The latest in the Rift Valley Railroad saga–how business is done in Kenya

New status in Rift Valley Railroad saga: Transcentury connections win the day.

Jaindi Kisero in The East African

“High-profile Kenyan investment house, Transcentury Ltd has earned a guaranteed position of chair of the board of the newly restructured Rift Valley Railways Investments, under a new deal struck with wealthy Egyptian private equity firm, the Citadel Group.

Rift Valley Railways runs the 1,200-kilometre metre gauge between Mombasa and Kampala under a 25 – year concession. The arrangement is spelt out in a new shareholders agreement with Citadel, which has been seen by The EastAfrican.

Hammered after months of lengthy negotiations, the agreement is largely viewed by insiders as representing a tactical retreat by the wealthy Egyptian equity fund to accommodate the interests of the politically- influential local shareholders of TransCentury.”

Ken

American lawyer. Took leave from corporate career to “assist” democracy in East Africa. After stolen '07 election in Kenya and violent aftermath I have tried to bring out truth of events for those who care in hope we can learn and do better.

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