Nairobi News

Must ReadWhat's Hot

DPP consents to release of Sh400 million frozen Rwandan investors money

The Director of Public Prosecutions (DPP) has okayed the release of $2.6 million (about Sh400 million) that has been frozen at a city bank account to Rwandan investor Desire Muhinyuza, a magistrate was told on December 28, 2023.

The amount was in contention between Mr Muhinyuza and a Kenyan trader namely Kirimi Koome.

Following the intervention by the DPP, Mr Muhinyuza will also assume total control and management of Stay Online Limited (SOL) Kenya which Koome was accused of swindling.

The court heard that Muhinyuza appointed Koome on April 1, 2023, to register SOL on his behalf while he (Muhinyuza) regularized his immigration status in the country.

He has since been issued with a work permit.

Appearing before Milimani senior principal magistrate Dolpina Alego virtually, two state prosecutors namely James Gachoka and Dorcus Rugut disclosed, “the DPP is not opposed to the unfreezing of SOL Bank account held at UBA Bank Nairobi with USD 2.6m (KSh400m) and releasing the same to Muhinyuza”.

As a consequence, Ms Alego ordered the DPP and defence lawyer Danstan Omari to file a signed consent to that effect, and “she will adopt it as the courts’ order”.

Ms Alego said since magistrate Enock Ekhubi who froze SOL bank account following a plea from the Directorate of Criminal Investigations (DCI) is away on leave, she will determine the plea by the  Muhinyuza who has reclaimed his company.

The move comes a day after Justice Alfred Mabeya declared Mr Muhinyuza as the beneficial owner of SOL Kenya Limited overturning a move by Mr Koome who registered it as his own on April 14, 2023.

In compliance with the judge’s order, the Registrar of Companies has since transferred all the SOL shares held by Mr Kirimi to Mr Ambrose Wamari Obara, who has been appointed a Director and shareholder by Mr Muhinyuza.

SOL has a nominal share capital of 5,000,000 with 50,000 ordinary shares each worth Sh100.

Also read: Kioni alleges plot to ‘illegally’ change the Constitution

Why Gachagua is ‘excited’ by rise in pregnant women in central Kenya