By Eldoret Leo 
Kenya’s High Court has ruled that Buzeki Enterprises Ltd, owned by businessman and politician Zedekiah Bundotich Kiprop, must pay Sh864.7 million to I&M Bank following a long-running commercial dispute.
The case revolved around a promissory note signed in 2016, which committed Buzeki Enterprises to repay the amount by November 30, 2016. The court found the document to be clear, unconditional, and legally binding, dismissing arguments that repayment depended on future business events.
The debt arose from a transaction involving the supply of more than 100 trucks and trailers, a deal valued at over Sh864 million. The promissory note issued by Buzeki Enterprises was later transferred to I&M Bank, making the lender the lawful holder and entitled to recover the funds once repayment failed.
Buzeki Enterprises argued that the payment was tied to the sale of Taru Ranch in Kwale County, but the court rejected this claim, stating that such conditions were not included in the written agreement and could not override the clear terms of the note.
The High Court of Kenya ordered the company to settle the full amount, including interest and legal costs. The ruling reinforces the importance of written financial agreements in Kenya and signals that courts will strictly enforce promissory notes as drafted.
