Monday, April 30, 2007

What is irrevocable cannot be revoked

Could we be on the verge of cracking the Anglo-Leasing case? Over the last two weeks, MPs have twice discussed the irrevocable promissory notes issued to the fictitious credit providers associated with the 18 contracts.

And now the Daily Nation reports that the Ministry of Finance has contracted Price Waterhouse Coopers, who over the past few months have been engaged in forensic inquiries into the 18 so called Anglo Leasing type contract. My instinct, suspicious fellow that I am is to call this a clever diversion away from the real problem. That serious people are beginning to ask serious questions about the irrevocable promissory notes issued by the Government of Kenya to the tune of Ksh 56.33 billion, to fictitious credit providers. The PWC contract is in my view a red herring that should worry Kenyans for several reasons.

Mwalimu Mati, formerly of Transparency International reviews the case of the irrevocable promissory notes that the Kenya govt. signed over in the 18 anglo-leasing related cases. Read the rest here.