Former CS Mucheru clarifies his role in Telkom acquisition.
Information and communication technology, Former CS Mucheru clarifies his role in Telkom acquisition .
In a 6B buyout, Mucheru explained that he has nothing to do with the buyout, nor was he part of the committee.
Speaking before the members of parliament, Joe Mucheru stated that Telkom buyout was discussed among the National Security Council members.
I had no role in the acquisition. My understanding is that JHL was acquiring shares from Orange Group, which was exiting the Kenyan market and that this was a shareholder transaction in which the National Treasury was responsible on behalf of the Kenyan government.”
“ I was not a member of the National Security Council or the National Security Advisory Committee and therefore was not privy to their deliberations except when I would occasionally get invited,” he added.
He however, explained that the buyout was not for shares, it was actually a repayment of loans owed by Telkom. He opined that this was actually a good thing given the dependence by government offices and security departments on the infrastructure of the communication company.
He stated,”In my opinion, the buyback was value for money now that the government owns 100 per cent of Telkom Kenya’s shareholding.”
“The government has already paid for the connectivity of the fibre cable. It is unfortunate that while all government agencies spend lots of money paying the private sector for the provision of connectivity, Telkom has the capacity to offer this support to all these agencies and in turn support Telkom back to profitability,” he added.
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Joe appeared before the National Assembly after Ex Treasury CS Ukur Yatani, in a money probe that is ongoing in the government