Corporate News
Why Access Kenya’s AGM was suspended
AccessKenya directors, Mr Jonathan Somen (right) and Mr David Somen. Access Kenya board queries the half a billion shilling price for the metro fibre network. Photo/FILE
By MICHAEL OMONDI
(email the author)
Posted Friday, May 14 2010 at 00:00
Posted Friday, May 14 2010 at 00:00
The firm is also reeling form its botched buyout of an IT service firm Openview Business Systems, which is said to be draining Sh7 million monthly from AccessKenya.
Access Kenya paid Sh150 million for a 70 per cent stake in Openview in 2007, but later on bought the remaining 30 per cent for Sh18 million this year—a signal that the firm overpaid for the 70 per cent stake that was is now valued at about Sh42 million.
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