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Former Samburu Governor Moses Lenolkulal.[Collins Kweyu, Standard]

Former Samburu Governor Moses Lenolkulal has been sentenced to eight years in prison or pay a fine of Sh85.4 million.

He was found guilty of corruption involving Sh83.3 million.

Milimani Anti-Corruption Court on Thursday, August 29, ruled that Lenolkulal unlawfully benefited from supplying petroleum products to the Samburu County government. 

Magistrate Thomas Nzyoki said Lenolkulal acted in a conflict of interest. He awarded a fuel supply tender to his petrol station.

Lenolkulal was sentenced to four years for conflict of interest and another four years for the unlawful acquisition of public property. 

 He must pay twice the amount he gained, totalling Sh83,460,995.

Hesbon Ndathi, Lenolkulal's proxy, has also been found guilty. He was sentenced to four years or a fine of Sh1 million for unlawfully acquiring public property. Both men are banned from holding any public office for 10 years.

Former County Secretary Stephen Siringa and other county officials were sentenced to four years or fined Sh700,000 each. By Nancy Gitonga , The Standard

Despite prevailing economic uncertainties, Kenya emerges as a key destination for private equity (PE) investments, according to the 2024 Deloitte Africa Private Equity Confidence Survey (PECS).

This annual survey canvasses opinions from private equity practitioners about the investment landscape across Africa for the upcoming year.

In addition, the survey illuminates Kenya‘s appeal, positioning it as the most favored investment locale in East Africa.

Over the next 12 months, the majority of respondents plan to channel their investments toward Kenya. This underscores Kenya’s status as East Africa’s leading economy for private equity focus.

“Private equity’s resilience and knack for pinpointing opportunities are pivotal in bolstering businesses and spearheading economic recovery,” the report states.

Alongside Kenya, nations like Nigeria, South Africa, and Tunisia are also recognized as crucial investment hubs in Africa.

East Africa’s Growing Private Equity Potential

According to Kevin Kimotho, Deloitte East Africa’s Private Equity Leader, recent policy reforms and regulatory adjustments across East Africa are crafting unprecedented opportunities for PE investments.

“This favorable convergence across East Africa offers not just chances for lucrative exits but also pivotal moments to sculpt the region’s economic future,” Kimotho explains.

He highlights that Kenya’s recent move to privatize 26 public institutions aims to invigorate a more dynamic, private-sector-led economy.

The success of these privatizations, however, will depend significantly on how the government optimizes the privatization process.

This includes streamlining regulatory frameworks, simplifying transaction approvals, and enhancing public awareness.

Despite these promising prospects, the survey indicates that deal sizes might stay moderate. PE investors are navigating tough conditions and expect a rise in exit activities, particularly through secondary sales.

With 62 percent of East African respondents are optimistic about the economic climate improving over the next year—up from last year’s more cautious expectations. The survey reflects a growing confidence in the region’s investment potential.

Only 34 percent anticipate the economic climate to remain stable, pointing to a hopeful outlook for Kenya’s investment landscape.

This sentiment signals a sustained positive trajectory for private equity activities in Kenya, marking it as a region ripe for growth and opportunity despite broader economic challenges. RT Staff Reporters

South Sudan President Salva Kiir speaks at the launch of the Kenya-led peace talks in Nairobi on Thursday (PPU photo)

South Sudan President Salva Kiir has commended the spirit with which the Kenyan-led peace process was progressing, citing a need for peace and stability to be restored so that economic recovery and development.

In a statement broadcast on the state-owned television (SSBC), South Sudan’ Information minister, Micheal Makuei Lueth said President Kiir met and held talks with the government delegation and the opposition, civil society organizations, faith-based groups participating in the Tumaini peace process in Nairobi, Kenya.

“His Excellency President Salva Kiir was in Nairobi as part of the endorsement of the former prime minister, Honourable Raila Amolo Odinga as a candidate for the Chairperson of the African Union Commission. And since his excellency the president of the Republic of South Sudan is also the chairman of the Eastern African community, he attended the endorsement in his capacity as the chairman of the region which has now nominated the candidature of Honorable Raila Odinga. He also attended as the president of one of the countries in the region whose leaders also attended,” explained Makuei.

He added, “It was therefore an opportunity for the president to meet and be briefed by our delegations on the Tumaini initiative. He met with our delegation, also met with the opposition and the civil society organizations as well as members of the faith-based groups”.

The minister said the South Sudanese leader further appreciated the progress of the talks and pledged that he would take the responsibility to discuss with the signatories to the peace agreement in Juba and to agree on the way forward.

Lual Deng Marach, spokesman of the South Sudan opposition alliance described the decision of President Kiir to visit and hold talks with them as a “historically important gesture”, saying it would add impetus to the process in the course of the process.

Marach said President Kiir had shown strong interest in promoting peace ahead of anything else to foster lasting peace and move the country forward toward stability and prosperity.

He emphasized that national unity and a shared commitment to peace must be the guiding principles in the ongoing negotiations to secure a brighter future for all South Sudanese.

The President made the remarks earlier today during a crucial meeting that brought the participation of both government and opposition delegations, including the civil society representatives in Nairobi. The mediation team, led by seasoned mediator General Lazarus Sumbeiywo, facilitated the discussions between the government delegation and the holdout opposition groups.

The peace talks, which have been ongoing in the Kenyan capital for three months, have seen promising and enormous developments, according to officials closely involved in the process since its inception earlier this year. (ST)

Sen. Ben Cardin (D-Md.) delivers remarks urging diplomatic intervention in Sudan, Aug. 29, 2024. Cardin is the chair of the Senate Foreign Relations Committee. (C-Span via Senate Foreign Relations Committee)

A United States senator, Ben Cardin has recognized the imperiled state of the people in Sudan’s North Darfur state capital, El Fasher and urged the diplomatic community to take immediate action to the stop mass atrocities from continuing.

“The people of El Fasher, already devastated by bombings and shelling from the Sudan Armed Forces (SAF), now face an imminent threat from the Rapid Support Forces (RSF), which is massing troops for another brutal assault as part of their ongoing campaign of destruction across Sudan,” he remarked.

Cardin, a member of the Senate Foreign Relations Committee said those living in famine-stricken Zam Zam camp are now also at dire risk of mass atrocities should the RSF launch this offensive. “I urge the entire diplomatic community — bilateral, regional, and multilateral partners — to unequivocally demand that the RSF, the SAF, and their allied forces immediately stand down.

The international community must be ready to deploy every diplomatic tool to prevent this attack — including the renewal of the current U.N. arms embargo on Darfur and its expansion to cover the entire country — and to pressure all parties to end their horrendous assaults on the Sudanese people and provide cross-border and crossline access for humanitarian assistance,” explained the Senator. “Those responsible for these abuses, along with their enablers, must face justice. I stand with the people of Sudan in their continued pursuit of peace,” he added.

The U.S. and Saudi Arabia have been making efforts to halt fighting between Sudan’s army and paramilitary Rapid Support Forces (RSF). The lack of progress at the talks in Jeddah ruined hopes for the resolution of a conflict that has displaced more than a million inside and outside Sudan, decimated the economy, and triggered ethnically driven massacres in Sudan’s Darfur region.

Talks in Jeddah were first suspended in June and resumed in October. Another round in Geneva last week adjourned with no new agreement. However, Sudanese sources at the talks said after commitments to calm the rhetoric, capture Al-Bashir cronies and facilitate humanitarian assistance went unfulfilled.

Representatives for the two sides, who were not meeting face to face, remained at odds over the RSF’s occupation of much of Khartoum, the sources said. The army has demanded that the RSF withdraws to specific bases and rejected an RSF counterproposal that it vacates civilians’ and set up checkpoints around the city. ST

Ruth Nankabirwa, the minister of Energy and Mineral Development, used her second media briefing of the year to raise hope about the progress in Uganda’s oil and gas industry, and allay fears over the delay in sourcing the much-needed debt for the construction of a crude oil pipeline, saying the country has entered a delicate period ahead of a major announcement from China in September.

Nankabirwa said works in the oil fields are going on smoothly – some ahead of schedule – as Uganda races to first oil sometime in 2025. She said French major TotalEnergies, the operator of the Tilenga Oil Project, had so far drilled six of the 31 well pads, with results already confirming the rich petroleum reservoir. 

TotalEnergies is using three oil rigs to do the job. So far, according to a press statement, 63 of the planned 426 wells have been drilled. The Tilenga oil field, according to the Petroleum Authority of Uganda, is estimated to have a combined volume of oil in place of 5.8 billion barrels of oil, with 874 million barrels of that said to be recoverable. 

Nankabirwa said some of the civil works at Tilenga’s Industrial area were almost complete, especially the drilling support base and the construction camp. The Industrial area will host the Central Processing Facility (CPF), where the crude oil from the field will be sieved before being channelled into an export pipeline that will terminate at its final point in the Chongeleani peninsula in Eastern Tanzania.

Nankabirwa said construction of the CPF is at 47.8 per cent. At the Kingfisher Field Development Area (KFDA), China’s Cnooc, the operators of the area, appear to be progressing well. With the lone oil rig on site, operated by COSL, nine of the eleven wells required for First Oil have been successfully drilled. 

In total, 31 wells will be drilled over four well pads. The KFDA is estimated to hold a volume of 568 million barrels of oil in place, with 186 million of that amount said to recoverable. Nankabirwa said a number of civil works at the KFDA have entered the final stretch, with those under the first and second package of works such as the construction of some of the well pads and infield roads nearly complete.

Construction of the CPF at the Kingfisher is already underway, with progress standing at 30.3 per cent, according to the press statement. Land acquisition at both the Tilenga and the Kingfisher development areas is almost done. And yet, all the progress will count for
nothing if works for the 1,445km East African Crude Oil Pipeline (EACOP) drag.

The shareholders of the pipeline, which will ship about 220,000 barrels of oil per day at peak from western Uganda to Tanga, have struggled to nail down about $1.2 billion in debt financing for the project, partly because of a spirited fight by environmental activists to bury the project.

A number of financial institutions have steered cleared of EACOP, which has been accused – without independently verifiable evidence – of having the potential to pollute the environment with its carbon emissions. The entire project cost for the EACOP is estimated at nearly $4 billion.

China has come in to plug the gap that many European bankers have left, with Nankabirwa saying that a recent meeting she had with Sinosure, a Chinese financial institution, was quite promising.

“We are now at a very delicate time. I was promised that in September, we shall seal the deal,” Nankabirwa said, referring to the negotiations surrounding financing for the EACOP.

Nevertheless, works for the EACOP, especially in Tanzania, are ongoing. Nankabirwa said construction of the thermal insulation plant in Nzega district in Tanzania was completed and commissioned. Already, 500km of line pipes have been delivered in Tanzania. And in both Uganda and Tanzania, some of the main camps and pipe yards have been constructed. By Jeff Mbanga, The Observer

 

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