether buyers can obtain the necessary approvals to develop their plots.