My one cent..
"In April last year, our officers investigating the case were told to stop with immediate effect." says a > senior Kacc official.
Parliament should hasten the Freedom of Information Bill into law before December elections then we could use it to inspect transactional details to exclude ictbergs/ictleasings away from corporate PR/ and government Official Secrets Act that facilitate corruption and re-"morgue"aging Kenyans. Alex --- Mike Theuri <mike.theuri@gmail.com> wrote:
Joram,
Your intuition is right, there are heavily vested interests, though I believe not in the sense that Econet is coming in late but in the sense that Econet is coming in now. It is apparent that there may be multiple vested and opposing interests gunning for control of the licence, whether true or not, it can be concluded that where there is smoke the likelihood of finding a fire is high:
=== SPECIAL REPORT | Page 9 SUNDAY STANDARD MARCH 19 2006 No end in sight to Econet intrigues
"In April last year, our officers investigating the case were told to stop with immediate effect." says a senior Kacc official.
Kacc spokesman Nicholas Simani however declined to comment on the matter." ====
There is a plethora of hundreds perhaps thousands of pages of documents (some attached) on these matters available from courts in Nairobi, London, Lagos, Papua New Guinea, Botswana and Johannesburg including affidavits by the foreign entity's executives that tell a shockingly different story from the often one sided pompous story told in the media.
KNFC has a valid case, Econet too had to raise money (there is evidence supporting how this was done and why Econet took their former top level executive (also after he refused to co-operate in disenfranchising KNFC) to court in Johannesburg in a bid to gag him from spilling the beans, beans which a VP of the telecom vendor at the center of the unorthodox financing arrangement feared would rile Vodafone/Safaricom, Celtel, MTN etc). Why would anyone touch KNFC with a long pole when there are vested interests intent on derailing KNFC at every turn and corner while a PR machine touts the other party as the credible and righteous party with stories of "success and triumph" in other countries citing billions of profits in Zimbabwean dollars Z$ ambigiously as touted as $ "US dollars" yet it is no secret that Zimbabwe is a nation of poor millionaires where the average price of a home starts in the billions
http://www.fingaz.co.zw/fingaz/2005/February/February24/7816.shtml
If you were a financier who would you work with? The hapless KNFC you read about in the press or the over "glorified" entity (minus its unknown mishaps) that you read about in the press?
Even then according to the attached advertisement that was published in the Nation on April 12 2004 by KNFC's lead financier, the regulator is said to have refused to accept the replacement bid bond from KNFC and further to that KNFC's financier confirms in the ad as having raised the requisite licence fee but the regulator was not willing to issue the licence to them. The Econet PR machine that has its team of dedicated journalists in various newsrooms went to work to tout KNFC as having no funds or in the alternate of having failed to raise funds for the licence. Those in doubt do not need to look very far, the Co-operative bank is one such example of success from the co-operative sector. As always the PR machinery works overtime to paint KNFC as the impoverished villians and Econet as the righteous party with money overflowing from its pockets.
Unfortunately the truth should be told, contrary to what the Kenyan media reports, Econet has not won any of its huge and highly publicized endlessly filed legal battles. Where it was not likely to win it settled. Econet Wireless Nigeria is no more, it is now Celtel and NOT because Econet sold it to Celtel but because the Nigerian shareholders choose to do so. Econet simply got a taste of its own medicine when it was bundled out of Econet Wireless Nigeria and when it seemed Econet could retain its 5% shareholding + more, it was unable to match Celtel's superior offer for the shares at stake. As Business Day in South Africa and other Nigerian media reported on and around 30 June 2006 regarding the saga (contrary to Kenyan media reports indicating the opposite). Thus there is no West African battle that Econet has won except through its disinformation campaign:
----------------
http://mybroadband.co.za/nephp/?m=show&id=3368
ECONET's battle for control of Nigeria's cellular network, V Mobile, has been massively undermined by a court verdict damning Econet for misleading a judge and failing to admit it was $90m short of the cash needed to buy the business.
The Nigerian court will be presented with the UK verdict showing that Econet had withheld evidence and failed to raise the cash.
Econet CEO Strive Masiyiwa claimed to have raised $1,5bn to buy V-Mobile entirely, but accused the Nigerians of refusing to hand over the documents to conclude the deal. The court found that was not true.
When Econet sought an order to block V-Mobile's sale to Celtel, it told the court it had more than enough funds to make the payment. "That was not the true position," Judge Morison said in his ruling. "There was serious nondisclosure or misrepresentation of the true position as to Econet's access to funds."
The court was "seriously misled by evidence as to Econet's access to funds," Morison said. He ended the injunction so Celtel could buy V Mobile as Econet lacked cash.
Celtel CEO Marten Pieters said the ruling confirmed Celtel's purchase of V- Mobile was a professional and transparent process. ------------------
http://www.pacificmagazine.net/issue/2005/02/01/business-briefs
The Papua New Guinea government has terminated the proposed sale of 51 percent of Telikom (PNG) Ltd to African telecommunications giant Econet Wireless Group. Bowing to criticism in Parliament and public outcry, Prime Minister Sir Michael Somare announced the PNG Cabinet's decision and said the sale process would be looked at again this year. "Given the debate from various sectors of the community and the parliamentary resolution not to proceed with the sale under its current structure, the Cabinet has decided the most logical step is to cancel current attempts to sell this important State asset," Sir
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