Irrefutable evidence showing that CHINA SQUARE is owned by a Kenyan – CHENG LEI only owns 1 percent
Thursday, March 2, 2023 – Fresh details have emerged over the ownership of the controversial China Square Supermarket that is located at Unicity Mall along Thika Super Highway.
The popular supermarket sells a variety of goods imported from China at relatively cheaper rates compared to local retailers.
The mall has also attracted the attention of Trade and Investment Cabinet Secretary Moses Kuria, who recently threatened to shut it down claiming it is hurting local businesses.
With all the conversation around it, questions have emerged over who owns China Square.
According to company registry (CR12) documents, Cheng Lie who claims to own the supermarket has only 1 percent ownership.
The remaining 99 percent of the store is owned by Fujian Festar Holding Limited, a company registered in Kenya.
China Square is currently under investigation, with the latest twist being that officials from the Anti-Counterfeit Authority (ACA) are looking into a case involving goods worth KES 50 million from the store that have been alleged of intellectual property infringement and counterfeit products.
Here is a document from the State Law Office showing that Lei Cheng owns only 1 percent and the rest by Kenyans.
The Kenyan DAILY POST.
About The Author
