President Uhuru Kenyatta has responded to the Pandora Papers leak. The leak linked his family with 13 offshore accounts; one of which has assets valued at over $30m, translating to Kshs3.3 billion.
The exposé accused that the Head of State and his family of owning billions of shillings in offshore accounts. This is the latest leak of financial documents that uncovered dealings of world leaders, politicians, and billionaires.
In a statement by State House Spokesperson, Kanze Dena, Uhuru said the report will help in enhancing the financial transparency required in Kenya and around the world.
He noted that illicit funds, proceeds of crime and corruption thrive in environments of secrecy and darkness. He added that follow-up audits will reveal those who cannot explain their wealth.
“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,” said the President.
“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.”
The BBC reported that President Kenyatta and six members of his family secretly own a network of offshore companies. The Kenyatta family was linked to 11 firms; one of which has assets valued at over $30m which translates to Kshs3.3 billion.
It was further reported that a foundation named Varies was set up by the Kenyatta family in 2003. Kenya’s former First Lady Mama Ngina Kenyatta is reportedly the first benefactor. Meanwhile, President Kenyatta is the second beneficiary.
According to The Guardian, the assets accumulated by the Kenyatta family include property in London.
Close to 12 million files from financial service companies in British Virgin Islands, Panama, Belize, Cyprus, the United Arab Emirates, Singapore and Switzerland were leaked. This is part of the latest leak.
The Pandora Papers revealed financial details of 35 current and former presidents, prime ministers, and heads of state. Other influential persons mentioned in the leaked documents include senior public officials like ministers and judges from over 90 countries worldwide.
Some of the global leaders mentioned in the leak include King Abdullah II of Jordan. The Aliyev family currently ruling Azerbaijan is also mentioned. Additionally, Czech Republic Prime Minister Andrej Babiš, Cyprus President Nicos Anastasiades, Ukraine’s President Volodymyr Zelenskiy, and Russia’s President Vladimir Putin are named.
Source-https://www.nairobileo.co.ke/
