Kenya’s President family’s network of secret offshore companies exposed!
A network of offshore firms allegedly beloging to the family of Kenya’s President, Uhuru Kenyatta, has been a exposed in a huge leak of financial papers.
The companies were exposed in the Pandora Papers which has 12 million files and described by BBC as the biggest such leak in history.
The Kenyatta family has dominated Kenya’s political landscape for several decades, with Uhuru’s father, Jomo Kenyatta once serving as President of Kenya.
The Pandora Papers linked Uhuru Kenyatta and six members of his family to at least 13 offshore companies.
An investigation published earlier on Sunday, by the International Consortium of Investigative Journalists (ICIJ), Finance Uncovered, Finance Uncovered, Africa Uncensored and other news organisations, uncovered the secret assets.
However, the family as at the African Entertainment was compiling this report, was yet to respond to the leak.
Accordingly, the offshore businesses of the Kenyatta family, including a firm with stocks and bonds worth $30m (£22m), were discovered among hundreds of thousands of pages of administrative paperwork from the archives of 14 law firms and service providers in Panama and the British Virgin Islands (BVI) and other tax havens, the Pandora Papers revealed.
The Pandora Papers uncovered a foundation called Varies was established in 2003 in Panama. The Papers named Mr Kenyatta’s mother, Ngina, 88, as the first benefactor. Mr Kenyatta was named as the second benefactor, who would inherit the foundation after death of his mother.
Interestingly, the purpose of the foundation and the value of its assets have not been disclosed.
source: african entertainment
