@actuarywahisa.. Which negative equity? Hio ni old news. KQ is now well capitalized.. In addition, the conversion price per share must have been agreed between GoK and KQ prior to the session paper approval while the stock traded about KES 7. Also recall that the same stock was bought by IFC, KLM & GoK just 4 years ago at KES 14 per share. In short, for now we must wait for the price circular on 20.07.2017, everything else is speculation

Reading that felt like a muchene session. I couldn't even finish it

All the findings are in the forensic report. What Nyakundi has written in the article is factual and even the personal issues brings out the lifestyle audit. It reinforces the findings already with KQ.

The second investigation by CID/EACC should be a lifestyle audit to corrobate the forensic audit and then arraign him in Court but this is Kenya.

Mbuvi and Mbugua were also involved especially in signing off documents for KQ to transact with Dubai bank. Ngunze has a brother in Commercial Bank of Africa. The reason why he signed off for KQ to deal with Dubai Bank without even reaching out to his brother tells you alot.

Why a low ranking Bank was selected to do business with KQ remains a misery. The signatories only knows the answer. When the forensic report was finally tabled before the Audit committee at the board level, it was very clear Ngunze was either involved or there was professiobal negligence on his part. MJ then turned around and asked him to exit the stage.

@obiero - True. But they must fix the internal control loopholes/weaknesses...or else someone will repeat the looting again...a repeated history can be very harsh.

For the optimists...what's KQ's estimated turnaround time(years) to profitability?

@winston months, not years.. KQ bottom line shall be black this H1