The strained relationship between President William Ruto and Mombasa-based billionaire Mohamed Jaffer is now an open secret. Reports indicate that Jaffer, once a beneficiary of the G-G oil deal, has begun to curse the Head of State over punitive taxes affecting his business.
Despite past tax battles, Mohamed Jaffer reportedly managed to maintain a monopoly in Kenya’s grain handling and LPG industry. However, the latest changes seem to have halted his dominance.
“Mzee anapiga meza akikumbuka jinsi mambo yanavyo endelea,” said a source who didn’t wish to be named.
All the same, Jaffer’s reaction contrasts sharply with his prior benefits from a multi-billion oil deal. This shift suggests significant displeasure with the new competitive landscape and challenging expectations.
Nevertheless, Jaffer’s goose was cooked when Ruto allowed Tanzania’s tycoon Rostam Aziz the CEO of Taifa Gas Group to set up the 30,000-tonne plant at the Dongo Kundu Special Economic Zone in Likoni, Mombasa a venture that deflated his market grip.
Ruto also announced the introduction of subsidized gas that would see prices slashed to the ease of poor Kenyans, this was a direct hit to the income of the billionaire.
Aziz had for years been denied licenses to set base in Kenya and this was attributed to Jaffer’s influence on the Uhuru regime given his close links with Raila Odinga who by then was closely knitted to the government.
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