Business Daily·4 min read·hard
Gathungu, Nyakang’o flag Sh7.7bn charges for unused loans
D
David Mwere
✦AI Summary
Kenya's Auditor-General and Controller of Budget have flagged Sh7.7 billion in commitment fees paid for unused loans over a five-year period. The report criticizes the Treasury for poor debt management and borrowing funds before projects were ready for implementation.
Auditor-General Nancy Gathungu and Controller of Budget (CoB) Margaret Nyakang’o have flagged Sh7.7 billion in commitment charges for loans tapped but not used over five years, warning of violations of prudent use of public funds.
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