Mega-corruption at the Central Bank of Kenya

#1 - Zain refused Money Transfer License upon refusal to bribe CBK governor & cronies

Why does the (corrupt) government of Kenya allow M-Pesa to continue operating & grow in size but the CBK does not allow Zain to launch Zap?

1) Zain refused to pay-off ndungu & his ilk. They followed in the footsteps of YU (Econet) who fought it out in court for the 3rd mobile license.

2) SafCon has powerful politicians as part one of the major shareholders (Mobitelea) who know that delaying Zain's entry will make M-Pesa the entrenched first-mover.

3) This is a government of the corrupt. No pay, no play.

If the CBK is truly concerned about M-Pesa, then they should suspend the service BUT Safaricom's M-Pesa has been given a CLEAN BILL OF HEALTH & is signing up M-Pesa dealers with CBK's tacit approval to stymie Zap when it comes in.

Other links on the Grand Rip Off
The Grand Rip Off
ndungu's role in the GRH scam
The verdict on the Grand Regency scam
The 'secret sale' of GRH
CBK sold GRH in an opaque manner
GRH was under-valued
Lies told by abuga, kimunya & ndungu in the secret sale of GRH



#2 - CBK governor complicit in selling Grand Regency Hotel to protect kibaki's promises

kibaki &/or PNU - I am told - received funds from Libya to fund his 2007 election campaign. In turn he promised to sell them Kenyan assets at a discount & without competitive bidding.

Kudos to Justice Cockar & his team for bringing the truth to light. I bet kibaki is upset that he picked Justice Cockar instead of one the corrupt judges!

Summary of the Cockar Report (from the Sunday Nation)

These assets included the GRH, Kenya Petroleum Refinery & Kenya Pipeline Company.

Well, 2/3 have been completed. Watch this space for the KPC to be sold to the Libyans.

Africa - tough place to do business for those who are not corrupt.