Amos Kimunya resigns

Posted on July 8, 2008 by kenyanobserver

According to Breaking News Kenya, Finance minister Amos Kimunya has announced his resignation. Mr Kimunya has resigned following nationwide pressure due to allegations of corruption in the handling of the sale of the Grand Regency Hotel.

It is reported that he made the announcement after consultations with his wife and President Mwai Kibaki.

The Central Bank of Kenya, which falls under the Ministry of Finance, sold the 5-star Grand Regency Hotel in the centre of the Kenyan capital to a company associated with Libyan leader Muammar Gaddafi. Members of Kenya’s Parliament accused Mr Kimunya of selling the hotel secretly. Mr Kimunya denies it, saying that Central Bank got more money from the sale than it had projected.

But how did the Central Bank of Kenya come to own a 5-star hotel? Click here to read more about the saga that has engulfed Kenya’s rulers in a miasma of corruption.

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