File | Nation Media Group

How Kenya wasted time in Suswa with a broke company

What you need to know:

  • The company did not have any such capitalisation at the time of the application.
  • Its records indicated that at December 31, 2007, it only had assets of Sh10 million “and very thin capitalisation.”
  • A year later, it had Sh25 million assets and Sh17 million in cash.
  • In the geothermal sector, this is counted as peanuts and was not worth any discussion

The energy sector is full of brokers and speculators, and that is how one shell company came to prospect for geothermal in Suswa — in the hope that they could raise money with our resources and revamp their briefcase outfit.