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Agency to audit Sh11tr borrowed funds on government projects

Agency to audit Sh11tr borrowed funds on government projects
Ethics and Anti-Corruption Commission (EACC) headquarters in Nairobi. PHOTO/EACC/Facebook
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The Ethics and Anti-Corruption Commission (EACC) is investigating government projects that benefited from borrowed funds that have seen the public debt rise to Sh11 trillion.

This emerged during the opening of a one-week workshop between the anti-graft agency and the parliamentary Justice and Legal Affairs Committee (JLAC) in Naivasha.

EACC chair Bishop David Oginde said the commission will look into projects undertaken by previous regimes as well as the current Kenya Kwanza administration.

“We are aware of the rising debts and the commission will continue with its investigations on current and past projects where the country could have lost tax payers money,” said Oginde.

Kenya’s borrowing appetite has seen president’s Ruto administration borrow Sh2.4 trillion since coming to power surpassing the previous set Sh10 trillion debt ceiling after MPs last year approved the country’s debt anchor to be pegged on a percentage of the Gross Domestic Product.

Tharaka MP and JLAC Chair George Murugara said the committee is working on a legislative framework that seeks to support and strengthen EACC’s operations, including an upward review of its budgetary allocation to expand its capacity to deliver on its mandate.

Murugara reiterated the committee’s support with the ongoing investigations on the country’s debts, saying government has to be accountable for its expenditure.

“We are happy that the rising public debt which stands at over Sh11 trillion is on EACC radar as the public needs to know how their cash was used,” noted Murugara.

According to the MP, calls for EACC to have prosecutorial powers is ill advised and could be subject to manipulation and could be used to foster personal and political interests

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