The proposed take over of Nairobi’s Jomo Kenyatta International Airport whose ownership and management is to be placed under a holding company that will be 100% owned by KQ in a concession deal that will run for 30 years is one the calls for serious questioning due to the far reaching implications it portends.
For a facility that tax payers taxpayers have heavily invested on for expansion and maintenance, legislators in the Senate and the National Assembly will be expected to demand transparency and accountability in this deal and ensure the public gets value for money and a worthy return on investment.
But examined more closely, Kenyans need not to look very far to connect the dots. Isaac Awuondo, long serving Chairman of Kenyatta owned Commercial Bank of Africa was recently appointed to Chair the Board of KAA. What is CBA’s interests in the running of JKIA?
At the moment, KQ owes KAA more that Sh6 billion in unpaid bills ranging from land fees, parking charges and other services. Can KQ first put its accounts to order and settle it’s debts before seeking to take over JKIA?
The suspect takeover plan which was been conceived by Kenya Airways Chairman Michael Joseph has confounded aviation observers who wonder how a private loss making company like Kenya Airways can move to takeover a profitable and strategic state institution, unless there is a powerful force out to profiteer from the publicly owned institution.
But Michael Joseph is nortorious for grabbing and building monopolistic firms and the proposed KQ-JKIA deal is intended to monopolise the Kenyan skies and give the privately owned airlines a guaranteed revenue stream for 30 years.
Kenyans will remember Michael Joseph was responsible for the controversial loss of Safaricom shares from the then state owned Telkom Kenya and the subsequent IPO that saw shadowy Mobitelea grab substantial public shares in Safaricom.
Today, Safaricom which continues to enjoy monopolistic policies from government rakes in annual profits in excess of Sh50 billion which is paid to private individuals as dividend, money that could have otherwise gone to state coffers had the Telkom shares been retained by the public.
Ali says
The so called SPV-By KQ to run and manage a public facility is scam ochestrated by a cartel whose aim is to grab a public facility.KQ just wants JKIA as a security for its off balance sheet activities.KQ scam has gone for long bail out after bail out,management restructuring etc what a sinking entity.Kenyans should come out in large and say big NO.Kenyan format of Enron like scams is being proposed by faceless cartel.KQ should make full disclosures of its financial activities since privatization,leasing of its fleets,fleet renewal programs ,hedging activities etc.As a Quant Scientist we should resist this scam.Kenyans keenly look at SPV legal regime in which KQ is proposing to snatch tax payers asset.We have a very proffessional management world class who have been running our airport facilities look no elsewhere to run and manage KAA.And to aviation union please be prepared to fight off this cartels we cant let few individuals destroy honest and hard working staff running a national facility to be sent home due to few selfish individuals.
Anonymous says
With all the educate and PATRIOTIC Kenyans, why is KQ under the management POLISH PROFESSIONALS??? CAN BLACK KENYANS SUCCESSFULLY run KENYAN RESOURCES??
Anonymous says
CORRECTION!
With all those educated and PATRIOTIC Kenyans, why is KQ under the management POLISH PROFESSIONALS?? CAN BLACK KENYANS SUCCESSFULLY run KENYAN RESOURCES??
Anonymous says
“Kenyans will remember Michael Joseph was responsible for the controversial loss of Safaricom shares from the then state owned Telkom Kenya and the subsequent IPO that saw shadowy Mobitelea grab substantial public shares in Safaricom.” spies brought in to weaken Kenyan entities.
Anonymous says
Here is another method used by allied transnational thieves and their local cartel associates!! They start fake projects in Kenya; declare BANKRUPTCY before the projects are completed after pocketing all the public funds and resources for these projects!! These transnational thieves then leave Kenyans in a financial mess and massive debts associated with these failed/unfinished projects. Then the low IQ Kenyan ruling elites impose massive taxes on poor Kenyans to recoup/recover the losses!
THIS IS HOW TO SIPHON MONEY OUT OF KENYA AND LEAVE THE REPUBLIC IN ECONOMIC RUINS::::>
https://www.kenyans.co.ke/news/36726-construction-ksh-38-billion-dam-delayed-after-italian-contractor-filed-bankruptcy
QUOTE
Reports indicate that the contracted company indicated that it no longer has the capacity required to continue undertaking the huge development project from the beginning of 2019
UNQUOTE
Anonymous says
The CORRUPT KENYAN (LOW IQ) RULING CARTELS ARE THE responsible FOR THE DESPICABLE ECONOMIC CONDITIONS THAT THE 99.9% OF POOR KENYANS FIND THEMSELVES IN!!
Anonymous says
Quote
For a facility that tax payers taxpayers have heavily invested on for expansion and maintenance, legislators in the Senate and the National Assembly will be expected to demand transparency and accountability in this deal and ensure the public gets value for money and a worthy return on investment.
But examined more closely, Kenyans need not to look very far to connect the dots. Isaac Awuondo, long serving Chairman of Kenyatta owned Commercial Bank of Africa was recently appointed to Chair the Board of KAA. What is CBA’s interests in the running of JKIA?
Unquote
THIS MEANS KENYAN ASSETS ARE FUNDED BY POOR/POWERLESS KENYAN TAXPAYERS WHO ARE MOSTLY LIVING IN SLUMS! THESE SAME PUBLICLY FUNDED KENYAN ASSETS ARE PRIVATELY OWNED BY THE RULING CLASS AND THEIR FOREIGN ASSOCIATES (PARTNERS OR INVESTORS)!
THESE ARE THE SAME INVESTORS/ASSOCIATES DP WILLIAM RUTO WENT TO GET APPROVAL FROM DURING HIS SPEECH AT THE CHATHAM HOUSE IN LONDON!! WITHOUT THAT APPROVAL, ELECTIONS WILL BE RIGGED TO THE LOCAL CHOSEN CANDIDATE !
THIS SHOULD BE CALLED THE PROCEDURE FOR THE POCKETING OF SUB-SAHARAN AFRICAN RULING ELITES BY FOREIGNERS!!
SUB-SAHARAN AFRICAN RESOURCES BELONG TO THE FOREIGN INVESTORS THROUGH THEIR CAREFULLY CHOSEN LOCAL RULING ELITES!
Anonymous says
Similar to a plot that was hatched by GEMA in the dieing days of the Jomo regime to grab Kenya Airways. Hopefully this one equally flops.