23 C
Wednesday, November 25, 2020

How Kenyatta family took K24, Kameme Fm from Rose Kimotho

Must Read

13 principals die within five weeks after schools reopened

School Principals in Kenya: It is now nearly two months since schools were partially reopened in the country. The...

Coronavirus Pandemic to Cost Football Billions in 2020

While cultural events are being called off and bars are closing again, the football industry is trying it’s best...

From Survive to Thrive, working together for a better Africa

From Survive to Thrive, working together for a better Africa For most of us, 2020 has been a year of...

Kenyatta Family Net Worth: Do you know how Mediamax was taken from Rose Kimotho by the Kenyatta’s? This was the question that David Kiprono Kalya posed on his Facebook platform.

Apparently, according to the analyst, Ms. Kimotho could not service a loan which she had taken from the then Commercial Bank of Africa (Now NCBA). The loan had attracted extremely exorbitant interest rates, making it impossible for her to repay. The bank from which she had taken the loan was the property of the Kenyatta family.

Simple Homes masterminds strike again, con Kenyans millions

“Insiders tell of how when it had become a hard nut to crack, Muhoho (Kenyatta) looked her in the face and told her that it was time to let go,” said Kalya. “Rose Kimotho lost the company she had built from scratch.”

Ms. Kimotho battled some form of stress related depression. “She pulled herself together to start 3Stones TV. She had lost Kameme Fm, K24 and it’s adjoining assets which added on to the Kenyatta empire,” writes Kalya.

Kenyatta Family Net Worth
Ms. Rose Kimotho

Ms. Kimotho handed her business to TV Africa Holdings in October 9 2009. At the time, TV Africa Holdings was linked to the Kenyatta family. Ms. Kimotho had announced the sale and transfer of Regional Reach’s assets in a gazette notice published on August 14, 2009. The list of assets that were earmarked for transfer included radio and television broadcasting, rural marketing and other media initiatives.

At the time, the Business Daily reported: “Sources familiar with the deal say the transfer of Regional Reach assets to TV Africa is linked to the fact that K24 was set up with financing from a local bank in which the Kenyatta family has a major shareholding.”

Sex for freedom? Shocking tale of judge Ole Kantai and Sarah Wairimu

These revelations come in the wake of reports of an intended takeover of the Jomo Kenyatta International Airport by Kenya Airways. The takeover has been linked with the Kenyatta family.

“Of the Sh  23.5 billion that KQ owes, CBA is demanding for Sh. 8 billion in accrued interest. KQ is not about to make profit because it has a big wage bill, part of which is to lease planes from consortiums formed for the very purpose to milk it dry. Tsavo Ltd. Samburu Ltd. Know the men behind the proxies?” argued Kalya.

“Well, we can argue that this is nothing but business. However, CBA (was later reported to be) closing in on taking over major shares in KQ and by extension KAA. Meaning, not only will the first family have major interests in the mainland port which has been built for the SGR in their Naivasha land but also interests in Lapsset and Mombasa port,” Kalya further argued.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Latest News

LG Donates Puricare Wearable Air Purifiers To Frontline Healthcare Workers

LG Electronics in partnership with Opalnet Limited have donated PuriCare wearable air purifiers worth Kshs 5 million to the Kenya Medical...

Kenya now seeks Sh. 230 billion fresh loan from IMF

Kenya IMF Loans: Bloomberg: Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended...

This is how much it really costs to treat a Covid-19 patient in Kenya

Cost of Treating Covid: The Ministry of Health last week announced that  the National Hospital Insurance Fund will not cover treatment for Covid-19. Health CS...

How Nairobi pastor Julian Kyula accumulated, settled Sh. 100 million debt

Julian Kyula, a senior preacher at The Purpose Center Church in Nairobi, once accumulated a debt of up to Sh. 100 million. Mr. Kyuna made...

All employed Kenyans to start paying new tax to fund the unemployed

Unemployment Insurance Fund: Employed Kenyans could soon be required to pay a two percent tax from their incomes to cushion the unemployed. This new tax...

More Articles Like This