This archive report was first published on 3 December 2019.
Sameer Africa, a company owned by business magnate Naushad Merali, has been struggling with significant losses and depleted reserves. According to a report released in June 2019, the company's reserves had dropped to a mere Sh265 million.
Exclusive intelligence documents seen by Nyakundi Report have revealed the faces behind the company's 2018 loss-making year. The documents show that the individuals involved allegedly looted a substantial amount of money from the company.
Simon Ngigi Gachomo, who was appointed as Managing Director in October 2018, allegedly siphoned funds up until August 2019 when he resigned to pursue personal interests. He is accused of pocketing Sh21.5 million.
Engineer Erastus Mwongera, the chairman of Sameer Africa and the Kenya National Highways Authority, also took part in the massive looting practice. He allegedly stole Sh3.25 million and was paid Sh545,000 in sitting allowances in 2018, a 78.7% increase from the previous year.
Other individuals listed as being involved in the looting include:
- Ms Mary Ngatia, director and member of the audit, risk and corporate governance committee, who allegedly stole Sh960,000.
- Peter M. Gitonga, who was appointed acting Managing Director, allegedly made away with Sh940,000.
- Dr. Winnie Iminza Nyamute, chair of the audit, risk and corporate governance committee, who allegedly pocketed Sh880,000.
- Akif H. Butt, member of the finance and investments committee, who allegedly stole Sh860,000, with a sitting allowance that rose from Sh160,000 to Sh380,000, a 137.5% spike.
- Sameer N. Merali, member of the finance and investments committee, who allegedly pocketed Sh800,000, with a 300% increase in sitting allowances from Sh80,000 in 2017.
- Dr. Lydia Muthoni Mbuthia, the chair of the finance and investments committee, who allegedly pocketed the least at Sh480,000.
Overall, the company paid out Sh3,065,000 in sitting allowances in 2018, a 79% increase from the previous year.
