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How Agricultural Finance Corporation Boss George Kubai Secured Landing Spot After Unceremonious Sacking From NOCK

Agriculture Finance Corporation Managing Director George Kubai

Agricultural Finance Corporation boss George Kubai is a greedy man who has mastered the art of laying low and keeping his mouth shut so as to maximumly enjoy all the delightful flavours from chewing up sweet public funds.

In fact, prior to this blog extensively highlighting the evils he has perpetrated at the government-owned finance institution, a majority of our readers were not familiar with the guy’s name.

  1. Why Agricultural Finance Corporation (AFC) will collapse soon
  2. Staff Suffering As George Kubai Milks Cash-Strapped Agricultural Finance Corporation Dry
  3. CS Munya’s Sh5m Loan Sparks Distress At Agricultural Finance Corporation

However, those adequately conversant with news surrounding corruption-stricken Kenyan parastatals will vividly recall Mr Kubai as one of the forgotten products of endemic graft at the National Oil Corporation where he was General Manager for Downstream Operations under the scandalous reign of controversial CEO Maryjane Mwangi.

It was Ms Mwangi’s memorable exit in October 2019 that saw Mr Kubai temporarily promoted to the helm of the cash-strapped state agency that was still under scrutiny over the unexplained loss of petroleum products worth Sh900 million.

He took over from James Nyamongo, who was bundled out of office barely a week after being appointed on an interim basis to fill out the vacuum left by Ms Mwangi.

The Directorate of Criminal Investigations (DCI) had at the time launched a probe after nearly 900,000 litres of oil were allegedly stolen.

At least seven senior managers were interdicted to pave way for an audit into the theft.

Those suspended included an accountant, stock analyst, depot analyst, commercial manager and finance manager.

Interestingly, Mr Kubai somehow survived the purge and even went on to be awarded the role of temporarily handling a mess that he helped create.

Six months later, his short-term incumbency was brought to a halt following the termination of his contract by Petroleum and Mining Permanent Secretary (PS) Andrew Kamau.

His suspension was due to NOCK’s inability to meet its financial obligations as it struggled to recover from Maryjane Mwangi’s era of ruthless plunder.

His incompetency was shouting.

In a desperate attempt to stop his job from slipping away, Mr Kubai deployed all kinds of theatrical tactics.

On multiple occasions, he tried to coerce Cabinet Secretary (CS) John Munyes to arm-twist PS Kamau into cancelling his termination and reinstating him to the position through backdoor means.

When that did not work, he resulted in playing the tribe card.

In a letter dated 1st September 2020, CS Munyes wrote to PS Kamau, lamenting the increasing pressure mounted on him by Mr Kubai’s tribesmen from the Meru community who insisted his suspension was unfair.

“His termination has taken a political angle, as all leaders from Meru County – MPs, Senators and even the Governor have been calling my office complaining about it as no one should be victimized merely because he acted as CEO,” Mr Munyes noted in part.

Unfortunately, all his efforts hit the brick wall and he eventually had to go home, but thankfully, his well-oiled connections ensured his stay in the cold did not last long.

A year later, his clansman Peter Munya was now a heavily favoured, big shot CS running the lucrative and heavily-funded Agriculture docket.

It was the perfect timing for Mr Kubai to make a comeback to the big leagues where access to taxpayers’ money is unlimited.

As expected, the Azimio La Umoja’s point-man in Meru County did not waste any time.

In April 2021, Mr Kubai was recruited as a nominee for MD at the Agricultural Finance Corporation.

Interviews were conducted after which the shortlisting was done and the results were sent to the Board.

Three candidates were shortlisted and names were presented to CS Munya for gazettement.

A source intimate with the matter told cnyakundi.com that the agency moved to irregularly appoint Mr Kubai who came third in the interview rankings.

Reports indicated that CS Munya issued a directive to AFC Board Chairperson Franklin Bett to hold special board meetings by March 10 to approve the new CEO.

During his disastrous reign, Mr Kubai has wreaked indescribable havoc at AFC where oppressed staffers continue to express strong dissatisfaction over the poor running of affairs by the current administration.

They accuse Mr Kubai of allegedly converting the financial institution into his personal cash cow.

In three of our previous articles, this author shined the light on cases of increasing discrimination, tribalism, lack of staff motivation and work terrorism at the state-owned financial institution funded by taxpayers’ money.

Trusted insiders disclosed how Mr Kubai has been siphoning funds by unlawfully self-awarding staff loan allocations running to millions of shillings.

In 2021 alone, they said Mr Kubai irregularly diverted over Sh14 million into his personal bank accounts, devoid of all laid down codes and guidelines.

By April 2022, he had reportedly drained not less than Sh30 million from AFC.

This came at the expense of hundreds of workers who say they cannot access salaries, staff loans or house loans.


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