In Summary
  • Kabusha Investments (PTY) Ltd, trading as Stag African, is expected to design, finance and build a 3,000-bed ultra-modern hostel at its Thika Campus.
  • The university will “provide Stag African with the site layout diagram(s) of the proposed site(s) for the development”, all the necessary documentation and land for the development.

Mount Kenya University (MKU) has signed a memorandum of understanding with a South African property developer to put up a 3,000-bed ultra-modern hostel at its Thika Campus.

Kabusha Investments (PTY) Ltd, trading as Stag African, is expected to design, finance and build the facility.

The company will then operate the hostel for a period the two parties will agree upon and later transfer it to the university. The company is based in Cape Town.

DEVELOPMENT

The university will “provide Stag African with the site layout diagram(s) of the proposed site(s) for the development”, all the necessary documentation and land for the development.

In a memo to the university council chairperson, the board of directors chairman Simon Gicharu said a team from Stag African will visit MKU between August 12-18 and tour the project site as well as sign the venture agreement. Officials from the university toured South Africa last month “to lay a foundation for the joint venture partnership”.

Education Secretary George Magoha supported for the project, saying it was in line with the Big Four agenda.

Page 1 of 2