Ngumi was the single largest individual beneficiary of a transaction that left its subject Telkom Kenya unable to pay its tower bills, unable to retain its subscribers, and unable to find a strategic investor willing to rescue it.
For a man who once told Parliament he could have charged ten million US dollars for five months of advisory work, the image of John Ngumi seeking constitutional sanctuary from accountability investigators tells its own story.
Jamhuri Holding Limited (JHL) through its parent company, Helios Investment, issued an ultimatum to Kenya to either fully acquire Telkom or source for strategic investors to take over ownership. This followed a raft of frustrations and bureaucracies by the government which bogged down the deal. The ultimatum, which was revealed by the former National Treasury […]
