Business Daily·3 min read·medium
Tycoons in half of tenders keep names, office secret
P
Patrick Alushula
✦AI Summary
A report from Kenya's Public Procurement Regulatory Authority reveals that over half of state contracts were awarded to companies that failed to disclose their beneficial owners. This lack of transparency breaches local laws and complicates anti-corruption efforts supported by the IMF.
Businesses which secured over 57 percent of tenders in ministries and parastatals kept their identity, addresses and office location secret in breach of the law, raising fresh concerns over transparency in State contracts.
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