Nairobi, April 6 -- The National Assembly has approved an allocation of Sh1 billion to the National Treasury for the planned purchase of a multi-storey office block owned by Jubilee Holdings in Nairobi's central business district (CBD).

The building, known as Jubilee Insurance House, is located on Wabera Street in the Nairobi CBD and was vacated by the insurer about a year ago after it moved operations to a larger head office on Kilimanjaro Avenue in Upper Hill.

The National Assembly's Budget and Appropriations Committee (BAC) allocated the Sh1 billion as part of the Sh2.5 billion required to acquire the five-storey building, which is adjacent to City Hall, the headquarters of the Nairobi County government.

"Increase Sh1 billion for Ju...