Hard questions in Telkom Kenya sale deal to Emirates firm

Telkom mobile phone subscribers queue to upgrade their new sim cards registration at Telkom house, Nairobi. [Elvis Ogina, Standard]

In May this year, investment banker John Ngumi moved to the High Court and obtained an injunction barring the Ethics and Anti-Corruption Commission (EACC) from arresting him.

The EACC was investigating an irregular transaction where the National Treasury paid Sh6 billion to Helios Investment Partners to take over the majority stake in Telkom Kenya.

The transaction, conducted during a political transition, raised eyebrows particularly after Controller of Budget Margaret Nyakang'o revealed that senior government officials including Treasury Cabinet Secretary Ukur Yatani pressured her to authorise release of the funds.