In a major setback for prominent Eldoret businessman Zedekiah Kiprop Bundotich, popularly known as Buzeki, the High Court has cleared the path for I&M Bank to recover a staggering Sh864.7 million from his logistics firm, Buzeki Enterprises Limited.
Delivered on February 13, 2026, by Justice H. Namisi in Nairobi’s Milimani Commercial Courts, the ruling enforces a 2016 promissory note and dismisses Buzeki’s defenses, reinforcing the unbreakable power of signed financial commitments in Kenyan law.
The saga stems from a 2016 transaction where Buzeki Enterprises acquired heavy trucks and trailers worth over Sh864 million from RT (East Africa) Limited. To facilitate the deal, the company issued an unconditional promissory note promising repayment by November 30, 2016. When payment never arrived, RT assigned the note to I&M Bank as security, and the lender advanced funds against it.
By 2019, I&M Bank launched legal action to recover the unpaid amount. Buzeki Enterprises countered that the debt was conditional on the sale of his Taru Ranch in Kwale County—a deal that fell through. The court rejected this argument outright, describing the promissory note as “pristine” and unconditional. Justice Namisi slammed attempts to introduce oral side agreements as “litigation by ambush,” insisting that written instruments must take precedence.
The judgment awards I&M Bank the full principal of Sh864,758,278, plus interest at court rates from the filing date and full legal costs—enforceable without delay.
Buzeki, the self-made magnate who rose from selling milk on a bicycle for Sh80 a day in the 1990s to building empires in dairy and logistics, is no stranger to high-stakes business. He famously sold his Molo Milk and Kilifi Gold brands to Brookside Dairy in a landmark deal before pivoting to a fleet-heavy transport operation with over 100 trucks.
A two-time aspirant for Uasin Gishu governor (in 2017 and 2022), Buzeki has cultivated a public image as a philanthropist and chopper-flying entrepreneur. However, previous debt disputes—including a 2020 revelation of Sh2.7 billion owed to NCBA Bank tied to truck securities—have hinted at mounting pressures on his enterprises.
Legal analysts view this decision as a strong reminder of the “sanctity of the signature” in commercial contracts, likely influencing how banks pursue defaulted obligations moving forward.
As Buzeki faces this hefty financial hit, questions swirl: Can the Eldoret powerhouse restructure and rebound, or will this mark a turning point for his sprawling empire? Kenya’s business community is watching closely.
