[Wilberforce Okwiri, Standard]The Ethics and Anti-Corruption Commission (EACC) has cleared the National Treasury of wrong-doing in a protracted case accusing the government of ceding Sh2.4 billion worth of shares in the State-owned Telkom Kenya to the private sector. “It was further reported that the Treasury failed to avail government balance of Sh2.4 billion six months after signing the deal, exposing the State to a loss of 10 per cent stake in Telkom Kenya Ltd,” states the report. There were also accusations of conflict of interest on the part of Telkom Kenya directors to conduct the restructuring. The report comes months after Telkom Kenya and Airtel Kenya merger deal collapsed. The case against the National Treasury and Telkom Kenya was considered one of the stumbling blocks to the merger

Source: Standard Digital January 24, 2021 15:31 UTC