- EDITORIAL BRIEF: The lack of clarity on the identities of the individuals who negotiated the buyback of Telkom Kenya has left the National Assembly frustrated. The lawmakers are seeking to determine the individuals responsible for approving the deal and whether the government got value for money in the transaction. Despite the controversy surrounding the sale, it is clear that the buyback was approved at the highest levels of government. The case highlights the need for greater transparency and accountability in the government’s dealings with state-owned enterprises.
The National Assembly is currently investigating the controversial buyback of Telkom Kenya for Sh6.2 billion by the government, but the identities of the individuals who negotiated the deal remain unknown, much to the frustration of the lawmakers. The former National Treasury Cabinet Secretary Ukur Yatani, Principal Secretary Dr Julius Muia, former acting Director-General Public Investments and Portfolio Management Stanley Kamau, current Director-General Accounting Services and Quality Assurance at the National Treasury Bernard Ndung’u, and former ICT Cabinet Secretary Joe Mucheru have all appeared before the committees probing the sale.
However, none of them have admitted to negotiating with Helios Investors LLP, which received the payment through Jamhuri Holdings Limited on behalf of the government. While appearing before the committee, Yatani stated that the buyback deal was approved by the National Security Council. Muia, on the other hand, forwarded the approvals to the PIPM directorate.
Kamau denied negotiating on behalf of the government, and Ndung’u claimed that he was not competent to answer the question. In his appearance, former Head of Civil Service and acting Secretary to the Cabinet Dr Joseph Kinyua stated that the National Treasury had a team that advised Yatani on the way forward.
The lack of clarity on the identities of the individuals who negotiated the deal has left the National Assembly frustrated. The lawmakers are seeking to determine the individuals responsible for approving the deal and whether the government got value for money in the transaction. The buyback of Telkom Kenya has been controversial since it was first announced.
Some critics have claimed that the government overpaid for the company, while others have questioned the transparency of the deal.
Despite the lack of clarity on the individuals who negotiated the deal, it is clear that the buyback was approved at the highest levels of government. Yatani’s statement that the deal was approved by the National Security Council suggests that it had the backing of President Uhuru Kenyatta’s administration.
However, the lawmakers are keen to determine the specific individuals who were responsible for negotiating the terms of the deal.
The controversy surrounding the buyback of Telkom Kenya is not the first time that the Kenyan government has come under scrutiny for its handling of state-owned enterprises. In recent years, there have been several high-profile cases of corruption and mismanagement in government-run enterprises, including the National Cereals and Produce Board, the National Hospital Insurance Fund, and the National Youth Service.
The Kenyan government has taken steps to address these issues, including the creation of the Public Procurement Oversight Authority, the Ethics and Anti-Corruption Commission, and the Office of the Auditor-General. However, the Telkom Kenya buyback highlights the need for greater transparency and accountability in the government’s dealings with state-owned enterprises.
