A very knowledgeable and credible source who was close to the inner workings of the Kenyatta administration and then the Moi presidency as well has made a bombshell of a revelation into the way things have been run in Kenya for a long time.
Makes one wonder about the mysterious 5 per cent Safaricom ownership, does it not?
This is what they have told Kumekucha;
I know you are going on a 'corruption circus' of "Kenyatta Times" but that is too easy while also not being fair to some other major players. So allow me to give you some information you do not obviously don't have.
During the Jomo Kenyatta administration, foreign companies and Investors had to give away about 15 % of their shares to the Kenyatta Family (read very carefully: 'shares' in the Kenyan company being set up, Not money. Shares.)
That was a guarantee that among other things they would not have any problems when applying for import licenses, work permits etc.
Most companies willingly agreed—and that's still the basis of the Kenyatta Family Wealth today (Banks, Hotels, etc. etc.). This was corruption but it was "reasonable corruption" and made for thriving and positive business in Kenya with foreign investors pouring in in droves.
During Moi's first two years after assuming power, Moi and his most ambitious 'servant' (Nicholas Biwott) stuck to the Kenyatta rules. i.e. 15 % shares (I have seen letters and confirmations about this when Biwott was still Minister of State in the office of the President).
But then things changed. Somebody got greedy and soon it was not just shares but also cash here and mostly in foreign bank accounts as well.
And that was when things started going downhill and the bottom fell out in the end. At the end of it companies pulled out, licenses were cancelled and Kenya started threatening Nigeria's reputation for corruption. TOTALLY CORRUPTED .......... and the trail always, always led to two names only: Nicholas Biwott and Daniel arap Moi.
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