Pandora Papers expose Kenyan President, Kenyatta’s alleged shady deals
Several world leaders including Kenyan President, Uhuru Kenyatta, have been implicated in a detailed expose by the Pandora Papers published on Monday.
The Pandora Papers are the results of investigations by the International Consortium of Investigative Journalists (ICIJ), Finance Uncovered, Finance Uncovered, Africa Uncensored, and other news organisations.
The report revealed that the President’s family owned at least seven such entities in Panama and the British Virgin Islands.
READ ALSO: Kenyan President labels compatriots ‘thieves’
It said: “The records – from the Panamanian law firm Aleman, Cordero, Galindo & Lee (Alcogal) – show that the family owned at least seven such entities, two registered anonymously in Panama and five in the British Virgin Islands.”
The Pandora Papers disclosed that the Kenyattas also secretly owned offshore oil companies.
It added: “Muhoho Kenyatta owned three registered in the BVI, according to records: One had a bank account that held an investment portfolio worth $31.6 million in 2016; another had unspecified investments at a bank in London.
“From 1999 to 2004, Ngina Kenyatta and her two daughters held shares in a BVI company, Milrun International Limited. The sisters used the company to buy a London apartment in the upscale Westminster neighborhood, according to records.”
However, Kenyatta said he would “respond comprehensively” to the leak once he returned from a state visit abroad.
He stressed that the investigation would go a long way in enhancing the financial transparency and openness required in Kenya and across the world.
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