The Capital Markets Tribunal has declined an application by the industry regulator to consolidate two cases in which senior officials of Kakuzi have been accused of approving payment of millions of shillings from the agricultural firm to companies they formed without disclosing their interests.
The tribunal chaired by Paul Lilan said in a ruling that despite the fact that the cases arise from a series of the same transactions, the process followed by the Capital Markets Authority (CMA) could be different, leading to the different appeals.
