E-Clips:- Business Pictorial - Family In Deals Owns Billions In Investments

A Kenyan family linked to the Briton behind the Sh7 billion tender scandals has built a business empire spanning three continents.

The Kamani family, one of whom employed the man whose signature appeared on the controversial contracts recently cancelled by the Government due to public protest, were worth Sh1.3 billion by the end of October last year, after more than a decade of doing business in Kenya. Mr Chamanlal V. Kamani was worth Sh102 million, Rashmi C. Kamani Sh838 million and Deepak C. Kamani Sh390 million. Deepak Kamani was named in Parliament as one of the people behind the Sh2.7 billion passports contract deal which was described by the controller and audit-general as highly irregular.

Two permanent secretaries have been suspended over the deal. The mystery firm based in Liverpool, UK, which employed the Briton linked to the Kamanis, was forced to return the Sh91 million it had been paid as commitment fee ahead of the deal. The Briton, Mr Colin Flynn, is an accountant for property agents Saager Associates, which occupies the address given in contract forms as the home of Anglo Leasing and Finance Company, which is linked to the Kamanis. Besides the passports deal, Anglo Leasings Sh4 billion contract to build a forensic laboratory for the CID was also cancelled last week after critics disclosed that it had been paid Sh366 million for no work done and was about to receive another Sh464 million.

Deepak sister, Ms Sudha Ruparelia, owns Saager Associates, where Mr Flynn works when he is not signing multibillion shilling contracts on behalf of Anglo Leasing. Doing business in Kenya has changed the Kamanis fortunes. Their company, Unicorn Holdings Ltd, based in the UK and Kenya, has dealings with the world-famous Radisson Hotels and Resorts. It also owns the Hotelier Hospitality Academy in Goa, India. Radisson Hotels and Resorts is spread in both the US and Europe.

The deal between Unicorn and Carlson Hospitality Worldwide, which owns Radisson Hotels, was struck in November 2002, to advance business interests in India among other countries. The company owns more than 776 hotels and resorts besides six cruise ships. And Radisson White Sands Resort, Goa, was the first property of the joint venture.

The 160-room resort provides a blend of Goan culture, Indian tradition and modern trends, neatly woven together to meet international standards. Recreational facilities include bowling alleys and a well-equipped water sports centre offering para-sailing, banana boat rides, wind-surfing and water skiing. The business empire plans to launch an exclusive hospitality academy in Goa to train professionals in the hospitality industry from all over the world.

The company is investing Sh173 million, excluding the land cost, in developing the project. The academy will offer a three-year degree course and is expected to be operational in two years. "Unicorn Group Holdings is a multinational company based in the UK and Kenya with interests in trading, finance, computer software, telecommunications and hospitality," its website says.

"The firm is driven by the vision of its chairman, Mr C V Kamani, an entrepreneur from Rajkot, who made his fortunes in Kenya. The companys affairs are directed by the board comprising Rashmi and Deepak Kamani, Parag Mody and H M Pai." The Kamanis recently acquired Troupe International Limited, an Overseas Body Corporate engaged in Lending and Investment. It has lent money and made investments in the share capital of group or associates companies.

The Net worth of TIL was Sh322 million on September 30, 2003 against the equity capital of Sh336 million. Mr Deepak was named in Parliament and by the Public Accounts Committee in connection with huge contracts given to Anglo Leasing to supply passport equipment and build three forensic laboratories for the CID. Mr Flynn is also a director of Anglo Leasing the firm behind the suspect deals.