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BREAKING NEWS: Wetang’ula withdraws from senate race

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Moses Masika Wetang’ula will not defend his Bungoma senatorial seat in the forthcoming general elections, Kenyas Dily Nation newspaper is reporting.

Ford Kenya has dismissed claims that the party leader  will contest the seat which he currently holds.

Mr Wetang’ula, one of the five National Super Alliance (Nasa) co-principals, did not participate in nominations, according to the party.

“Ford Kenya issued nomination certificates to all her candidates on May 4. (Mr) Wetang’ula was not one of them,” deputy party leader Boni Khalwale said.

There are fears that Nasa has stretched its risks too far by not having Mr Wetang’ula and Amani National Congress leader Musalia Mudavadi contest in the August 8 polls.

The two, besides Mr Odinga and his deputy, could remain “jobless” for five years if Nasa fails to ascend to power.

PROMISED POSITIONS

Together with Bomet Governor Isaac Ruto, they have been promised senior Cabinet positions in the Nasa line-up if the coalition forms the next government.

However, Mr Ruto will defend his seat and a fierce battle is expected between him and National Assembly Deputy Speaker Joyce Laboso.

Unlike the Senate race, the party has a candidate who will square it out with Governor Kenneth Lusaka.

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This has sent strong signals that Mr Wetang’ula, the Senate minority leader, could be the party’s choice for the seat.

CRITICISED

President Kenyatta has criticised the positions proposed to be shared amongst the Nasa co-principals, saying they are not in the Constitution.

“They have taken a year deliberating on how to share positions that do not exist in the Constitution,” Mr Kenyatta said.

But ODM leader Raila Odinga, the Nasa presidential flag-bearer, rubbished claims that the Constitution must be changed to accommodate the positions.

“We don’t need to amend the Constitution. The president can delegate some of his powers,” Mr Odinga said.

However, he added, the Constitution can be reviewed if Kenyans so wish.

The opposition has been insisting that the original Bomas draft Constitution that had the views of a majority of Kenyans was mutilated by some self-centred politicians.

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Diaspora

Blind 70-year-old Kenyan living in US pleads for help to return home – VIDEO

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Kenyans living in the diaspora have formed a WhatsApp group to try and help an elderly Kenyan man living in the United States to return home.

In a message shared in the Diaspora Messenger, a website that connects and updates the East African community abroad, the Kenyans have appealed to well-wishers to help Mr William Mwangi Kagwima, who is aged 70.

“One of our Kenyan brother, migrated to Worcester MA, in 1998. Like every other immigrant, he worked hard until last year when he started losing his eye sight and could not work anymore. He has endured severe hardship and has exhausted his savings. Mr Kagwima is requesting the community to send him back home to his family,” the notice reads in part.

They also shared a short video clip of Mr Kagwima speaking in Gikuyu and explaining how he ended up to be where he is today.s

source:nairobinews

READ ALSO:   VIDEO: Raila cheered on as he addresses mourners in Zimbabwe
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Varsity student commits suicide in Kitui, leaves suicide note

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A 24-year-old fourth-year student at South Eastern Kenya University in Kitui on Friday committed suicide by hanging herself.

Her body was found dangling from the roof of her rented house at Kwa Vonza trading centre in Kitui Rural.

Lower Yatta OCPD Charles Chacha confirmed the morning incident, saying the student, who was pursuing a Bachelor’s Degree course in Information Technology, left behind a suicide note.

Dear mum and dad, I am sorry I had to do this. I love you guys so much, but I can’t take it any longer [sic]. Life has become unbearable. I cannot live like this anymore,” read the suicide note allegedly written by the deceased.

Alleged suicide note left by the 24-year-old South Eastern Kenya University student

The student’s body was taken to Kitui Level Four Hospital mortuary for preservation.

Meanwhile, the lifeless body of a 40-year-old man was found hanging from a tree near his homestead at Mwakini Village in the same area.

OCPD Chacha said the deceased had gone missing since Thursday as earlier reported by his wife.

He as well appealed to students and members of the public to desist from taking own lives but rather seek help from parents or counsellors when faced with life challenges.

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The two bodies were taken to Kitui Level Four Hospital morgue pending postmortem examination, police said.

source:ureport

 

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Business

How Diamond Lalji became a bankrupt millionaire

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Picture this: Your friend asks you to guarantee his/her sacco loan. You automatically agree because you know him/her well. Besides, the sacco is known to be flexible with defaulters.

Sadly, things don’t go according to plan, life gets tough and your friend defaults. But his/her assets are not enough to recover the loan, so the sacco comes after you and other guarantors.

PETITION

Unfortunately, you can’t pay up, so the sacco files a bankruptcy petition against you and succeeds.

Within no time, you’re declared flat broke and an insolvency practitioner appointed to run whatever little exists of your estate.

This scenario is now real for thousands of Kenyans following a court judgement that declared former Cereal Millers Association chairman Diamond Hasham Lalji bankrupt on March 1.

The tycoon, whose business empire boasts no fewer than 16 companies in various industries, failed to repay a $4.8 million (Sh480 million) debt three of his companies owed American grain bulk handler, Cargill.

On January 16, 2017, Mr Lalji agreed to guarantee three of his flour milling companies — Premier Flour Mills, Maize Milling Company and Milling Corporation of Kenya — which had owed Cargill since it supplied them with maize in 2012.

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At the time, the three firms owed $5.2 million (Sh520 million). Milling Corporation owed Sh274.95 million, Premier Flour Mills Sh192.25 million and Maize Milling Sh48.95 million.

But after the businessman failed to pay up as agreed, Cargill filed an insolvency petition against him.

TITLE DEEDS

Mr Lalji on Friday filed an appeal against the bankruptcy order issued by Justice Francis Tuiyott.

The Court of Appeal will mention the case Monday and decide whether to suspend Justice Tuiyott’s order, as Mr Lalji looks to convince the appellate judges to dismiss the order permanently. Justice Tuiyott’s ruling is likely to create anxiety among loan guarantors, since they could meet a fate similar to Mr Lalji’s.

Justice Tuiyott ordered that Anthony Makenzi Muthui of Ernst & Young take the over management of Mr Lalji’s estate as a receiver manager to recover Cargill’s debt.

Usually, the appointment of a statutory manager to handle a bankrupt individual’s estate is left to the official receiver. But Justice Tuiyott held that the official receiver had accepted Cargill’s nomination of Mr Muthusi, and that Mr Lalji did not contest the arrangement.

Justice Tuiyott agreed with Cargill’s argument that Mr Lalji did not give adequate details on six parcels of land worth Sh330 million that he offered to sell to offset part of Cargill’s debt. The businessman faulted Cargill for turning down his repayment proposal, which included the six title deeds as security.

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DISCLOSURE

He also asked Justice Tuiyott to consider that his three firms had repaid Sh34 million since the insolvency petition was filed. But Cargill insisted that the Sh30 million was too little, since Mr Lalji had promised to pay Sh100 million.

Justice Tuiyott ruled that there was no evidence to verify the value of the land Mr Lalji pledged as security. “The identity of the properties to be sold is not disclosed and neither is a professional opinion of the value demonstrated. In the circumstances, a creditor would be rightly entitled to doubt the credibility of the proposal made.”

The court added that Mr Lalji’s failure to make a disclosure of all his assets and liabilities did not help his argument, because it is only upon such disclosure that the court can evaluate his ability to meet the offer. “And it cannot be ignored that the promise to pay the debt is by the very companies whose default led to the guarantee that has given rise to Mr Lalji’s apparent insolvency” Justice Tuiyott ruled.

Justice Tuiyott had ruled that Cargill was not unreasonable in turning down a repayment proposal by Mr Laji, which would have seen the debt repaid in instalments running through to April, 2023. After Cargill filed the insolvency petition, Mr Lalji proposed to give the firm the six pieces of land, which he was ready to sell, as security.

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source:nation.co.ke

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