Raila Odinga's Spectre International Faces Auction Over Ksh7 Million Debt

A company associated with former Prime Minister Raila Odinga faces auction over Ksh7.7 million debt.

Spectre International Limited, based in Kisumu, accrued the debt after failing to pay for fuel delivered by Betric Kenya Ltd in 2016.

A Mombasa court has allowed Beatric Ltd to recover the money, plus interest, from the firm.

Mombasa-based Betric Kenya delivered 14,500 litres of fuel to the company for Ksh8 million between June 4 and July 18, 2016 but only a little amount was paid.

“The total amount payable in respect thereof being Ksh8 million, the defendant has made some payments leaving a balance of Ksh7.3 million,” Beatric Ltd mentioned in court papers.

The company mentioned that the defendant did not clear the debt within 30 days of delivery, as agreed, which has affected its operations.

The defendant, in spite of repeated promises, has failed to pay hence this suit.

Betric Kenya's directors remarked that in order to finance the transaction, it had borrowed money at an interest of five per cent that has been accruing on a monthly basis since 2016.

“The plaintiff’s claim against the defendant is for Ksh7.7 million, being the amount payable on account of the fuel delivered to the defendant and accrued interest now payable by reason of the delay in loan payment, which delay has solely been caused by the defendant,” the court documents read.

Spectre International is tied to Kisumu Molasses Company which is majority-owned by the Odinga family.