Kamau Thugge, the Principal Secretary for the National Treasury, told the Finance Committee at a separate meeting that the debt would be cancelled out as Safaricom paid the government a similar amount in dividends. Appearing before the National Assembly’s Administration and National Security Committee to “justify” budgetary proposals in the Supplementary Budget for the security office on Thursday, Interior Cabinet Secretary Joseph Nkaissery said Safaricom had threatened to impose heavy interest. By JOHN NJAGIMore by this AuthorThe National Treasury is under pressure to pay mobile telephone service provider Safaricom more than Sh10 billion after the government defaulted on a contract for national security surveillance equipment. “The government did not honour the agreement and now we have to pay Safaricom the full amount.”The matter could, however, be sorted out amicably. Kamau Thugge, the Principal Secretary for the National Treasury, told the Finance Committee at a separate meeting that the debt would be cancelled out as Safaricom paid the government a similar amount in dividends.

Source: Daily Nation February 02, 2017 21:56 UTC