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Fraud

Safaricom KPMG Audit: Who Are The Faceless Owners Of Impulse Promotions Limited?

In 2013, A survey, by a team of academics from Australia’s Griffith University named Kenya as the world’s easiest place to start a shell company. A Shell Company is one that exists on Paper Only.

In Most Cases, Shell Companies are used to defraud money from companies. It is usually a requirement that owners of a company are known to authorities for easy tracking for both internal auditing, external auditing and for regulatory purposes.

For a long time, Kenyans have believed that Anglo-Leasing like Companies are only used to launder money, loot and plunder in the public sector because the private sector has angels that are corruption free.

This myth that the Kenyan Private Sector has angels is misleading. The only difference between the private and public sector is that the Private sector invests in PR that dumbs down the masses and sells a non-existent clean image. But things change, Some of these PR Operatives are finding it hard to contain the heat from new media, especially Twitter, and blogs in regards to their dynamic nature of exposing various scandals.

From the Safaricom KPMG Report, Anglo-Leasing like Companies ( Shell Companies ) were used to steal from Kenya’s Leading Telco. Kenya had difficulties bringing into account those who defrauded Kenyan Taxpayers Billions through Anglo-Leasing- that was supposed to supply goods and services because of the opacity that surrounded it.

The Safaricom KPMG Forensic Audit Report exposed how some shell companies ganged up like Flies ganging up on a dead body and plundered the Telco. Some never delivered or did a mediocre Job because at the end of the day the aim of some of these Shell Companies is to maximize the profits.

A Few weeks ago, we questioned the ownership of Mosound – The Agency with mediocre roadshows. Up to now, we are yet to know who the real owners of Mosound are. The KPMG Auditors had tried to get their details at the Registry of Companies, all to no avail. The Probable explanation is that Mosound is owned by a Safaricom insider who knew the auditors were coming, bribed the registrar of companies to hide/remove their ownership details.

Safaricom engaged Impulse Promotions Limited to provide activation services in the hereunder attached categories.

But as it is always with Shell Companies, KPMG Auditors were never provided with the performance review details of this Agency. The performance review was to aid in knowing how it had performed according to the contracted terms.

Additionally, Impulse was to take Video and Photo evidence of all their activities, details the KPMG Auditors were never provided with.

Just like Mosound, The KPMG Auditors could not find the details of this agency at the registrar of companies. ” We undertook a Company search for this Vendor but did not find any records at the Company registrar’s office. According to an article on the Standard Media Website Dated 27th July of 2010, the Managing Director and Founder is Fred Rabongo ” Alleges the KPMG Auditors in the Voluminous Report.

Roughly Speaking, Safaricom engaged a Shell Company owned by Faceless guys and paid them Ksh. 164, 250, 676.85 !!!!!!!!!!! Damn !! Outright Insider Fraud Again ….

AIs Bob Collymore Still a CEO at Safaricom and where is the Serious Fraud Office?


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