The iconic 21 floor ICEA Building which has for 30 years graced the City’s skyline is now owned by Jomo Kenyatta University of Agriculture and Technology (JKUAT). The building situated along Kenyatta Avenue, Nairobi was initially owned by the ICEA Lion Group.
The Ksh. 1.85 billion investment which houses some of Nairobi’s major corporates like Hamilton Harrison & Mathews Advocates, Prudential Life Assurance Kenya Ltd, Kobil Petroleum Limited, AAR Health Services Limited, GNLD International Ltd, Standard Investment Bank, Kenstrel Capital (East Africa) Limited and the National Bank among others, was acquired by JKUAT on October 24, 2015, and has moved her CBD Campus from Pension Towers to occupy 11th to 14th floor.
Talking to Agritech News after a brief handing over ceremony held at ICEA building, Vice Chancellor Prof. Mabel Imbuga said the location of the facility would easily be accessed by most working class students wishing to further their studies on part time basis.
“The acquisition of the building comes at a time when there is an immense demand of Post-graduate studies especially in the field of Business and Information Technology (IT) related programmes. JKUAT hopes the purchase will be instrumental in filling this gap and strives to produce highly qualified individuals, consequently improving the economy of the country,” said the Vice Chancellor.
JKUAT – Nairobi CBD Campus Director, Dr. Florence Mwaura, said plans were underway to introduce new Post-graduate programmes such as Engineering, Public Health and Science based programmes at the Campus. Currently the campus has about 2,500 students.
Knight Frank, Executive Director, Mr. Maina Mwangi congratulated JKUAT for the venture and assured the University that the property was in excellent state. Knight Frank is the property management consultant firm that represented the ICEA Lion Group.
Besides being a strategic institutional move aimed at increasing access to JKUAT programs to the working student population within the City Centre and its environs, the acquisition of the ICEA Building comes at a time when Government funding to institutions of higher learning in Kenya has been declining over the years hence universities have had to explore viable and sustainable alternative ways of bridging the financial deficit occasioned by reduced government capitation in order to meet their financial obligations.
Those present during the handover ceremony were Deputy Vice Chancellor (Finance), Prof. Bernard Moirongo, Deputy Vice Chancellor (Administration) Prof. Victoria Ngumi, Deputy Director, Nairobi CBD Campus, Dr. Wario Guyo, Prof. Bernard Nyende and Prof. Abiero Gariy.