MinBane

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Archive for the tag “Funds”

Central Bank of Kenya: Regulatory Action against ABSA Bank Kenya PLC (09.04.2020)

Kenya: CBK & KDIC – Chase Bank (Kenya) Limited (In Receivership) – (17.04.2018)

Kenya: CBK Press Release granting license to Mayfair Bank Limited (23.06.2017)

Kenya: Update on the Process for an Investor to take an Equity Interest in Chase Bank (Kenya) Limited (In Receivership) – (02.05.2017)

Kenya: Chase Bank Limited (In Receivership) – (Been so since 07.04.2016) – (28.03.2017)

Opinion: Why is there so little sanction on Corrupt behaviour and why don’t the donors stop the funds?

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We should question the ability of certain leaders to be able to squander away government funds, donor-funding while keeping their citizens in poverty and neglect the civil service, the state functions and keeping the state fragile; so that the Executive can brown envelope the Members of Parliament and that other civil servants to get paid, instead of government salaries depend on being paid under table for government delivery.

This is not one nation problem, this is not a one continent problem, and this is a worldwide problem. Not only government acts like this organizations, multi-lateral organizations and businesses. Corporations and other LLCs are also misusing their fortunes and ability to generate wealth for their stakeholders through intricate and complex banking structure that fixes the profits away from the countries we’re they earn high profits; while squandering away the profits so that the owners and stakeholders gain massive funds and leave the consumers, workers and the nations as they keep the funds away from the State of real business.

Tax Avoidance

Why can I address the neglect of government in the same regard as tax-avoidance in modern business, because the same ethics and norms are made and regulated by the Parliaments, Executive Power and by the interests of politicians; that needs funds and create business in their constituency as they earn currency on opening business there. So with that in mind, the way the business is set-up and regulated are by admission from the political framework and laws, not to talk about tax-regulations together with multi-lateral agreements that either opens or closes doors for tax-fugitives from the profitable country.

The Government are the Sovereign Power, the ones that represent and distribute the resources and funds to their citizens through departments, ministries, institutions and programs that are sufficient to make sure of education, security and development of the country. That happens as they can either use their taxes, aid and loans to fund the government work. Well, they could if they wanted to represent the people who paid the tax and elected them.

One key reason for the maladministration and mismanagement from the government are that they are responsible for sham elections and rigging themselves in power; worst case scenario the government and executive took the power with the gun; so the responsibility is more on the ammunition instead of the transparency and accountability towards the citizens. The citizens are supposed to have safe-guards from corrupt behaviour and alleged graft; as the Auditor General and Ombudsman are supposed see through the files and budgets, together with registered procurements, so that the actual facts are the same as the planned efforts from the State.

That is why the breaking figures and knowledge of squandered monies from the funds. Something that shouldn’t be that easy to do or get away with; as so many leaders and executives have saved giant bank-accounts in Swiss Banks and in Tax-Havens. So the humble men from villages all of sudden own 30 luxury cars, 4 mansions and have a wife who spends a ministries months salaries on exclusive clothing and shoes in Paris and London. While the taxpayer are struggling to eat and feed their families, which is an issue that shouldn’t be there when the Executive and wife can have a cortege of 25 cars driving from their State House to their Ranch without any consideration.

Obama Stockholm

The worrying sign is that the International Monetary Fund, World Bank and other Multi-lateral organizations don’t sufficiently sanction this kind of activities or even punish the countries with this behaviour; except when the nations are on their back hunting wild goose. The United Nations and European Union, other Pacts doesn’t even sanction much either. The diplomatic tensions and the wish for resources sometimes stop the knowledge of the thievery, if not to save face of both parties as they doesn’t want the public of the nation importing to know about the maladministration.

What I am wondering with all the corruption scandals, with the rich executives and the haemorrhaging of monies from the state and businesses; It happens daily while the begging for funds from international community and also getting investors from the exterior to invest in business. These businessmen are set in function with civil servant and government officials that are corrupting the state; something that the world knows… and still keeps it going around.

Certainly the knowledge of this isn’t something in the shadow, some places all of this is in the spotlight and expected by the officials, as a second way of getting add-ons on their meagre salaries as the government doesn’t pay enough or on time for the Police Officers and Teachers to secure pay to pay for food and even rent. Therefore the system generate where the Government can’t even supplement funds for their own, while their leaders eat the most delicious stakes. This should be a warning, but the world moves on.

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What worries me… is how this keep on happening with different names, different places and with different funds, while the sanctions and the stopping of funding from the communities doesn’t stop; while the massive overload of stolen monies are hidden and the ability to use this banked currency in developing the state and nation, instead lost in trail of lies and deceit where the accountability got dropped in the ocean.

We should question these transactions and not accept these facts of life, this is the ones that steal the development and progress, steal foreign taxpayer’s monies into personal bank-accounts and private business of elites instead of the public functions as they we’re supposed to go.

I am just writing in frustration… and tired of seeing and hearing about the scandal after scandal… While the ones dishing it out are silent, while the punishment is not happening and the characters who are behind the thieving is walking like kings and queens in main-streets of capitals all around the world. That is what is bugging me. It shouldn’t be like this and the behaviour should be tormented, questioned and also charged for their stolen cash. This cash we’re not automatically made for and created for the Executive’s and their Elites; which isn’t justified. So why does it seem that some people are allowed to steal a country, steal a national treasury and the foreign exchange funds are walking scotch-free while hanging around the mayors and government-officials; but when a pocket-thief or a man stealing a goat, gets detained and not hired again.

The rules for this is provable not equal, not for all men are equal under god, except if you like shrimp. Well, that is not the case in this matter, there are too set of standards, the Executives and their Elites; while the citizens and public are a disgrace and can be disregarded easily, but the rich can get-a-way-jail-free-card! Peace.   

Press Release: Chase Bank Limited Kenya into recievership by the Central Bank of Kenya (07.04.2016) & Chase Bank Appoints new Board Chair (06.04.2016)

Chase Bank Kenya PR 07-04

Chase Bank Kenya Chairmen

NRM flagbearers for parliamentary seats to receive 20M each (Youtube-Clip)

IGP. Gen. Kale Kayihura discribes and argues for the UPF involvement in the tear-gas and violence at Soroti and Jinja recently

PM

We all have followed the recent events that UPF went bat-crazy on the consultant meetings that Amama Mbabazi had in Jinja and Soroti. Some places even had the pictures for a fighter airplane flying over the place that had the meeting in the Soroti. And all the tear-gas that they shuffled into the people who showed up the events should be not forgiven. What seems strange to people is the issues with campaigning, though Museveni did the same thing two weeks before in the same area as Mbabazi! The IGP Gen. Kale Kayihura didn’t talk about that… though… but the one feed you sure get shield by the UPF. So that Amama Mbabazi has fallen from the grace and throne and now the cronies of the government is showing its true color.

Gen. Kale Kayihura said earlier today to the press:

“When he asked to hold the first phase of the consultation meetings in Eastern Uganda, I was relaxed and allowed him to do so. However, Mr Mbabazi deviated from what the law provides for. He went ahead and organized and held public rallies yet he is not a presidential candidate there by provoking police to fire tear gas. He (Mbabazi) is still an aspirant” (…)”Don’t blame the police (for firing tear gas and live bullets at Mr Mbabazi’s supporters). Blame Mbabazi who organized and held illegal rallies in a market and near the schools. Don’t blame the consequences, blame the cause” (…)”an aspirant may consult in preparation for his or her nomination as a presidential candidate within twelve months before the nomination date” (…)”while consulting under subsection one, a presidential aspirant may carry out nationwide consultations, prepare his or her manifesto and other campaign materials, raise funds for his or her campaign through lawful means and convene meetings of national delegates” (…)”while consulting, the aspirant shall introduce himself or herself to the Electoral Commission and notify the relevant local council and the police of the area he or she goes to” (Daily Monitor, 2015).

He also said:

“An aspiring leader must be responsible” (…)”Police comes in when rights and freedoms of society is violated” (…)”Why not? We facilitated Mbabazi meeting at that place” (…)”Consultation mean exchange of views quietly. Why hurrying the campaigns?” (…)”Mbabazi must hold consultative meetings in confined place so that they don’t degenerate into rallies and campaigns” (…)”He [Mbabazi] should not defy the police” (…)”Mbabazi wanted to have two rallies including one in a market in Jinja. He wanted to build up mass of supporters from Iganga” (…)”I should have asked for specifics” (…)”They must be lawful. Why put rally in a market? Crime prevention is provided by law” (…)”Mbabazi should stop creating situations and blame us for the consequence (on teargas in Jinja)” (…)”Why aren’t aspiring leaders responsibility? Why did Mbabazi organize in a rally in a market and near school in Jinja?” (…)”Mbabazi is a clever lawyer, trying to use the public meetings for campaigns which are not authorized at this stage” (…)”Mbabazi is the one introduced the idea of town hall meetings. He is turning consultations into open campaigns” (TheInsider.co.ug, 2015).

Another report says that IGP said this:

“Accordingly, while you can go ahead and hold town hall meetings, we cannot clear you to hold your planned public meetings in the mayor’s gardens in Lira, in Pece Stadium, Gulu, and at the Boma grounds in Arua because that would be in violation of the Presidential Elections Act” (Mulondo, 2015).

If this wasn’t amazing quotes and telling how they are augmenting their ways. It should be put a light on especially with the knowledge of how the people who showed up to the meetings and the way the police acted towards its own citizens. So with the following post and updates from the events that you should look upon if you don’t know. Since then the words of the IGP will be utter nonsense from a police chief. Secondly you should also look into the history of Amama Mbabazi an seen the way he has gone through a wildfire from being one of the poster boys of the NRM to the independent candidate who now recently gone together with The Democratic Alliance. But that happen after the famous meetings that Gen. Kale Kayihura talked about! He is surely hold under surveillance since he can hold certain ways of meetings, but not the way the “clever laywer” wish to hold. Peace.

Bill Supplement No.12. 29th April 2015 – Uganda Parliament – The Anti-Terrorism (Amendment) Bill.

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