Kenya Losing Ksh195 Billion Annually to Graft and State Capture

State Capture? Inside Tinubu’s Billion-Dollar Alliance with Gilbert Chagoury

In September 2023, the Bola Tinubu administration awarded the $11 billion Lagos-Calabar Coastal Highway project to Gilbert Chagoury’s Hitech Construction, allegedly without any competitive bidding or a transparent procurement process.  This raised eyebrows and prompted counterclaims from the Minister of Works, David Umahi, who insisted that the contract had been approved through due process. However, … The post State Capture? Inside Tinubu’s Bil…

Kenya Loses $1.5 Billion Annually to Corruption, Says AfDB - Metropol Digital

Kenya must urgently address corruption and financial mismanagement that are depleting public resources and stalling economic progress, the African Development Bank (AfDB) warns in a new report. The country loses up to $1.5 billion annually to corruption and illicit financial flows—money that could significantly improve health care, education, and infrastructure. In addition, public spending inefficiencies … The post Kenya Loses $1.5 Billion Annu…

Kenya Losing Ksh195 Billion Annually to Graft and State Capture

Kenya is losing as much as $1.5 billion (Ksh195 billion) each year to corruption, state capture, and financial mismanagement, according to a new report by the African Development Bank (AfDB). The funds lost through graft, illicit financial flows, tax exemptions, and inefficiencies in public spending are significantly undermining the country’s ability to finance its own development and economic growth. “Corruption and illicit financial flows cost…