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The Rot at Housing Finance Bank

Housing Finance CEO Robert Kibaara

Housing Finance CEO Robert Kibaara

It’s a story that will leave you reeling.

A financial institution plagued with a toxic culture, corrupt practices, and mismanagement at the highest levels.

For years, Housing Finance has faced numerous scandals, but the management has refused to address them, leaving the employees to suffer in silence.

But one insider, a former employee of the bank, has decided to speak out.

“I couldn’t take it anymore,” the anonymous source, who spent two years at the company, wrote to this blog on Saturday, January 21, 2022.

“As a salesperson, I was forced out after slightly over a year, after I refused to engage in any activities that could jeopardize my career.”

The source goes on to reveal a culture of corruption and misappropriation of funds, with senior managers at the helm of it all.

“It was like a cancer spreading through the company,” said the insider.

“And it’s not just financial corruption, there are even allegations of sexual harassment among the female staff at the headquarters, but many were too afraid to speak out.”

The source also alleged that his dismissal was due to a falling out with the Director of Housing Finance Development and Investment Limited, Joseph Kamau, who is described as a bully and an oppressor of his juniors.

Joseph Kamau, the Executive Director HFDI at HF Group

Joseph Kamau, the Executive Director HFDI at HF Group

The staff turnover at the company is alarmingly high, with dozens of employees leaving in the past two years, either sacked or resigning due to the toxic work environment.

The worst-affected branch is the Rehani House Branch, where Kamau and the CEO, Robert Kibaara, are based.

The CEO, in particular, has been criticized for not taking action to improve the situation within the company and for being indecisive.

Buyers at Richland Pointe and Komarock Heights have also been greatly affected by Kamau’s actions, who is a drunkard that fights with the owners to take control of services in the estates.

The estates themselves are in a sorry state, with no repairs or paint work being conducted, and the owners are now threatening to sue the company.

The nearby Lifestyle Heights is now being seen as a better option by many.

“The situation at Housing Finance is dire, and it is a shame that the company has been allowed to deteriorate to such an extent, with the CEO, Robert Kibaara, and the Director of HF Development and Investment Limited, Joseph Kamau, being at the center of the blame,” the source adds.

As an advocate for workers’ rights, it is disheartening to hear the stories of corruption and mistreatment at Housing Finance.

The allegations made by the anonymous insider are serious and cannot be ignored.

The management must take immediate action to address these issues and ensure the safety and well-being of its employees.

It is also imperative that relevant authorities, such as the financial regulator, take a closer look at the matter.

Despite endless similar cases against Housing Finance, they have remained silent.

It raises serious questions of whether they have been “pocketed” to stay quiet, and if so, it is a gross violation of the public trust.

This blog will keep a close eye on this story and will continue to investigate and report on the situation at Housing Finance.

It is important that these allegations are not brushed under the rug and that the necessary action is taken to hold those responsible accountable.

We cannot stand by and watch as those in power mistreat and exploit workers.


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