How the Moi, Kenyatta and Museveni Families are Plotting to take over Safaricom

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The meeting between retired president Daniel Moi and Ugandan president Yoweri Museveni had more to do with Baringo senator Gideon Moi’s ambition to rule Kenya and the family’s business interests in the neighbouring country.

Two weeks ago, Museveni while on an official visit to Kenya met the retired president at Nairobi Hospital though there were contradictions over the venue after Gideon tweeted they met at Kabarnet Gardens.

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“Today, Ugandan President, HE Yoweri Museveni paid a courtesy call on retired president, Mzee (Daniel arap Moi) at his Kabarnet Gardens home,” Gideon tweeted before pulling down the post.

The different venues of the meeting had prompted concerns on the retired president’s health and whether he was admitted in hospital.

Sources say Museveni is looking for a strategic communication firm to invest in Uganda to take the space to be left by MTN, where his family will be allocated shares.

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The Ugandan head of state is not opposed to Kenya’s Safaricom entering into the market. For decades, Safaricom has been trying to penetrate Ugandan market, but the going has been rough from deliberately set up hurdles by UG.

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According to sources, part of the discussions between the Mois and Museveni was how to enable Safaricom to penetrate the Ugandan market.
The Moi family, through an offshore company called Mobitelea, is a major shareholder in Safaricom.

In 1999, with Moi at the helm, the government allowed Vodafone Kenya to buy a 40pc share in the state-controlled Telecoms operator, Safaricom, for Sh4.35 billion. Moi then barred any other player entering the market so as to give Safaricom monopoly.

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Mobitelea which worked under anonymity amongst other responsibilities hitherto gave Vodafone “advice and assistance” on securing the investment, it later emerged.

In 2001 Vodafone granted Mobitelea share options in Vodafone Kenya at 1999 prices, enabling it to buy a stake in Safaricom.

Insiders say the Kenyatta family will also reap big once Safaricom makes a footprint in Uganda.

The Kenyatta family owned Commercial Bank of Africa, which is set to merge with NIC to create the third largest bank in the country, jointly with Safaricom runs the loan product, M-Shwari and Fuliza.

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The virtual banking platform has registered over 18 million customers in Kenya and once rolled out in Uganda the Kenyatta family is assured of minting billions of shillings.

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