Kosewe Ranalo Auctioned

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[SIZE=6]K’Osewe eatery owner sagging under debts, hotel faces auction[/SIZE]
By Brian Wasuna & Brian AmbaniOctober 28th, 2020 2 min read
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K’Osewe Ranalo restaurant. PHOTO | COURTESY

William Guda Osewe is not just another rags-to-riches story. He has grown into one of the pillars of Nairobi’s food culture, owing to his Ranalo Foods – popularly known as K’Osewe.
A five-kilogramme batch of shish kebab, better known in Kenya as mshikaki, that Mr Osewe sold to Kaloleni locals in the early 1970s became the foundation of the empire comprising eateries, a four-star hotel in Kisumu, a block of apartments in Nairobi’s South C and a home in Karen.
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Hawking of mshikaki evolved into an eatery under a tree in Kaloleni, which then turned into Ranalo Foods at Kenya Railways Central Station, before he moved to the former Cameo Cinema on Kenyatta Avenue, and finally to Kimathi Street.
Ranalo Foods opened other branches in Upper Hill and Kisumu.

Politicians, city dwellers and tourists throng the Kimathi Street branch to enjoy Mr Osewe’s famous food.
The icing Mr Osewe always wanted on his cake was a hotel. In September 2007, he incorporated Blue Waters Hotels Ltd, which would later own the Bluewaters Hotel in Kisumu.
Mr Osewe’s wife Stella and children Joseph, Staicy and Edward are shareholders in the hotel.
Bluewaters has signed franchising deals with Dubai’s Aleph Hospitality and American giant Marriott International.
Bluewaters is expected to join the prestigious league of Protea Hotels by Marriott in 2022.

But one of Kenya’s biggest success stories is now swimming in debt.
High Court Judge Thripsisa Cherere on Friday allowed Guaranty Trust Bank to sell Bluewaters Hotel, becoming the family’s second run-in with auctioneers in just two months.
At 10am on July 30, Bensure Auctioneers sold hundreds of items at Ranalo Foods Upper Hill, marking an end to the branch.
File cabinets, food warmers, cutlery, microwaves, gas cookers, freezers, furniture and many other items were sold.
Two days before the Bensure auction, the judge lifted an order that had stopped the bank from selling Bluewaters Hotel and the South C building.
[SIZE=5]Escaped death narrowly[/SIZE]
The Osewes owe Guaranty Trust Bank more than Sh328 million, secured using the Kisumu hotel and the South C building. The bank has been trying to auction the property since 2018.
Mr and Mrs Osewe sued to stop the bank from doing so, arguing that they have been servicing the loan.
After the judge lifted the order barring the auction of the properties, the couple filed an application in court, intending to appeal.
The Osewes argued that their property is valued at four times the loan. They added that the Kisumu hotel is on a prime beachfront and would be difficult to replace if the auction goes on.
They said adverse action on the Kisumu property would spell doom for their franchising deal with Marriott and Aleph.
Guaranty Trust Bank, however, insisted that the Osewes have defaulted on their loan and that they are only buying time with another court order barring the auction.
The bank said it is not a party to the franchising agreements.
“The plaintiffs/applicants did not demonstrate that the defendants/respondents would be unable to adequately pay them damages as may be ordered should the intended appeal succeed,” Justice Cherere said.
Mr Osewe’s fortunes have not been good in the last three years.
Shortly after opening the Ranalo Foods branch in Kisumu last year, it emerged that the restaurant was on Kenya Railways land. It was demolished but later reopened at another location.
In 2018, Mr Osewe escaped death narrowly when his friend Tom Oywa Mboya shot him three times. He underwent surgery at Aga Khan Hospital.

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[li]K’Osewe[/li][li]Ranalo[/li][li]William Guda Osewe[/li][/ul]
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2

Kuelewa biashara ni ngumu, this guy sells fish and almost everything at almost five times the cost and he had crazy sales. How can he be broke?

3

That’s sad, I hope he will pull through. CBD businesses seem to be struggling hata stalls in some streets ziko empty.

4

The house in Karen. Cashflow from such a business cannot cater to own and live in such a residence. Basically Ujaluo ghrama ilimumalisa.

I can bet my Left Nut he also owned a Guzzler to fit this Profile.

5

na pia kuweka tu yellow yellow kwa apartments from kilimani to ruaka !

6

Hapana hurumia yeye

7

Wah, jamaa alikuwa ameanza kuchezea ligi ya kina Marriott?! Hope he pulls through, but once auctioneers come knocking, it becomes a long hard road to recovery

8

Slay Queens and a big ego.

9

High Court Judge Thripsisa Cherere!!!

Gosh, did Western Kenya run out of names:)

10

Which part of Western Kenya is the judge from?

11

Several guzzlers

12

Jaruos and business sijui nini huwa mbaya. Good in management but poor in vision and money control.

13

Hii ndio pepo inafanyanga uwe impressed by wheelbarrow merchants…and other scum. Usifurahie misfortune ya mtu anatafuta riziki kihalali…karma 101

14

Umbea tu…has he F’d you or any of the dufuses in your circle with his big whatever…anyway, great strides attract aspersions from the mediocre. Nothing to see here

15

If he had the brilliant brains to build one empire, he will surely build another one.

16

Kijana yake alikua anasomea UK and he used to roll with footballers who are on 50,000 pounds a week.
He used to get hefty pocket money to live that 1% lifestyle in London. Lazima biashara ingeanguka

17

post zangu zote mmi nasema kula sumni weka sumni. madeni ni ya nni? unahurumiaje mtu anakula pesa ya wengine bila kulipa?

18

Mediocre ni mamako. He was shot 3 times by his friend called Mboya over a slay queen. And I said big ego not big shtick. Read things properly b4 you resort to insults.

If he was so brilliant as you say, he would know borrowing money from a bank to do anything is a no no. He could have looked for partial investors and saved up enough to purchase cash. That’s what my mediocre dufuses and I do. I have not bought anything on loans. And my portfolio beats yours.

If you read the article, his hotel will be or has already been auctioned for a quarter of its actual value. That’s why my mediocre friends and I don’t take bank loans no matter how lucrative an opportunity may be. If you cannot afford to pay cash or collaborate with other investors, simply do not buy.

As admin puts it, this man has been making money hand over fist and he had no reason to be auctioned. If at my age I know bank loans are a no go zone, what about him at atleast 60? Hasn’t he seen wakina mama oliech RIP and others, being auctioned by banks Imagine losing everything at that age?

Of course being someone who doesn’t understand how banks capitalism on loans and auction people at a fraction of the cost of the property, I don’t expect your pea sized brain to understand. Luos don’t manage their funds well bcz of big egos and womanizing. Even an unborn child knows that. They should learn a thing or two from Kikuyu who live frugal in spite of having tons of money with no bank loans.

Lemme advice you because you don’t appear to be very smart. Don’t take bank loans, mortgages or any other forms of large credit. Save and buy what you need to buy. People do it all the time. I am a witness. If it’s a large investment look for shareholders to buy percentage of the investment that you can not afford. That’s what smart folk do Mr. Nothing to see here. :smiley:

19

He spread himself thin. He could have secured the beach plot then built pole pole hakuna pahali Marriott and Oriental zinaenda. If even his restaurants in CBD and Upper hill are auctioned his cash flow will be hampered greatly.

20

And if you insult me again I will block you, mimi sio Malaya kama mamako to be ferked by old men for money. Your pedestrian brain won’t allow you to see women in any other way than as prostitutes all bcz your mother is one. Don’t associate me with such lifestyles. I live a very clean man free life and my friends do not make big purchases on loans. They save and buy. What is it that that geezer Ranalo can offer me that I can’t offer myself or don’t already have?