The disposal of these Kenyan
public assets was riddled
with overt corruption mainly
through gross undervaluing of
the entities. Coincidentally, at
the epicenter of the
privatization exercise in the
late 90s, early 2000s was
Nicholas Biwott’s daughter,
Ms. Esther Koimett, the then
and still current Investment
Secretary -whom Kibaki
found prudent to serve as
Kenya’s new Investment
Secretary thanks to his
renewed political dalliance
with Nicholas Biwott.
In 2000/1 Esther Koimet
almost facilitated the sale of
Kenya-Re ( a public asset) to
Zim-Re (of Zimbabwe ) in
partnership with Monarch
Insurance (owned by Gideon
Moi) for less than one-third
it's value. Gideon Moi and his
shielders Zim-Re of
Zimbabwe almost bought
the entire Kenya-Re for 800
million shillings when it was
valued at more than 2.5
billion shillings in 2001.
Who halted the sale? After
the Parliamentary Investment
Committee (PIC) failed to
stop the sale on procedural
grounds, three MPs filed a
successful court injunction
blocking the sale: Prof.
Anyang Nyongo, Wafula
Wamunyinyi and Musikari
Kombo. The ruling was made
by Justice Hayanga.http://
www.nationaudio.com/News/Dail...usiness65.html
Thanks to the three MPs, we
were luckily to have survived
the transfer of Kenya Re into
the hands of Gideon Moi in
exchange of ten pieces of
silver.
TULIA.........UFUNZWE!