Thursday, March 9, 2023 – The National Assembly’s Departmental Committee on Finance and National Planning is set to commence an inquiry into the disbursement of Sh6 billion to Telkom Kenya to facilitate the exit of Helios Investment Partners.
The Committee led by Molo MP Kimani Kuria, in particular, seeks to establish if the law was followed in the disbursement of the money under Article 223 of the Constitution.
“The Legislators also seek to establish the regulatory and statutory approval granted by the Communication Authority of Kenya and Capital Markets Authority for the acquisition of Telkom shares by Jamhuri Holding Limited,” read a Committee brief.
The Committee also aims to determine if former Treasury Cabinet Secretary Ukur Yatani, former Principal Secretary Julius Muia, and the Controller of Budget Margaret Nyakang’o undertook due diligence when processing the transaction.
“Besides these former and serving officials, the Committee has enlisted the Attorney General, Telkom Management, Jamhuri Holding Limited, Communication Authority of Kenya, Capital Marketing Authority, and the Kenya Revenue Authority to appear before the Committee to aid the inquiry,” read the Statement from the Committee.
The probe comes days after Deputy President Rigathi Gachagua said public coffers were raided by the officials as the Supreme Court case against their victory was going on.
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