The Informer
  • HOME
  • NEWS
    • NATIONAL
    • POLITICS
    • WORLD
  • CRIME WATCH
  • LIFESTYLE
    • RELATIONSHIPS
    • HEALTH
    • ENTERTAINMENT
    • MAN OF VALOUR
    • SOUL FOOD
    • WOMAN OF ESSENCE
    • TRENDS
  • VIDEOS
    • NEWS VIDEOS
    • CORPORATE
    • ENTERTAINMENT
    • SPORTS HIGHLIGHT
  • SPORTS
  • NAIROBI SEX CLINIC
  • MORE
    • BUSINESS
    • GRAPEVINE
    • SPECIAL REVIEW
    • OPINION
    • CONTACT US
No Result
View All Result
Advertisement
  • HOME
  • NEWS
    • NATIONAL
    • POLITICS
    • WORLD
  • CRIME WATCH
  • LIFESTYLE
    • RELATIONSHIPS
    • HEALTH
    • ENTERTAINMENT
    • MAN OF VALOUR
    • SOUL FOOD
    • WOMAN OF ESSENCE
    • TRENDS
  • VIDEOS
    • NEWS VIDEOS
    • CORPORATE
    • ENTERTAINMENT
    • SPORTS HIGHLIGHT
  • SPORTS
  • NAIROBI SEX CLINIC
  • MORE
    • BUSINESS
    • GRAPEVINE
    • SPECIAL REVIEW
    • OPINION
    • CONTACT US
No Result
View All Result
The Informer
No Result
View All Result
Home Business

Kakuzi on the spot over alleged shift of profits abroad and governance

by Ignatius Ouma
June 29, 2022
in Business, Crime Watch, News
Reading Time: 2min read
Photo/ Courtesy

Kakuzi Plc front gate.

Share on FacebookShare on TwitterShare on WhatsappShare on LinkedInShare via Email

Kakuzi is yet again on the spot over allegations of shifting profits abroad and corporate governance issues.

The Capital Markets Authority (CMA) has launched investigations inquiring on corporate governance perpetrated by its majority shareholder Camellia Plc and transfer pricing.

“We are looking at the company anchor shareholder which has a big say in the company after issues were raised by minority shareholders who feel that over time the big shareholders have been misusing their position,” a senior officer at the CMA said.

The market authority has also stepped-up surveillance of the company for irregular practices that have hurt small shareholders and farmers while benefiting majority owners.

Minority shareholders of the company had previously complained about being locked out of the company board, which was controlled by the British company Camellia Plc.

RelatedStories

IEBC suspend gubernatorial elections in Kakamega, Mombasa counties

IEBC suffer distribution mix-up, Mombasa receives Kilifi gubernatorial ballot papers

The multinational controls 50.7 per cent of Kakuzi through its holdings in Bordure Limited and Lintak Investments.

Kakuzi is also facing publishing cooking books challenges due to its majority owners, who have long excluded local shareholders from the company’s board of directors.

This comes as the agriculture firm is facing allegations of human rights violations including rape and violence.

The multinational had sued KHRC and Ndura Resource Centre, demanding that the lobbies withdraw claims of human rights violations on the multinational’s Murang’a farms, or provide evidence of the alleged violations by security guards manning avocado and blue gum trees.

The two lobby groups were vocal about violence meted out on Murang’a residents neighbouring Kakuzi’s farms in Murang’a.

A group of 79 Murang’a residents sued Kakuzi’s parent firm, Camellia PLC in the UK, following investigations by the two lobby groups.

Camellia PLC struck an out-of-court deal with the claimants, and paid them Sh696 million before settling their legal bills.

So far, the Kakuzi has asked the High Court to withdraw a suit that the multinational filed against two human rights lobbies.

Ignatius Ouma

Previous Post

8-year-old boy fatally shoots 1-year-old girl with father’s gun in Florida

Next Post

Gachagua offer to pay back money blocked in his accounts if Kenya Kwanza wins

More Stories

Gatundu South MP Kuria in talks with Kenya Kwanza Alliance ahead of August 9 polls 
Elections 2022

DCI summon Moses Kuria over voter rigging allegations

August 8, 2022
Photo/ Courtesy
Elections 2022

Court of Appeal temporary suspend use of manual register

August 8, 2022
Elog: Vernacular stations record high number of hate speech, disinformation
News

Elog: Vernacular stations record high number of hate speech, disinformation

August 8, 2022
Next Post
Photo/ Courtesy

Gachagua offer to pay back money blocked in his accounts if Kenya Kwanza wins

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT
  • Trending
  • Comments
  • Latest
Arap Uria, comedian.

Kenyan ‘Peter Drury’ lands World Cup project ahead of global bonanza

August 4, 2022
Photo/ Courtesy

Leaders condemn leaflet threats in Rift Valley ahead of polls

August 1, 2022
Azimio One Kenya Coalition IT specialist sued for allegedly obtaining Sh2million by false pretense

Azimio One Kenya Coalition IT specialist sued for allegedly obtaining Sh2million by false pretense

August 5, 2022
NMS DG Badi, Acting Governor Kananu on the spot over Sh410million irregularly paid to 17 law firms

Push for payment of unaudited Sh500million behind sabotage by garbage cartels, rogue City Hall officials

August 2, 2022
Photo/ Courtesy

Stakeholders increase funding to families in drought-prone counties

August 3, 2022
Photo/ Courtesy

IEBC suspend gubernatorial elections in Kakamega, Mombasa counties

August 8, 2022
IEBC suffer distribution mix-up, Mombasa receives Kilifi gubernatorial ballot papers

IEBC suffer distribution mix-up, Mombasa receives Kilifi gubernatorial ballot papers

August 8, 2022
Gatundu South MP Kuria in talks with Kenya Kwanza Alliance ahead of August 9 polls 

DCI summon Moses Kuria over voter rigging allegations

August 8, 2022
Photo/ Courtesy

Court of Appeal temporary suspend use of manual register

August 8, 2022
Elog: Vernacular stations record high number of hate speech, disinformation

Elog: Vernacular stations record high number of hate speech, disinformation

August 8, 2022

Top Stories

Photo/ Courtesy

IEBC suspend gubernatorial elections in Kakamega, Mombasa counties

by Stanley Lugalia
August 8, 2022
0

IEBC suffer distribution mix-up, Mombasa receives Kilifi gubernatorial ballot papers

IEBC suffer distribution mix-up, Mombasa receives Kilifi gubernatorial ballot papers

by Wangeci Thuo
August 8, 2022
0

World News

Space & Style Ltd director Winfrida Ngumi appointed KeNHA board chairperson

Space & Style Ltd director Winfrida Ngumi appointed KeNHA board chairperson

by Stanley Lugalia
August 8, 2022
0

Photo/ Courtesy

Whitman pledge to address compensation for 1998 embassy bombing victims

by Ignatius Ouma
August 7, 2022
0

Opinion

Digital world should gear toward promoting the common good

Digital world should gear toward promoting the common good

by The Informer
April 22, 2022
0

The urgency to redeem Nairobi is absolute

The urgency to redeem Nairobi is absolute

by The Informer
March 26, 2022
0

  • Contact Us

© 2022 | The Informer - All Rights Reserved theinformer.co.ke

No Result
View All Result
  • HOME
  • NEWS
    • NATIONAL
    • POLITICS
    • WORLD
  • CRIME WATCH
  • LIFESTYLE
    • RELATIONSHIPS
    • HEALTH
    • ENTERTAINMENT
    • MAN OF VALOUR
    • SOUL FOOD
    • WOMAN OF ESSENCE
    • TRENDS
  • VIDEOS
    • NEWS VIDEOS
    • CORPORATE
    • ENTERTAINMENT
    • SPORTS HIGHLIGHT
  • SPORTS
  • NAIROBI SEX CLINIC
  • MORE
    • BUSINESS
    • GRAPEVINE
    • SPECIAL REVIEW
    • OPINION
    • CONTACT US

© 2022 | The Informer - All Rights Reserved theinformer.co.ke

error: Content is protected !!