A screenshot of an article claiming that former President Uhuru Kenyatta has acquired a stake in the China Road and Bridge Corporation (CRBC), the company that constructed the Nairobi Expressway has been making rounds on social media.
The article dated November 27, 2023, claimed that Uhuru Kenyatta forced his way into ownership of the China Road and Bridge Corporation (CRBC), an established company with interests in civil engineering and construction projects such as highways, railways, bridges, ports and tunnels.
In the excerpt shared on social media, the author alleges that Mountain Hill Global Investment company allegedly owned by a member of the Kenyatta family together with Moja Expressway company are the owners of the Nairobi Expressway.
“Bloomberg has obtained documents showing how former President Uhuru Kenyatta’s family acquired equity in China Rood and Bridges Corporation (CRBC), Kenya.
“Documents in our possession indicate Mountain Hill Global Investment Co Ltd a company registered in Hong Kong acquired 40% of CRIIC-Kenya in August 2016. Mountain Hill is owned by President’s Uhuru Kenyatta’s brother, Muhoho Kenyatta and Njoroge Rageru,” the article read in part.
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Other Revelations Alleged by the Article
At the same time, the article noted that over 150 government projects in Kenya valued at over $48.9 Billion were built by CRBC in 9 years with former a former Transport CS getting a stake, and the funds generated as well.
Other projects noted under the alleged scheme include SGR, the Likoni floating bridge, the Dongo Kundu phase 1,2,3 and Lamu Port.
“On 20th September 2016, the new Finance Act (Act No. 38 of 2016) was adopted, repealing the 30% domestic ownership requirement for foreign companies established in the Companies Act 2015,” added the story.
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Did Uhuru Kenyatta Acquire CRBC?
To establish the truth in the matter, The Kenya Times searched the article on Bloomberg website, a reputable media company trusted for its publications of stories on finance, tech, data among others.
However, the article titled “Inside China Road and Bridge: How Kenyatta acquired 40% of world’s largest construction company” did not appear anywhere in the searcxh results.
We also did a reverse image search on the shared article and established that it did not exist in 2023, the purported time of its publication.
In addition, The Kenya Times established that the alleged author the article, Jason Schreier, had written to Africa Check, a renowned fact checker in Africa to inform them that the article was fake.
In his response to Africa Check, he said that the article was not published by Bloomberg and is not to be trusted.
Also, Jason is a Bloomberg reporter who covers video games, business, culture, labor, delays and other gaming world stories.
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