Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Revealed: Former KBC boss apology over KES 770 billion payout before sacking

Faith Chandianya by Faith Chandianya
December 20, 2023
in News
Reading Time: 1 min read

 

Former Kenya Broadcasting Corporation (KBC) acting manager Samwel Maina apologized to State Department of Broadcasting and Telecommunications Principal Secretary (PS) Edward Kisiangani and ICT Cabinet Secretary Eliud Owalo before his sacking.

According to the letter seen by Sharp Daily, Maina owned up to the mistake he was accused of in the sack letter that was drafted by CS Owalo and the KBC board.

The MD had apparently offered USD five billion (KES.769.5 billion) to Channel 2, instead of the KES 5 billion as instructed by the parent ministry.

RELATEDPOSTS

Veteran journalist Tom Mshindi named KBC board chairperson

January 19, 2024

Top KBC official fired over unauthorized $5 billion intended payout

December 19, 2023

Maina acknowledged his error and notified the two superiors that he had rescinded the decision in a letter addressed to the CS and PS.

“I profusely apologize for not consulting yourself or the principal secretary of our ministry before writing the letter. I have also noted there was a grievous misrepresentation of the figure quoted in the letter.” I have forthwith withdrawn the letter and committed that such an error will not occur again, as the letter read in part.

The Cabinet Secretary for Information, Communications, and Technology, Eliud Owalo, terminated the appointment of Samuel Maina as acting managing director of the state-owned Kenya Broadcasting Corporation (KBC) on Tuesday over a commitment made by Maina to pay KES 770 billion in an arbitration case without proper authorization.

In a letter dated December 18, Maina pledged that KBC would pay the settlement to Channel 2 Group Corporation in the London Court of International Arbitration case No. 122233.

Owalo said Maina did so “without seeking the concurrence of the Ministry, National Treasury, the Office of the Attorney General, and the Department of Justice.”

Read more on:

Top KBC official fired over unauthorized $5 billion intended payout

 

Previous Post

Trump kicked off Colorado primary ballot over Capitol riot

Next Post

Nairobi among 10 counties on the spot  for not spending money on development 

Faith Chandianya

Faith Chandianya

Related Posts

News

Foreign Direct Investment

October 5, 2026
News

Kenya’s VASP Regulations: Prudential Safeguards Meet a Licensing Sequencing Problem

October 2, 2026
News

Pension planning for high earners

October 2, 2026
News

Dangote’s Lamu Refinery: Positioning Kenya as a Regional Industrial Hub

October 2, 2026
News

What Drives Lending Rates

October 2, 2026
News

Ethiopia’s Emerging Equity Market Tests the Investment Value of Liquidity

October 2, 2026

LATEST STORIES

Kenya’s Central Bank Rate on the line as core inflation rises

October 5, 2026

Stablecoins Move Beyond Trading as Digital Payments Enter a New Era

October 5, 2026

Open Finance Kenya Could Reshape Digital Payments

October 5, 2026

The Business Case for Outsourcing Your Pension Scheme

October 5, 2026

Foreign Direct Investment

October 5, 2026

Kenya’s VASP Regulations: Prudential Safeguards Meet a Licensing Sequencing Problem

October 2, 2026

Pension planning for high earners

October 2, 2026

Why investors need better information on troubled companies

October 2, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us

Sharp Daily © 2024