American Independent Power Producer (IPP) Ormat Power is on the spotlight in the US for booking outsized gains from Kenya, just days after the President appointed a taskforce to investigate power producers.The company’s filings to the Securities Exchange Commission of the United States of America says a huge percentage of income comes from Kenya Power. […]
Foreign Corrupt Practices Act scrutiny can arise in a variety of ways. Although not common, occasionally (see here for a prior example) a short seller (generally speaking an investor hoping to profit if a company’s shares fall) alleges that a company is engaged in corruption. Recently, Hindenburg Research issued this lengthy report suggesting that Ormat Technologies […]
Police: ‘Picture arises of S&B systematically bribing gov’t officials with tens of millions of dollars for years’ February 2016, Nairobi, ostensibly just another day at the office. Dan Shaham, manager of the Kenya branch of SBI Infrastructure, a member of the Shikun & Binui construction group, summoned accountant Shai Skaf to his office. Unusually, the […]
