Revealed: 'Secret' Company that Runs SGR Demands Sh30 Billion from Kenya Railways
It has now emerged that the Standard Gauge Railway (SGR) is run by a company that was 'secretly' established in May 2017.
The Sunday Nation reports that it obtained documents showing that the SGR is not directly operated by China Road and Bridge Corporation (CRBC), a State-owned Chinese company, as agreed in the initial contract.
The publication says documents in its possession showed that the SGR is operated through a “special purpose operating company” dubbed Africa Star Railway Operation Company.
The Sunday Nation reports that CRBC is the company's majority shareholder but the other shareholders remain unknown with details unavailable at the Registrar of Companies in Nairobi.
Africa Star Railway Operation Company is reportedly demanding a staggering Sh30 billion from Kenya Railways Corporation, which it terms as ‘pending payments’ and a fine of Sh800 million for late payments.
“Before the operations started, documents show, Kenya was compelled to lend the operator an interest-free Sh3.5 billion."
"A special reserve account was also set up to be maintained with Sh3 billion to cushion the operator. The contract also put punitive clauses pushing Kenya to start operating the railway by June 1, 2017. Any delay in starting the line would attract a fine of Sh24.2 million a day, the contract shows,” the Sunday Nation reports.
The company was to earn Sh13.3 billion in its first six months of running the passenger service trains.
Under the confidential contract, the company has the right to manage the ticketing system and any associated software and hardware.
The operator also collects passenger fares, including non-cash revenues streams like M-Pesa.
Shockingly, the secret contract also states that the operator can only cater for repair bills of below Sh100,000. Line maintenance bills also should not exceed Sh5 million per year.
Comments
Who signs these Agreements??…
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Who signs these Agreements???
Ati "....Any delay in starting the line would attract a fine of Sh24.2 million a day...."
"...Shockingly, the secret contract also states that the operator can only cater for repair bills of below Sh100,000..."
KWANI NI DEMIO????
"..Before the operations started, documents show, Kenya was compelled to lend the operator an interest-free Sh3.5 billion."
Ati LEND???? WITHOUT INTEREST? Why Lend?
AAAhhhhh --Kenya, God have mercy!!
We need to sue and we will…
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In reply to Who signs these Agreements??… by JustMe (not verified)
We need to sue and we will get to know the details. It’s unlawful. Don’t wait for Uhuru to start giving empty warnings and notices. He’s a toothless lion whose lost credibility and grip in governances. We need a revolution or else we will keep complaining and commenting here forever! Cohesive actions speak louder than words!
how do we do this my brother…
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In reply to We need to sue and we will… by GG (not verified)
how do we do this my brother/sister, Im ready, just a few of us and the masses will follow, ata jeshi na polisi i dnt think they are willing to sacrifice their lives for these killers,mbaya ni mbaya... kila mtu ako na damu na hakuna mtu ataishi milele
So, who owns this ghost…
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So, who owns this ghost operator company?, For starters,this is step two on your way to loosing your SGR to these unknown KAISHENG mobs.YOU CAN NOW DROP YOUR DRAWS THE INVASIVE PENETRATION IS EMINENT. GOOD LUCK1
ksh3.5 billion interest free…
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ksh3.5 billion interest free? What is this nonsense crap all about? I thought we're a sovereign nation that can contract on equal basis with other parties? Why do our leaders sign stupid and embarrassing agreements? Don't they read before signing these crap? Kenya is being mortgaged piece by piece and our children will wake up to a nightmare with a bill they can't pay to China, US, UK, IMF World Bank et. God help us all.
I can assure you the…
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In reply to ksh3.5 billion interest free… by Mwororo (not verified)
I can assure you the registered persons are front men of uhuru and Ruto otherwise no same person would dare. Wait for uhuru to warn them next week🤣😭
If the 'shareholders remain…
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If the 'shareholders remain unknown' that means is a scam. Most likely powerful politicians are the ones who own that company.
Kenyan's, we need the…
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Kenyan's, we need the following book as a set book in our schools and for our leaders. If you have not read and digested its contents, you should not be anywhere close to power in Africa. Watch on YouTube or read the book. "The Confessions of an Economic Hitman" by John Perkins.
We need to stop anything to do with infrastructure by western nations.
We are being sold into slavery, us and posterity by our "so called leaders" inch by inch because of greed. All they see is money, not what that money does, not the cost,not how it will be repaid.
May the God of the so called "Black man" take care of business.
"My people die for lack of knowledge"
The secret shareholders are…
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The secret shareholders are our current leaders. If you know, you know. Kenya imeisha.
I bring you the development,…
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I bring you the development, you pay me for the rest of your life. Welcome to Africa development matrix.
The company borrows 3…
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The company borrows 3 billion to run the railway and
Pays no interest. They are paid upfront and directors not known. And uhuru is telling us; trust me on housing🤣
Case closed. If this…
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Case closed. If this company does not have shareholders do not pay them even a dime. How can you pay money to the Air or Demons or Spirits or imaginations?
Kenyans should be very angry…
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Kenyans should be very angry lot. What kind of thuggery is this ? People ar now shameless eating everything
But it's our man eating and…
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But it's our man eating and he will throw me some bread crumbs and dance for me during the public gathering. he will even go to the roadside kiosk and have tea showing me he is a man of the people.
This is likely to be the…
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This is likely to be the mother of all scandals.
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