The shame of the Anglo leasing payments...cry my beloved country!!!

[Bantugbro]

POSTED SATURDAY, MAY 24, 2014 | BY- ANDREW TEYIE


Fear of losing out on gas deal with Qatar led to Sh1.4bn payout

A gas deal worth US$1 billion between Kenya and Qatar forced President Uhuru Kenyatta to use his

PHOTO | PSCU The Managing Director and Chief Executive Officer of Qatar Investment/Holdings, Ahmad Mohamed Al Sayed introduces members of his delegation to President Uhuru Kenyatta when they called on him at his residential hotel in Doha.

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According to US$1 billion cheap gas deal with Qatar, Kenya will import 1 million metric tonnes of natural gas from Qatar to run 700 megawatt power plants in Mombasa and Lamu. The power plants will add 5,000 megawatts to the national grid.

Under the agreements negotiated by Mr Rotich and Energy Cabinet Secretary Davis Chirchir, Kenya will convert gas to electricity at less than 10 cents per kilowatt/hour. This is a fraction of the current electricity generation of 25 cents per kilowatt/hour.
Fear of losing out on gas deal with Qatar led to Sh1.4bn payout

Numbers don't add up....

 

[Geza Ulole]

Numbers don't add up....

this Jubilee Govt has every excuse for every wrong doing! Remember inflated SGR tender by Chinese? reason was to outbeat Tanzania! Now again the Anglo leasing payment reason is to secure a US$ 1 billion from Qatar gas deal!

 

[waltham]

this Jubilee Govt has every excuse for every wrong doing! Remember inflated SGR tender by Chinese? reason was to outbeat Tanzania! Now again the Anglo leasing payment reason is to secure a US$ 1 billion from Qatar gas deal!

WHAT'S THAT IN RED ABOVE.
AND IS THIS CHANGE YA CHAI NA CHAPATI
How $270-million IPTL deal was planned and executed

“In facts Section 57 of the Companies Act of Mainland Tanzania prohibits companies in the country to use their own funds to fund the purchase of own shares or give loans to shareholders to pay for the acquisition of their shares.”PHOTO|FILE
By The Citizen Reporters

Posted Tuesday, March 4 2014 at 00:00
In Summary
“We refer to the discussions held between you and the undersigned in connection with the above subject…as desired by you, we hereby submit Mechmar’s proposal for your consideration,” reads part of the letter.






Dar es Salaam. The controversial Independent Power Tanzania Ltd (IPTL) takeover deal that involved part of some $270 million from an escrow account was initiated on August 11, 2010, The Citizen can reveal today.

An escrow account is a financial instrument held by a third party on behalf of two others in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions or until obligations have been fulfilled.

Since the two parties, Tanesco and IPTL were involved in a legal tussle in Washington-based tribunal, it was then agreed that an escrow account be opened at the BoT—and Tanesco deposited all payments mean for IPTL pending the determination of the main civil cause in USA.

Some of the key conditions for this escrow account was that if Tanesco wins the case, it would be refunded the extra payments it has made, after an appropriate calculation, agreed by both parties, as directed by

Washington-based tribunal.

According to investigation conducted by The Citizen, the plan was supposed to be executed before the General Election, but was shelved due to what was termed “technical issues”.

Mechmar Corporation (Malaysia) Behard, which used to own 70 per cent of IPTL shares, wrote a letter to former permanent secretary for the Energy and Minerals, David Jairo, proposing that the company’s share be transferred or sold to a company chosen by the government.

The letter was signed by the company’s managing director, Mr Datuk Baharuden Majid, according to details obtained by The Citizen.

“We refer to the discussions held between you and the undersigned in connection with the above subject…as desired by you, we hereby submit Mechmar’s proposal for your consideration,” reads part of the letter.

It further reads: “Mechmar Corp is willing to sell its shares in IPTL to the government of Tanzania or Tanesco or any other entity nominated by the government…Merchmar Corp will also simultaneously assign all its rights in respect of the shareholder loan.”

Mr Majid also adds in his letter: “Merchmar Corp will take such steps and execute such documents or may be required to assuage the concerns of the government of Tanzania in relation to claims of other parties.”

He goes on: “Merchmar Corp will also give an irrevocable undertaking to cooperate and assist the government of Tanzania as well as Tanesco in resisting and defending against any such claims and to assert its own claims.” In the one-page letter, of which The Citizen obtained a copy, Mr Majid further states that his company would be happy to discuss the aspects mentioned above and negotiate the amount of composite.

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[Dr. Job]

​

 

[Dr. Job]

WHAT'S THAT IN RED ABOVE.
AND IS THIS CHANGE YA CHAI NA CHAPATI
How $270-million IPTL deal was planned and executed

"In facts Section 57 of the Companies Act of Mainland Tanzania prohibits companies in the country to use their own funds to fund the purchase of own shares or give loans to shareholders to pay for the acquisition of their shares."PHOTO|FILE
By The Citizen Reporters

Posted Tuesday, March 4 2014 at 00:00
In Summary
"We refer to the discussions held between you and the undersigned in connection with the above subject…as desired by you, we hereby submit Mechmar's proposal for your consideration," reads part of the letter.






Dar es Salaam. The controversial Independent Power Tanzania Ltd (IPTL) takeover deal that involved part of some $270 million from an escrow account was initiated on August 11, 2010, The Citizen can reveal today.

An escrow account is a financial instrument held by a third party on behalf of two others in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions or until obligations have been fulfilled.

Since the two parties, Tanesco and IPTL were involved in a legal tussle in Washington-based tribunal, it was then agreed that an escrow account be opened at the BoT-and Tanesco deposited all payments mean for IPTL pending the determination of the main civil cause in USA.

Some of the key conditions for this escrow account was that if Tanesco wins the case, it would be refunded the extra payments it has made, after an appropriate calculation, agreed by both parties, as directed by

Washington-based tribunal.

According to investigation conducted by The Citizen, the plan was supposed to be executed before the General Election, but was shelved due to what was termed "technical issues".

Mechmar Corporation (Malaysia) Behard, which used to own 70 per cent of IPTL shares, wrote a letter to former permanent secretary for the Energy and Minerals, David Jairo, proposing that the company's share be transferred or sold to a company chosen by the government.

The letter was signed by the company's managing director, Mr Datuk Baharuden Majid, according to details obtained by The Citizen.

"We refer to the discussions held between you and the undersigned in connection with the above subject…as desired by you, we hereby submit Mechmar's proposal for your consideration," reads part of the letter.

It further reads: "Mechmar Corp is willing to sell its shares in IPTL to the government of Tanzania or Tanesco or any other entity nominated by the government…Merchmar Corp will also simultaneously assign all its rights in respect of the shareholder loan."

Mr Majid also adds in his letter: "Merchmar Corp will take such steps and execute such documents or may be required to assuage the concerns of the government of Tanzania in relation to claims of other parties."

He goes on: "Merchmar Corp will also give an irrevocable undertaking to cooperate and assist the government of Tanzania as well as Tanesco in resisting and defending against any such claims and to assert its own claims." In the one-page letter, of which The Citizen obtained a copy, Mr Majid further states that his company would be happy to discuss the aspects mentioned above and negotiate the amount of composite.

1 | 2 | 3 Next Page»

Mate, keep this thing Kenyan...this business of piggybacking Tanzanian articles when you are confronted
by issues digresses our threads. If you have issues with Tanzanians its best you post in the forums that
are relevant....like Jukwa la Siasa and the like.

Just an advice.

 

[Dr. Job]

this Jubilee Govt has every excuse for every wrong doing! Remember inflated SGR tender by Chinese? reason was to outbeat Tanzania! Now again the Anglo leasing payment reason is to secure a US$ 1 billion from Qatar gas deal!

My country is being sold to the highest bidder...Nigerians are also lined up in the wings waiting for the Turkana oil which is being auctioned without involving the locals.

Sad state of affairs if you ask me.

 

[waltham]

My country is being sold to the highest bidder...Nigerians are also lined up in the wings waiting for the Turkana oil which is being auctioned without involving the locals.

Sad state of affairs if you ask me.

Lissu awataja mawaziri, wabunge walioomba fedha

Dodoma. Mbunge wa Singida Mashariki (Chadema), Tundu Lissu amewataja kwa majina mawaziri na wabunge aliosema bungeni kuwa wamekuwa ombaomba katika mifuko ya hifadhi ya jamii.

Baadhi ya waliotajwa ni pamoja na Mbunge wa Kongwa ambaye pia ni Naibu Spika, Job Ndugai; Waziri wa Nchi Ofisi ya Waziri Mkuu (Sera na Uratibu wa Bunge), William Lukuvi; Naibu Waziri wa Katiba na Sheria, Angela Kairuki na Naibu Waziri wa Maendeleo ya Jamii, Jinsia na Watoto, Pindi Chana na wabunge Betty Machangu (Viti Maalumu), Livingstone Lusinde (Mtera), John Komba (Mbinga Magharibi), Eugen Mwaiposa (Ukonga) na Gudluck Ole Medeye (Arumeru Magharibi).

Hata hivyo, gazeti hili halijawataja majina mawaziri na wabunge wengine waliomo kwenye orodha hiyo ya Lissu kwa kuwa hawakupatikana jana kujibu tuhuma hizo.

Mbali na kuwataja kwa majina, Lissu pia ametoa vielelezo vinavyoonyesha jinsi walivyokuwa wakiidhinishiwa malipo kwa nyakati tofauti na Mfuko wa Pensheni kwa Wafanyakazi wa Serikali za Mitaa (LAPF), kwa sababu mbalimbali.

Lissu alimwambia mwandishi wetu jana kuwa licha ya kiwango cha fedha kutokuwa kikubwa, lakini kinaweza kusababisha mgongano wa kimasilahi kati ya wajibu wa wabunge kwa umma na masilahi yao binafsi.

"Hali hii inaweza kusababisha Bunge likashindwa kutimiza wajibu wake wa kikatiba wa kuisimamia Serikali na taasisi zake," alisema Lissu huku akisisitiza azimio lake la kuwasilisha hoja binafsi kwa Spika wa Bunge ili iundwe tume kuchunguza suala hilo.

Mkurugenzi Mkuu wa LAPF, Eliud Sanga jana alikiri kuwa shirika hilo liliidhinisha malipo kwa mawaziri na wabunge hao kwa ajili ya shughuli mbalimbali za maendeleo.

Hata hivyo, alisema shirika hilo halitoi fedha taslimu, bali hununua vitu ambavyo viliombwa na viongozi hao kwa ajili ya kusaidia wananchi na si kufanya biashara.

Sakata lenyewe

Akizungumzia jinsi mawaziri na wabunge hao walivyosaidiwa, Lissu alisema LAPF ilitoa Sh2.5 milioni kwa ajili ya mradi wa madarasa Jimbo la Kongwa linaloongozwa na Ndugai.

Alipoulizwa kuhusu madai hayo, Ndugai alisema hakuna tatizo lolote kwa mbunge kupewa msaada na mfuko wa kijamii.

"Huyo Lissu ana upungufu mkubwa. Hivi LAPF ikisaidia Sh2 milioni kwa ujenzi wa darasa unaogharimu Sh10 milioni ni tatizo hilo? Nchi hii inakwenda wapi jamani, siyo kila kitu wanachozungumza wapinzani ni hoja, kama LAPF wangekuwa wanatoa fedha lingekuwa tatizo lakini wanasaidia vifaa tu."

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• Kipanya Leo

Kp Mei



Kipanya April

Kp Machi

KP Feb

 

[Dr. Job]

Lissu awataja mawaziri, wabunge walioomba fedha

Dodoma. Mbunge wa Singida Mashariki (Chadema), Tundu Lissu amewataja kwa majina mawaziri na wabunge aliosema bungeni kuwa wamekuwa ombaomba katika mifuko ya hifadhi ya jamii.

Baadhi ya waliotajwa ni pamoja na Mbunge wa Kongwa ambaye pia ni Naibu Spika, Job Ndugai; Waziri wa Nchi Ofisi ya Waziri Mkuu (Sera na Uratibu wa Bunge), William Lukuvi; Naibu Waziri wa Katiba na Sheria, Angela Kairuki na Naibu Waziri wa Maendeleo ya Jamii, Jinsia na Watoto, Pindi Chana na wabunge Betty Machangu (Viti Maalumu), Livingstone Lusinde (Mtera), John Komba (Mbinga Magharibi), Eugen Mwaiposa (Ukonga) na Gudluck Ole Medeye (Arumeru Magharibi).

Hata hivyo, gazeti hili halijawataja majina mawaziri na wabunge wengine waliomo kwenye orodha hiyo ya Lissu kwa kuwa hawakupatikana jana kujibu tuhuma hizo.

Mbali na kuwataja kwa majina, Lissu pia ametoa vielelezo vinavyoonyesha jinsi walivyokuwa wakiidhinishiwa malipo kwa nyakati tofauti na Mfuko wa Pensheni kwa Wafanyakazi wa Serikali za Mitaa (LAPF), kwa sababu mbalimbali.

Lissu alimwambia mwandishi wetu jana kuwa licha ya kiwango cha fedha kutokuwa kikubwa, lakini kinaweza kusababisha mgongano wa kimasilahi kati ya wajibu wa wabunge kwa umma na masilahi yao binafsi.

"Hali hii inaweza kusababisha Bunge likashindwa kutimiza wajibu wake wa kikatiba wa kuisimamia Serikali na taasisi zake," alisema Lissu huku akisisitiza azimio lake la kuwasilisha hoja binafsi kwa Spika wa Bunge ili iundwe tume kuchunguza suala hilo.

Mkurugenzi Mkuu wa LAPF, Eliud Sanga jana alikiri kuwa shirika hilo liliidhinisha malipo kwa mawaziri na wabunge hao kwa ajili ya shughuli mbalimbali za maendeleo.

Hata hivyo, alisema shirika hilo halitoi fedha taslimu, bali hununua vitu ambavyo viliombwa na viongozi hao kwa ajili ya kusaidia wananchi na si kufanya biashara.

Sakata lenyewe

Akizungumzia jinsi mawaziri na wabunge hao walivyosaidiwa, Lissu alisema LAPF ilitoa Sh2.5 milioni kwa ajili ya mradi wa madarasa Jimbo la Kongwa linaloongozwa na Ndugai.

Alipoulizwa kuhusu madai hayo, Ndugai alisema hakuna tatizo lolote kwa mbunge kupewa msaada na mfuko wa kijamii.

"Huyo Lissu ana upungufu mkubwa. Hivi LAPF ikisaidia Sh2 milioni kwa ujenzi wa darasa unaogharimu Sh10 milioni ni tatizo hilo? Nchi hii inakwenda wapi jamani, siyo kila kitu wanachozungumza wapinzani ni hoja, kama LAPF wangekuwa wanatoa fedha lingekuwa tatizo lakini wanasaidia vifaa tu."

1 | 2 | 3 Next Page»

• Kipanya Leo

Kp Mei



Kipanya April

Kp Machi

KP Feb

What has this got to do with Kenyans if I may ask? Where are the mods to curtail this foolishness.

CC. Ab-Titchaz,

 

[Dr. Job]

5 more Anglo Leasing barons to face charges

Ethics and Anti-Corruption Commission Chairperson Mumo Matemu. He said that investigations into Anglo Leasing-type contracts had been ongoing, pointing out that the EACC had made the progress following the signing of mutual legal assistance deal with different countries

By PATRICK MAYOYO

[h=3]In Summary[/h]

• He added that investigations into Anglo Leasing-type contracts had been ongoing, pointing out that the EACC had made the current progress following the signing of mutual legal assistance deal with different countries which are now co-operating with it.

Anti-corruption authorities are seeking to prosecute five fresh suspects involved in Anglo Leasing-type contracts.

The charges relate to tenders worth Sh65 billion which were either outrightly fraudulent or which involved over-valuing of goods sold or services rendered.

Although the Ethics and Anti-Corruption Commission chairman, Mr Mumo Matemu, said that files with the recommendation to prosecute will be given to the Director of Public Prosecutions in a matter of weeks, he declined to identify the suspects he has recommended for prosecution.

But they will likely come from the pool of suspects who have previously been named in connection with the dubious transactions that have cost tax payers billions of shillings.

The announcement comes when the government is under pressure to demonstrate seriousness in the fight against corruption. Locally, opposition coalition Cord has threatened mass action unless the Jubilee administration shows there is tangible progress in the fight against graft.

Internationally, Kenya wants to borrow money from the European bond market.

Previously, there has been reluctance to prosecute the so-called big fish, with action being limited to managers who authorised transactions and not political bosses or the shadowy wheeler-dealers.
Last week, President Kenyatta authorised the Treasury to pay Sh1.4 billion to two firms whose contracts had been the subject of investigations for nearly a decade.

Mr Kenyatta said he was forced to do so because a court had ordered Kenya to pay up. However, he promised investigations and prosecution of those involved in the transactions.

On Monday, Mr Matemu said: "We are also going on with more investigations by starting the process of seeking assistance from international partners by looking for evidence for criminal prosecution and asset recovery through The Asset Recovery Inter-Agency Network."

He said that investigations into Anglo Leasing-type contracts had been ongoing, pointing out that the EACC had made the progress following the signing of mutual legal assistance deal with different countries. "The files we are going to forward to the DPP involve both local and foreign suspects."

Legal assistance

Investigations into most Anglo Leasing-type cases had nearly stalled due to lack of mutual legal assistance agreements but these came into force with the implementation of the Constitution.

"Apart from the new five files, we have another five Anglo Leasing cases files which are still pending in court; one has been finalised and another is pending for constitutional reference," he said.

Last week, Treasury Principal Secretary Kamau Thugge told the Public Accounts Committee (PAC) that the payment to First Mercantile Securities Corporation and Universal Satspace was wired by the Central Bank to an account at Natwest Bank in London.

Both firms are associated with businessman Anura Pereira who is demanding an additional Sh3.05 billion from the government.

Deputy Solicitor-General Muthoni Kimani and Dr Thugge told PAC that the government had received a notice of claim for Project Flagstaff, linked to the National Intelligence Service (NIS).

5 more Anglo Leasing barons to face charges - News - nation.co.ke

=========================================================================

Here we go again, the wild goose chase begins, Anglo Leasing has become the conduit for extracting more money from the public coffers in the guise of more investigations. We all know in a couple of years time, this so called charges will vanish into the air just like all the rest . Sadly this people believe we kenyans are very gullible and just forget even faster. Poleni we are wide awake and cant take this upuzi any longer!!! We need services, we need Good roads, we need a good health care, pay the nurses/doctors/teachers well and STOP WASTING OUR MEAGER RESOURSES ON USELESS POLITICAL GAME OF FENCING

 

[Dr. Job]

Dr. Job wanted the government to act very concerned about taxpayers money while it continues to accrue interest to be paid by the same taxpayers, good reasoning.

Dhuks,

I have heard this drumbeat that we have to pay Anglo Leasing Fraud fees because we have an Eurobond début that may be jeopardized if we don't. This logic is backward front. It should really be that "we have no business débuting an Eurobond when we can't hold known embezzlers of what we already got to account."

How shall we take care of much that the future may promise when we can not even take care of the little we have in the present? This approach to the business of state and management will come back to bite hard at those who effect it. Time is the master. In Kenya, there are great ideas on how to both make money and raise money for different purposes but those entrusted with management have time and again proven that they lack moral and fiscal discipline. They simply cannot separate private affairs from state affairs.

I rest my case.

 

[ex rebel]

Dhuks,
In Kenya, there are great ideas on how to both make money and raise money for different purposes but those entrusted with management have time and again proven that they lack moral and fiscal discipline. They simply cannot separate private affairs from state affairs.

I rest my case.

on both goldenberg and anglo-leasing, these are foreign companies, and the architects are much less from the same descent. but you have a hard time making a case against them. You have kamlesh patni, where even right-wing newspapers The Star et al have tried to link scandals, but to no avail. them man is nowadays a fulltime preacher.

the level of restrain you are discussing the issue with Dhuks is good. when did githongo expose anglo-leasing and what has been done since then. not forgetting that whole period when those contracts were made and is when our meagre resources/kenya was being taken. if there is too much corruption so what do we need to do?