JUDGMENT OF THE COURT
The appellant is a State corporation under the parent 'Ministry of Information and Communication'. Between the years 2006 and 2008, the appellant started experiencing serious financial losses, variously characterized as: "substantial and intolerable loss" , "massive hemorrhage", and likened to a "sinking Titanic". The ministry was also alarmed and it ordered a forensic audit of the appellant's operations. The Kenya National Audit Office was called in, but it advised that external auditors be engaged. M/s Delloitte and Touche were then appointed and undertook a forensic audit between April and July, 2009. They identified the major source of the financial hemorrhage as a product of the appellant christened "Postapay".
Postapay was conceived in the year 2003 as an electronic funds transfer (EFT) product to facilitate instant transfer of money nationally and internationally, much in the same mould as the internationally acclaimed Western Union and Money Gram. But the a…