Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Telkom wants Sh10bn bailout

21 March 2012, 10:02

Nairobi - According to Daily Nation reports, Telkom Kenya, which made a record loss of KES. 18.2 billion in 2011 has sunk into a fantastical debt trap and is seeking a KES. 10 billion bailout from the taxpayers.

The country spent more than KES 90 billion of taxpayers’ money to prepare the company for sale to French Telecom in 2007, that resulted in a loss of 16,100 jobs in five years.

In what is turning out to be one of the messiest privatisation transactions in recent times, the government surrendered its crucial fibre optic network as a KES10 billion sweetener in the deal and now the firm has a week to repay KES 5.8 billion for a bank loan.

- For more visit Daily Nation

Read News24’s Comments Policy

Comment on this story
0 comments
Comments have been closed for this article.

Read more from our Users

Submitted by
Scoop Desk
Stop hiding behind Constitution a...

A URP MP has come out to accuse President Uhuru Kenyatta of failing to act over the Independent Electoral and Boundaries Commission (IEBC) stalemate. Read more...

Submitted by
Scoop Desk
Police arrest grandson over grann...

Nakuru police have arrested a middle-aged man accused of killing his grandmother using a jembe at their home in Wanyororo Nakuru. Read more...

Submitted by
Manasseh
DP Ruto, US ambassador exchange w...

The US ambassador to Kenya Robert Godec has asked Jubilee government and the opposition to have dialogue with the IEBC to solve stalemate and looming political duels. Read more...

Submitted by
William Korir
Moi backs CORD IEBC protests

The CORD coalition's quest to have the IEBC disbanded through protests has an unlikely supporter. It seems. Read more...

Submitted by
William Korir
How Meru elders snubbed Raila

How Meru elders snubbed CORD leader Raila Odinga. Read more...

Submitted by
Victor Tinto
MP survives as his house goes up ...

The house of an MP has gone up in flames in Nairobi. Read more...