Many years of corruption and impunity have rendered East African Portland cement broke. Two weeks ago, this website broke the news that the giant Portland cement is cash-strapped, reports that were refuted by the management.
This is after the management failed to pay their fired staffers as per the court order.
But the company has finally admitted that they are cash-strapped. In a meeting, the giant Portland cement agreed to sell 600 acres of the company’s land in Athi River, to meet their financial obligations.
The land is worth Billions of shillings, we can confirm.
As at last week, auctioneers had threatened to attach properties of the giant parastatals, a move the company termed as “unfair”
Two weeks ago, East African Portland Cement Company chief executive Simon Peter ole Nkeri, who in 2016 was embroiled in a sexual misconduct legal tussle with a top executive Lucy Rimanto Molonket, the head of sales and marketing, was summoned by the parliamentary committee on labour after our expose.
This is after this site exposed how the East African Portland cement stopped the employment of over 400 contract employees in June 2018 and so far are not willing to pay the laid office staffers notice gratuity and CBA backpay from 2012 to 2018 despite staff having won a case at the commercial court before Justice Wasilwa.
The management, together with industrialization CS Adan Mohammed have been accused of syphoning Billions from the giant parastatal. So even if the land is sold, all the money will be looted if there are no serious changes at the top management level
The Portland looting deserves an independent investigation by DCI and EACC because this theft cannot be allowed.
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