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Richard Ngatia in trouble as IMF cracks the whip

Richard Ngatia: Chairman for Kenya National Chambers of Commerce and Industry

The diminutive man from Central Kenya Richard Ngatia, the owner of Megascope Healthcare is in trouble.

This is after the International Monetary Fund (IMF) ordered the Kenya government to track financial transactions of those involved in the KEMSA and other Scandals.

Megascope is alleged to have received over Sh40 billion for supply of nothing to KEMSA.

The global lender wants Kenya to seal all loopholes used by corrupt individuals within the government to steal public funds through proxies.

“Anti-money laundering (AML/CFT) risk-based supervision should be further strengthened using supervisory tools like onsite and offsite supervision to ensure banks adequately implement enhanced due diligence measures on politically exposed persons and other higher-risk customers vulnerable to corruption,” the IMF said in the latest programme review.

The IMF noted with concern that despite banks being required by law to report suspicious transactions mostly above Sh1 million, nothing has been done to the individuals engaged in mega corruption.

Central Bank of Kenya, Asset Recovery Agency and taxman are all headed by people from the same region who can decide to ‘look the other way’ and let corruption pass.

Richard Ngatia’s sins

KEMSA Scandal: Sh43 billion allegedly given to Megascope

Nation Media Group’s latest investigation into the disappearance of more than half of COVID-19 medical equipment donated to Kenya by Chinese billionaire Jack Ma has been the talk of the town ever since the chilling piece by NTV’s Dennis Okari was aired on Sunday’s primetime news.

In the report dubbed #COVID-19Millionaires, Okari exposed how the equipment, which included face masks, testing kits, and Personal Protective Equipment (PPE) found its way to neighbouring Tanzania, with a few individuals pocketing millions of shillings from the sale of what was meant to boost Kenya’s fight against the deadly pandemic.

How Galileo Club Owner Richard Ngatia Sold Jack Ma’s Equipment Donations With Government Officials

The consignment arrived at the Jomo Kenyatta International Airport (JKIA) on March 24th from Ethiopia and was received by Health Ministry’s acting Director-General Patrick Amoth who while addressing the press that day noted that the equipment would be immediately deployed to help the Kenyan people tackle the scourge of Coronavirus.

However, some very powerful people had already hatched a plan to steal the consignment and make a kill from it. The Ministry contracted two companies; Megascope Limited and Crown Healthcare Limited to offload the consignment from the airport.

The IMF has asked the government to tighten anti-money laundering laws and increase inspections on bank transactions of both physical and financial audits to expose networks of politically linked individuals.

Nairobi Metropolitan Services Healthcare

Over Sh900 million tender

When Uhuru Kenyatta launched the construction of 3 new hospitals in Muthua ( Uthiru), Kianda in Kibra, and Maendeleo Village in Mukuru Kwa Reuben, one name caught the eyes of those who were keen.

Megascope was the company selected for the tender.

Megascope Healthcare chief executive Richard Ngatia is definitely a titan in the corridors of power.

The construction of the hospitals is overpriced in this deal.

Richard Ngatia secret meeting.

Medical Equipment Services

Over Sh30 billion

This is one that was hatched to steal over Sh10 billion from county govts every year. It is not clear if the money ever hits the accounts of Central Govt, but as history shows, this money ends up in pockets of individuals.

Five international companies that won the MES tender include General Electric, Philips, Bellco SRL, Esteem, and Mindray Biomedical Company. They were to supply and equip hospitals countrywide with more than 95 high-tech machines to help manage diseases such as cancer and diabetes.

For some reason, the cost of the equipment cost counties Ksh. 200 million annually which has been deducted from their annual expected remittances by Central Government, which totals Ksh. 9.4 Billion annually.

This was a 100%+ bump-up from the initial Ksh. 4.5 Billion Contracted annually.

Money Laundering

As seen in the scandal at KeRRA, Govt officials siphon State funds through proxies and a complex web of related bank accounts to cheat existing money laundering laws.

Somehow, these cases never go far and we hope that IMF is sincere in its review and EACC and Kenyatta will crack the whip.


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