Stanbic Bank that is owned by CfC Group funded a political campaign in 2007.
The Bank which recently made a profit of Sh6.38 billion after tax for the year ending December 2019, donated Sh5 million to the ODM party 2007 elections kitty.
This was revealed by Wikileaks, the whistleblower site owned by embattled Australian national Julian Assange.
Wikileaks, in their file dump, revealed the intrigues before and after the disputed 2007 elections that ended in chaos that saw over 1300 Kenyans killed and over half a million more displaced both internally and externally.null
The bank which then operated with the pre-abbreviation CfC has since 2011 showed improvement in deposits.
Financial results released in March 2020, showed improved customer deposits and borrowing that boosted the lender’s earnings. Deposits rose by Sh5.2 billion to Sh224.7 billion from Sh219.5 billion the previous year. Borrowings also jumped by Sh2.1 billion to Sh9.1 billion last year from Sh7.1 billion in 2018.
Gadaffi links
The other financier of Raila Odinga presidential campaign in 2007 was the former leader of Libya Muammar Gaddafi. His son Saif Al Islam Gaddafi sent ODM over Sh53 million for campaigns.
According to a whistleblower report by the United Nations; in South Africa, Gadaffi’s wealth manager Bashir Saleh moved over USD 800 million (equivalent to Sh85.2 Billion) through the Stanbic Bank. The money which was first deposited at Stanbic parent Group Standard Bank of South Africa found its way into Kenya.PROMOTED CONTENT
Bashir was captured during the rebel uprising in 2011, that ended up killing Gadaffi, but amid mysterious circumstances managed to escaped to Niger. He then travelled to France, before coming to South Africa.
“(Saleh) has been named by numerous public and private sources as the person who manages funds from the former regime hidden in South Africa and throughout the rest of the continent,” according to a United Nations Security Council report which provided more details about the stolen assets from Libya.
A screenshot of Wikileaks document obtained from their file dump at https://file.wikileaks.org/file/ showing ODM Party 2007 election campaigns financiers
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