Company Name

Garam Investments Auctioneers

Year of Registration

17th March 1994

Postal Address

P.O Box 63279-00619, Nairobi

Physical Address

Western Heights, 5th Floor, Karuna Road
Westlands Nairobi

Storage Premises

Auto Gallery Ltd, Junction of Mvuli Road and Waiyaki Way, Westlands Nairobi

Storage Capacity

120 Motor vehicles (or 25 large Lorries) plus
1000 sq ft for moveable goods.

PS: Extra storage space is available elsewhere if required.

Telephone/Fax +254 20-2720470

Wireless: 020-2592949, 020-2592990 0722-715838, 0786-318663

Fax: +254 20 2720357

E-mail Address This email address is being protected from spambots. You need JavaScript enabled to view it./

Website: www.garam.co.ke


THE FIRM’S POLICY ON TURNAROUND TIME

At Garam Investments we endeavor to serve notices to debtors as soon as we get written instructions. We thereafter covertly market the property through our website and by getting in touch with prospects contained in our huge database, so that by the time we are selling the subject property/parcels success is always guaranteed.

THE FIRM’S POLICY ON FEES

All contracts with our clients are based on the rates outlined in the Auctioneers Act 1996 (CAP 5 of 1996) and Legal Notice 120 of 18th July 1997

CATEGORY OF LICENSE & JURISDICTION

Auctioneers License “Class B” covering Nairobi, Kajiado, Thika and Kiambu for execution of Court warrants and Distress for rent and country wide for Repossession, realization of charged securities and sale of goods on commission basis by Public Auction.

CONTACT PERSON FOR CLARIFICATION

Mr. Joseph Mungai Gikonyo (The Director/Licensed Auctioneer)

ORGANIZATIONAL STRUCTURE (OWNERSHIP)

Garam Investments was established in 1994 under the Business Name Act by Joseph Mungai Gikonyo who is the sole proprietor and licensed auctioneer.

Mr. Joseph Mungai Gikonyo completed his high school at the Starehe Boys Centre (famed for inculcating discipline, hard work, integrity, honesty and other positive ethics amongst its students) in 1982 and proceeded to pursue his university studies graduating with B.Sc. degree in Chemistry (1st class honors) in 1986 and an M.Sc. degree in Inorganic Chemistry (Upper 2nd class honours) in 1988.

Mr. Gikonyo then worked as a university lecturer in Egerton University and Jomo Kenyatta University of Agriculture and Technology. He presented several research findings and proposals both locally and internationally. Mr. Gikonyo has personally managed Garam Investments from its inception to the present day. He is the chief technical person at Garam Investments and is in charge of all matters relating to attachments, repossessions, distress, realizations and auctions.

He is fully licensed as an auctioneer and has a wealth of experience having practiced as an auctioneer for 22 (twenty two) years. Mr. Walter Odhiambo is also a licensed auctioneer and has been assisting Mr. Gikonyo for over 16 years. He also doubles up as the accountant. Mr. Adam Warunge Ng’ethe licensed auctioneer has been with Mr. Gikonyo for over 4 years.

Ms. Nancy Ndonye is the Personal Assistant/Secretary to Mr. Gikonyo and doubles as Manager as well. She has over 8 (Eight) years’ experience in the business of auctioneering.

Anne Magondu is the Marketing Manager Evans Moi is the Messenger and David Mwangao is the driver.


SERVICES OFFERED

  • Realization (Sale) of Charged Securities (immovable properties) by public auction.
  • Repossession of Chattels and disposal of the same by public auction.
  • Recovery of debts through warrants of attachment issued by court.
  • Recovery of Rent arrears through distress and sale by public auction
  • Sale of goods on behalf of clients by public auction
  • Disposal of boarded stores on behalf of government institutions, international NGOs, & parastatals

ABILITY TO COMPLY WITH DEMANDING STANDARDS

Our 22 years of experience in the auctioneering business makes us one of the best in this profession. The procedure we follow in carrying out the auctioneering and repossession business is strictly in accordance with the Auctioneers Act. We have never been cited either before the Auctioneers Licensing Board or Court for taking short cuts. We are able to get Break-in orders/Police assistance for difficult debtors and always act in the interest of our clients. We do not expose our clients to the Risk of being taken to court and are professionally indemnified by a reputable insurance company for Kshs20million. (See No. 12) In addition the company has three licensed auctioneers’ names Mr. Joseph Mungai Gikonyo, Mr. Walter Odhiambo and Mr. Adam Ng’ethe which makes us very effective in executing any task at hand.

DETAILS OF HOW QUALITY SERVICES, EFFECTIVENESS, EFFICIENCY AND INTEGRITY ARE ENSURED

As mentioned elsewhere the licensed auctioneer herein Mr. Joseph Mungai Gikonyo has 22 years of extensive hands on experience and has built a reputation for possessing all the qualities mentioned above. He never cut corners and adheres strictly to the provisions of the Auctioneers Act. Our client base speaks for itself (see addendum for list of clients and references) and we shall definitely not let you down. Mr. Joseph Mungai Gikonyo personally manages every aspect of the auctioneering/repossession work from the beginning till its completion. He is assisted by two (2) licensed auctioneers under his employment i.e Mr. Walter Odhiambo & Mr. Adam Ng’ethe.

DETAILS OF PROFESSIONAL INDEMNITY COVER (INSURANCE)

We have one (copy enclosed) for Kshs20 million with Kenya Orient Insurance Co. Limited. Please note that we can obtain one for a higher amount if the client requests. DETAILS OF OUR BANKERS Our bankers are Barclays Bank of Kenya Ltd (Hurlingham Branch) A/C No. 1092480 (office Account) and A/C No. 1092448 (Clients Account). We have enclosed a letter from them.


CERTIFICATIONS, ACCREDITATIONS, APPROVALS, AGENCIES & PARTNERSHIPS

We are licensed by the Auctioneers Licensing Board (copy enclosed) and are members of the National Association of Kenya Auctioneers (N.A.K.A), we are E.T.R certified, K.R.A tax compliant, N.S.S.F plus N.H.I.F contributors (see enclosed copies).

COUNTRYWIDE SERVICES

We hold a valid class ‘B’ license (certified copy available at your request) which enables us to operate throughout the country as we have been doing and are willing and able to continue doing so.

REPORTING

Mr. J. M. Gikonyo (the auctioneer) is available any time of the day through the office lines and personal mobile phone and will be more than willing to handle any queries by the bank/client.

(a) CAPABILITY STATEMENT

We have recently managed to sell a couple of properties at valuation price despite the harsh economic climate. Such properties had failed to get buyers in the hands of other auctioneers and the instructing clients had more or less given up on them. Amongst the reasons we can attribute to our success include our aggressive style of marketing which include distribution of thousands of handbills and posters by pasting on walls, trees, notice boards plus distribution to motorist’s and potential buyers and also through our website www.garam.co.ke

EXPERIENCE

For the last Twenty two (22) years we have been instructed by various financial institutions to realize a total of 4,630 (Four thousand, one hundred seventy two) different securities comprising agricultural, residential and commercial properties. In the year 2015 alone we raised a total of Kshs: 560million (five hundred and sixty million) through realization of charged securities, (details can be availed on request), on behalf of our clients. We have in addition carried out distress for rent on thousands of tenants and executed hundreds of warrants of attachment. We have also disposed of used motor vehicles and furniture plus scrap by public auction on behalf of Parastatals, the government and huge corporate entities. Our success rate has been very impressive and this can be confirmed by contacting any of the quoted clients/referees.

DATABASE

For the last 22 years in which we have been actively involved in auctioneering we have always opened a register for every auction sale that we have held comprising the names of bidders, their telephone contacts, email & postal addresses. The net result is that to date we have compiled an awesome database of hundreds of prospective purchasers which database we always log into as and when an auction sale arises. This database is categorized into three (3) sections i.e immovable property, motor vehicles and furniture/scrap.


Our Clients

NIC Bank Limited

Savings & Loan (K) Ltd

Post Bank Credit
Limited

Triple Advantage Cards
Limited

Barclays Bank of Kenya
Ltd.

Central Bank of Kenya
Ltd.

National Industrial
Credit Bank Ltd.

Hamilton Harrison &
Mathews Advocates

Savings & Loan (K) Ltd.

Giro Commercial Bank
Ltd.

ABC Bank

Mereka Rachuonyo &
Rachuonyo Amolo & Gacoka Advocates

Investments & Mortgages
Bank Ltd.

Cooperative Bank of
Kenya Ltd.

Equatorial
Commercial Bank Ltd.

Waruhiu & Gathuru
Advocates

National Bank of Kenya
Ltd.

Savings & Loan (K) Ltd

Industrial
Development Bank

Advocates & Co.
Advocates

Kenya Commercial Bank
Ltd

Daima Bank Ltd

Gulf African Bank

Ndungu Njoroge & Kwach
Advocates

Commercial Bank of Africa

Chartered Properties,
Integer Ltd

Jamii Bora Bank
Limited

PriceWaterHouseCoopers

Consolidated Bank of
Kenya

Wainaina Real Estates

Standard Chartered
Bank Limited

Oraro & Co. Advocates

Postbank Credit Limited

Realty Mart Limited

Bank of Africa Ltd

Waruhiu & Muite
Advocates

Kenya Commercial Bank
Ltd.

Investments & Mortgages
Bank,

Gulf African Bank

Iseme Kamau & Co.
Advocates

National Bank of Kenya
Ltd

National Bank of Kenya
Ltd.

K-Rep Bank Limited

Wainaina Ireri & Co.
Advocates

International Finance
Corporation (I.F.C)

CFC Bank Limited

Faulu Kenya Limited

Walker Kontos
Advocates

Credit Bank Limited

Madison Insurance

Equity Bank Limited

Njoroge Regeru & Co.
Advocates

Housing Finance Co. Ltd

Pan Africa Insurance
Company Ltd.

Family Bank Limited

Inamda & Inamda
Advocates

Industrial Development
Bank Ltd.

National Industrial Credit
Bank Ltd.

Britam Insurance Co.
Ltd

General Motors (K)
Limited

Housing Finance Co. Ltd

Credit Bank Limited

Real Insurance
Limited

Pan Africa Insurance
Company Savings & Loan
(K) Ltd

Kenya Commercial Bank
Ltd

Kenya Commercial Bank
Ltd.

Kenya Orient
Insurance Co. Ltd

High Court of Kenya Ltd

National Industrial Credit
Bank Ltd.

Estate Building Society
Limited

Cannon Assurance
Ltd

Giro Commercial Bank
Ltd


In addition we have levied distress for rent, carried out repossessions, sold goods/motor vehicles on commission basis under instructions from the under listed Estate Agents & Advocates.

Suburbia Limited

Kenya Revenue Authority
(KRA)

Gordas Agencies

Jordu Investments

Agrimode Realty Limited

Nairobi City Council

Kiragu & Mwangi
Limited

D. S. Kitaa & Co. Advocates

Wainaina Ireri & Co. Advocates

Deposit Protection Fund

Alliance Realtors
Limited

N. W. Realite Limited

Kimondo Mubea & Co. Advocates

Kenya College of
Communication and
Technology (KCCT)

Emm Consult
Limited

Tazama Development
Limited

Field-Marsham & Co.
Advocates

Raffman Dhanji Elms &
Virdee Advocates

Milestate Limited

Integer Limited

Shapley Barret & Co. Advocates

Ministry of Finance

Landmark Realtors

Central Bank of Kenya
Limited

Fortcom Consult Limited

Nzoia Sugar Company

National
Environment Management Authority (NEMA)

Kenya Railways

Muguga Investments

G4S Security Company (K) Ltd

International
Committee of Red
Cross (ICRC)

Kenya Railways Pension
Scheme

Joyland Estate Agents

Kenya Police

Action Against
Hunger (ACF International)

Government of Kenya

Metrocosmo Valuers Ltd.

Telkom (Orange) Kenya
Limited

Pinnacle
Development
Limited

Lloyd Masika Ltd

Gimco Limited

General Motors (K) Limited

Wamumbo
Enterprises

Suburbia Limited

Kyalo & Associates

Glaxosmith Kline (K) Limited

Sort masters
Properties Limited

Real Appraisal Limited

Office of the President

Aga Khan Hospital

Neema
Management
Limited

Njihia Muoka Rashid Co. Limited

Crystal Valuers Limited

Nairobi Homes Limited

Maxima Ventures
Limited


We have also auctioned goods on behalf of clients on a commission basis.

REFEREES

1. Auctioneers Licensing Board
Milimani Commercial Courts
P.O Box 30420
Nairobi
Tel: 2715622, 2715846

2. Mr. David Ireri
Wainaina Ireri & Co. Advocates
Bruce House, 4th Floor
P.O Box 42706
Nairobi
Tel: 317735, 242506, 247489

3. Mr. D. W. Wainaina
Wainaina Real Estates Hughes Building
1st Floor P.O Box 74194
Nairobi
Tel: 227207 / 224995

DETAILS OF OFFICE REPRESENTATION IN KENYA

We only have offices in Nairobi but this does not in any way diminish our capabilities of realizing charged securities countrywide.

We believe the above proposals will go a long way in convincing your prestigious institution to try our services. Please note that we come to you with (twenty two) 22 years of extensive practical experience.

We promise to undertake with minimum time, cost and honesty assignments given to us by you. We look forward to your favorable response.

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