The much awaited report over the alleged scam pitting the Rift Valley Railways and the Kenyan and Ugandan governments is expected to be released anytime after a shareholders meeting called to deliberate the goings on after the company was privatised five years ago.  

Sources at the company intimate that the management has been locked in a day-long crisis meeting over what is emerging as the country's biggest privatisation scandals.  

The whole issue revolves around a concession agreement that was entered into between the Kenyan and Ugandan governments on one hand and Roy Puffet, former managing director of the new outfit that was to be the Rift valley railways after taking over from the Kenya Railways Corporation.

It has emerged that the two governments have not yet agreed on the management system that should be adopted after Roy Puffet moved from directorship of the company.

Of particular concern to the two governments must now be how the former managing director managed to manipulate the bidding process and won the concession to run the Kenya-Uganda Railways system for 25 years.

It as emerged that the tracking companies owned by Puffet had no capital base required to run a huge investment such as the Kenya-Uganda railways which had been valued at over $800m, or Ksh 60b.

The current loss making system that is the Rift valley railways may be expected to explain how it has failed to turn around the face of railway transport as expected at privatisation.