Investigations
Exposed: The Men Who Fell Sameer Africa And The Loot They Made Away With
Details about persons who milked Sameer Africa (owned by business magnate Naushad Merali) dry have emerged. The firm has been recording losses and even depleted reserves significantly as was shown in the released HY June 2019.
Exclusive intelligence documents seen by Kenya Insights has revealed the faces behind the 2018 loss making company and the amount they looted in the year Sameer posted a loss of Ksh 686.4 million for the year ended 31 December 2018
Pocketing an alleged Sh21.5 million and at the top of the list is Simon Ngigi Gachomo. Simon was appointed as Managing Director in October 2018 where he allegedly siphoned the funds up until August 2019 when he resigned ‘to pursue personal interests.’
Coming in second, looting about Sh3.25 million was Engineer Erastus Mwongera. The chairman at Sameer Africa and Kenya National Highways Authority also took part in the massive loot practice that drove the company to its knees. In 2018 the engineer was paid Sh545,000 in sitting allowances a 78.7% increase from Sh305,000 the previous year
Also listed are;
- Ms Mary Ngatia, director and member of the audit, risk and corporate governance committee of the board, she allegedly stole Sh960,000.
- Peter M. Gitonga, who was appointed acting Managing Director following the departure of Simon Ngigi Gachomo, at the time he was a member of the nominations and remuneration and the finance and investment committee of the board, he allegedly made away with Sh940,000.
- Dr. Winnie Iminza Nyamute, chair of the audit, risk and corporate governance committee of the board with Sh880,000.
- Akif H. Butt, member of the finance and investments committee of the board with some alleged Sh860,000, his sitting allowance rose from Sh160,000 to Sh380,000 a 137.5 spike.
- Sameer N. Merali member of the finance and investments committee of the board allegedly pocketing Sh800,000, In 2018 Merali took homeSh800,000 in sitting allowances a whooping 300% increase from Sh80,000 in 2017.
- Dr. Lydia Muthoni Mbuthia, the chair of the finance and investments committee of the board pocketing the least at Sh480,000.
Overall in 2018, the company paid out Sh3,065,000 in Sitting allowances up 79% from Sh1,715,000 the previous year.
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