Efforts to unravel the Grand Regency saga went a notch higher yesterday when Kenya’s President Kibaki named a commission of inquiry into the controversial sale of the hotel to Libyan investors.

The head of state steps in two days after Kenya’s finance minister resignation following a successful motion to censure him by Parliament.

The team comprises a former chief justice, veteran lawyer as well as a former Member of Parliament. The commission will hold its sittings in public in Nairobi though it is at liberty to hold some in private whenever it deems it necessary.

The Commission has been tasked to complete its work within one month and has the mandate to inquire into the circumstances leading to the sale of the hotel, the role played by Finance minister, Central Bank of Kenya (CBK) Governor, CBK company secretary and any other persons involved in the transaction.
The team is also required to perform any other task that it deem necessary in fulfilling the terms of reference; recommend such legal or administrative measures as the commission may find necessary.

In a Kenya Gazzette notice, Kibaki said that the commission would, in the discharge of its mandate, receive views from members of the public and receive written and/or oral statements from any person with relevant information.

In that regard, Kibaki stated, the commission is at liberty to use any previous reports in the matter; receive expert opinion in any relevant areas; determine its rules of procedure and develop its own work plan; publish its rules of procedure in the Kenya Gazette; summon any person or persons concerned to testify on oath and to produce any books, valuations or any other documents that the commissioners may require and that the commission shall have all the powers necessary or expedient to effectively discharge its mandate, including the power to require co-operation from public officers from relevant institutions.
The technical team will also be required to sort out the finer details of the transactions and to report its findings and recommendations within one month.

Earlier the finance minister had declared he had no confidence in the probe that was undertaken by a sub-committee formed by the cabinet committee on Finance, Administration and Planning, which is chaired by Prime Minister Raila Odinga.

The team, headed by the Attorney General, declared the deal was faulty and recommended that the minister alongside others involved in the transaction step aside.
However, before finally deciding to step aside under pressure, the minister has said he can only trust an independent probe spearheaded by international experts.

The sale of the prestigious Grand Regency Hotel has been in the news since last April when it was revealed that the government had managed to recover the magnificent hospitality facility.

A fortnight ago, Lands minister brought the hotel’s sale into national focus when he called a press conference to reveal the hotel had been clandestinely been sold to Libyan investors with the collusion of the Ministry of Finance and junior officers in his ministry.