A dream doesn't become reality through magic. It takes sweat, determination and hard work.

Thursday 3 December 2015

Senate wants forensic audit on KQ and ex-bosses

Kenya Airways chairman  Evanson Mwaniki, Kisumu Senator Anyang Nyong'o and Kenya Airways CEO  Mbuvi Ngunze at Parliament buildings after appearing before the Senate Select committee inquiring into the affairs of the airline. Photo/HEZRON NJOROGE

Kenya Airways chairman Evanson Mwaniki, Kisumu Senator Anyang Nyong'o and Kenya Airways CEO Mbuvi Ngunze at Parliament buildings after appearing before the Senate Select committee inquiring into the affairs of the airline. Photo/HEZRON NJOROGE

BY GIDEON KETER

December 3, 2015

The Senate wants a forensic audit done on Kenya Airways and its former senior officials for accountability on the losses the airline has made.

The Ethics and Anti-Corruption Commission and the DCI should also investigate the matter, the Senate added on Thursday, when it adopted a committee's report on reviving the airline.

The Senate Select Committee led by Kisumu Senator Anyang' Nyong'o has been looking into KQ's affairs and tabled a report with recommendations on Wednesday.

The national carrier should resolve its fiscal crisis, the Senate said, following the recommendations that included the government's sale of its majority 29 per cent shares to the public.

The 14-member committee said KQ's three options are dissolving the board, recapitalising through a rights issue or acquiring additional shareholders.

“The shareholders should review and restructure the board of directors since, in the current composition, the management team is over-represented; this overrepresentation undermines the Board’s advisory role,” its report says.

The report has also recommended that the shareholders inject new capital into the airline to facilitate KQ’s turnaround, saying the firm has made huge losses.

The management team should also have the ability to “turn around and build the company”, it also says.

Members of the committee included Mutahi Kagwe (Nyeri), James Orengo (Siaya), Billow Kerrow (Mandera), Hassan Omar (Mombasa), Mutula Kilonzo Jnr (Makueni), Peter Mositet (Kajiado) and Daniel Karaba (Kirinyaga).

The others were senators Wilfred Lesan (Bomet), Naisula Lesuuda (Nominated), Agnes Zani (Nominated), Boni Khalwale (Kakamega) and Stephen Sang (Nandi).


No comments:

Post a Comment