President Uhuru Kenyatta’s family has been exposed for owning a network of offshore companies for decades and stashing billions in offshore accounts according to a huge leak of financial papers.
According to records obtained by the International Consortium of Investigative Journalists (ICIJ) and shared with more than 600 reporters and media organizations around the world, Uhuru’s family is among several other names mentioned in the leaked exposes currently topping headlines.
Dubbed The Pandora Papers – 12 million files – it’s the biggest such leak in history and shows how Uhuru and his family of six have 13 offshore companies.
The Kenyattas’ offshore investments, including a company with stocks and bonds worth $30m (£22m), were discovered among hundreds of thousands of pages of administrative paperwork from the archives of 14 law firms and service providers in Panama and the British Virgin Islands (BVI) and other tax havens.
Documents show that a foundation called Varies was set up in 2003 in Panama, naming Mr Kenyatta’s mother, Ngina, 88, as the first benefactor – and Kenya’s leader as the second benefactor, who would inherit it after her death.
The purpose of the foundation and the value of its assets are unknown.
There’s no reliable estimate of the Kenyatta family’s net worth but its vast business interests span transport, insurance, hotels, farming, land ownership and the media industry in Kenya.
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