• April 15, 2024
  • Last Update April 14, 2024 9:48 PM
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President Kenyatta Speaks on Pandora Papers Exposé

President Kenyatta Speaks on Pandora Papers Exposé

President Uhuru Kenyatta has responded to the expose’, Pandora Papers, that was released on Sunday, October 3, 2021, by the International Consortium of Investigative Journalists (ICIJ).

The report revealed multi-billion secret financial accounts held by world leaders including President Kenyatta and his family, whom according to the expose’ have about Ksh3.31 billion stashed in foreign accounts.

In a statement released by State House spokesperson, Kanze Dena, the Head of State noted that the report would boost financial transparency in Kenya and other countries of the world.

The Head of State noted that corruption thrives in secrecy and darkness, adding that a follow up audit will flush out individuals who cannot account for their earnings.

“Whilst I will respond comprehensively on my return from my State Visit to the Americas, let me say this: That these reports will go a long way in enhancing the financial transparency and openness that we require in Kenya and around the globe. The movement of illicit funds, proceeds of crime and corruption thrive in an environment of secrecy and darkness,” President Kenyatta stated.

“The Pandora Papers and subsequent follow up audits will lift that veil of secrecy and darkness for those who cannot explain their assets or wealth,” he added.

The Pandora Papers linked President Kenyatta and six members of his family to a network of 11 offshore accounts bearing a total of $30 million (Ksh3.31 billion).

According to the BBC, the Kenyatta Family set up a foundation named Varies in 2003 in which former first lady Mama Ngina Kenyatta is the first beneficiary and President Kenyatta is the second. The foundation is based in Panama.

The investigation by ICIJ revealed the financial dealings of multiple Heads of State including; the King of Jordan, the presidents of Ukraine, Kenya and Ecuador, the prime minister of the Czech Republic and former British Prime Minister Tony Blair. 

“The International Consortium of Investigative Journalists obtained the trove of more than 11.9 million confidential files and led a team of more than 600 journalists from 150 news outlets that spent two years sifting through them, tracking down hard-to-find sources and digging into court records and other public documents from dozens of countries,” ICIJ said.

The probe revealed that the records – from the Panamanian law firm Aleman, Cordero, Galindo & Lee (Alcogal) – show that the Kenyatta family “owned at least seven such entities, two registered anonymously in Panama and five in the British Virgin Islands.”

“One BVI company owned a home in central London, according to the records, and two other companies held investment portfolios worth tens of millions of dollars,” ICIJ stated.

According to the papers, the Kenyatta family accumulated the wealth in offshore accounts since the reign of late former President Daniel Toroitich Arap Moi.

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