Debts, fam­ily feuds take heavy toll on ty­coon’s health

The Star (Kenya) - - Counties Coast -

Mom­basa ty­coon Tahir Sheikh, pop­u­larly known as TSS, ap­pears to be worn down by debts and fights for wealth among his sons and other fam­ily mem­bers. The prob­lem ap­pears to have taken a toll on his health. Sheikh (pic­tured) has been in and out of Kenya for med­i­cal at­ten­tion. Re­cently, the Star es­tab­lished he was ad­mit­ted at the Aga Khan Hos­pi­tal, Nairobi. Sources have re­vealed Sheikh has re­fused to take med­i­ca­tion pre­scribed by his doc­tor. Re­cently, he ob­tained re­strain­ing or­ders from the court stop­ping the Bank of Africa from for­feit­ing his as­sets over a Sh 1 bil­lion loan. Sheikh blamed his fi­nan­cial prob­lems on his sons and brother-in­law. The or­ders also stop the bank from ac­cess­ing as­sets of his other firms re­lated to the one that had taken out the loan. The bank wanted to ac­cess as­sets owned by TSS Trans­porters Ltd and TSS In­vest­ments Ltd, while the loan was taken out by a re­lated firm called Juja Cof­fee Ex­porters Ltd. Five parcels of land in Mom­basa, reg­is­tered in the names TSS Trans­porters Ltd and TSS In­vest­ments Ltd, are cited in the suit. In May, TSS Unga Millers was taken by the Kenya Com­mer­cial Bank over a more than Sh1 bil­lion loan. KCB, which has more than Sh1 bil­lion non­per­form­ing loans with TSS Unga Millers, is­sued a no­tice in May, in­di­cat­ing it had taken over op­er­a­tion of the miller. Sheikh is said to have Sh8 bil­lion in non-per­form­ing loans with sev­eral banks, booked un­der sub­sidiaries in his busi­ness em­pire. Ef­forts to reach his fam­ily were un­suc­cess­ful.

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