Home News Jacob Juma, The Business Man Who Threatened To Sell Government Assets

Jacob Juma, The Business Man Who Threatened To Sell Government Assets

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The late businessman Jacob Juma was the face of Erad supplies, a company that is involved in the maize fraud. Jacob Juma served in the company as the managing director.

Jacob Juma together with his co-directors was largely unknown until they receive a court order attaching the nation’s strategic cereal reserves.

And awaiting his sentencing today is the Sirisia MP John Koyi Waluke and Ms. Grace Sarapay Wakhungu, the company co-director. The directors’ problems began back in 2004 when Erad Supplied together with General Contractors Ltd was awarded a tender worth Sh778 million to supply 40,000 tonnes of maize.

Erad was one of the companies that the National Cereal and Produce Board (NCPB) contracted to supply the country with 180,000 tonnes of cereals.

MP Waluke Charged with Fraud and to be sentenced on Thursday this week

From the tender, Erad supplies were to be paid Sh19,465 per tonne on condition that the company would provide a performance bond of 10 percent of the quality.

The order jeopardized the country’s strategic food reserve that held about 2.2 million bags of maize with a proximate value at Sh6.6 billion.

The committee was told that the matter in question had been heard by nine judges who threw out NCPB’s case and upheld its claim for both storage charges and loss of revenue from the maize supply.

The PIC questioned the legality of attaching the property of a key food security institution when no supply was made.

In a report that was adopted by the Parliament, the PIC realized that the NCPB management had awarded the tender to Erad without consulting the Attorney-General, an action that smacked of connivance among Erad, the parastatal staff and some individuals in the Judiciary.

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