Auditor-General Edward Ouko Disowns Report on China Taking over Mombasa Port over Debt
Auditor-General Edward Ouko has disowned a report claiming that China may seize Mombasa port if Kenya fails to service Sh200 billion loan taken from the Chinese Exim bank for construction of the Standard Gauge Railway (SGR).
The said report claims that China would take over the Kenya Ports Authority (KPA) assets including the Mombasa port because the government used the property as security for the loan.
“The payment arrangement agreement substantively means that KPA’s revenue would be used to pay the Government of Kenya’s debt to China Exim bank if the minimum volumes required for consignment are not met as per schedule one,” reads part of the alleged report.
“Any proceedings against its assets by the lender would not be protected by sovereign immunity since the government waived the immunity on the KPA assets by signing the agreement.”
However, in a tweet on Wednesday afternoon, the office of the Auditor General has denied that Ouko authored or released the aforementioned report.
"Our attention has been drawn to reports that the Office of the Auditor General has released an audit report on Kenya Ports Authority for the Financial Year 2017/18. This is to clarify that the Office has not released any such report.”
The report has raised fears considering that China has in the past seized key assets in other countries due to defaulted loans.
The Chinese government is said to have taken over Hambantota port for a lease period of 99 years after Sri Lanka failed to show commitment in repayment of loan running into billions of dollars.
Comments
Kenyans are not stupid!…
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Kenyans are not stupid! Auditor-General Edward Ouko has been THREATENED by Uhuruto's govt and i sure do hope that he life is not in danger.
There is nothing to disown…
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There is nothing to disown.We know the truth.
The following people should be charge with Treason:
1. Jimmy Wanjigi
2. Uhuru Kenyatta
3. William Ruto
4. Macharia(Transport)
5. Rotich (Treasury)
6. Maina(SGR)
Just to name a few.
They never consulted the public so the issue of relinquishing the sovereignty of the port can be addressed.
Jimmy Wajingi did not even…
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In reply to There is nothing to disown… by Victoria (not verified)
Jimmy Wajingi did not even graduate university.
He was the middle man in these Chinese deals.
They tricked him and convinced him that he is smart.
Now he has attached himself to Raila because the truth his he was conned and there is nothing he can do.
Kikuyus and Kalenjin are not smart. Thats why they steal from the same government they depend on.
Now they are busy signing sovereignty away.
Diana if you wanna say or…
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In reply to Jimmy Wajingi did not even… by Diana (not verified)
Diana if you wanna say or blame anyone for evil done in Kenya true im not defending anyone but don't mention Kikuyu or Karenjin as tribes. Mention idividuals..because lots of those people you mention are the very very thieves who had made everyone poor in their country regardless tribes they come from.
Majority of Jubille…
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In reply to Diana if you wanna say or… by stevekamau (not verified)
Majority of Jubille supporters are Kikuyu and Kalenjin.
These two tribes cannot start pretending they did not support thieves and murderers even after Ocampo told them so.
The whole world saw Ocampo dragging these crimes against humanity criminals all the way to Hague.
So spare us the Nonesense that these two tribes are not accomplices.
Kikuyu and Kalenjins are not only sellouts, they are traitors.
They cannot be trusted with anything.
Penye MO-shi kuna MO-to.
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Penye MO-shi kuna MO-to.
Kweli kabisa na report…
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In reply to Penye MO-shi kuna MO-to. by Guest1 (not verified)
Kweli kabisa na report imetowaa mifano ya nchi za kiafirika ambazo ziko hatarini kwa maswala kama hayo na kuongezea uthibitisho wa Sri Lanka katika report hii mpya.
The Chinese have the right…
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The Chinese have the right to take away the collateral. If they (our leaders) mortgaged the port, so be it. What happens when you default on a loan? Can’t pay, won’t pay doesn’t work with the Chinese. The question to ask, What more has been mortgaged? We will soon be at the mercy of foreigners unless drastic action is taken to divert the course. Can the government come clean on this one?
The West has taken over our…
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The West has taken over our game reserves leaving millions in Laikipia landless. Why is nobody complaining? Stop this West's propaganda. They have lost to the Chinese. Period!
@njai hehehehe true.This is…
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@njai hehehehe true.This is wazungu evils propagandas about chinese having taken over the beautiful Africa.Wazungu colonialist missionaries raped our country for 55 years poverty,diseases went up they never build roads bridges railways comparing with what chinese have mananged today.If u ask me again n again wr beta off with chinese n if they happen to take over the port to recover their cash so be it.Hehehe wazungu wameumwa sana by chinese in Africa but well they had their chance for 55 years but did use it correctly!They kept yapping democrat democracy human rights n Aid nonsense with nothing to show.So warelaxe china the next supa powers.
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