Members of Parliament have been “inadvertently misled” by a federal agency on a multimillion-dollar Kenyan cellphone investment deal, according to recent media reports.
Canada’s development finance institution, FinDev, invested $15.4 million with a Kenyan cellphone company on a promise that FinDev would sell its shares this year. Instead, it invested $27 million more in M-Kopa Holdings of Nairobi, a cellphone company that has never turned a profit, records obtained by Blacklock’s Reporter show.
