Kenya Probe Finds Dams That Got Finance Chief Axed Overpriced


(Bloomberg) -- Projects to construct dams in Kenya’s rift valley for a total of 50.5 billion shillings ($486 million), were found to be overpriced in an audit commissioned by President Uhuru Kenyatta.

The findings come less than three months after Kenyatta’s former National Treasury Secretary, Henry Rotich, and other officials were forced out of office over allegations that they conspired to defraud the government while implementing the projects.

Kenyatta canceled the development of the 22 billion-shilling Kimwarer dam because, based on the audit findings, it’s not technically or financially viable, the presidency said Wednesday in an emailed statement. Construction of the Arror multipurpose dam will proceed after adjustments that will reduce the cost to as low as 13.1 billion shillings from 28.3 billion shillings.

©2019 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.