A fresh headache has been dealt to the former President Uhuru Kenyatta after the Kenyan treasury has failed to account for billions of shillings used during his tenure.
The government of Uhuru is said to have received $740 million (83.7 billion) back in August 2022 for the sole purpose of boosting the country’s foreign reserves.
According to the Institute of Public Finance, the treasury has not been able to explain the funding of specific projects which were funded through 41.8 billion shillings as money received from the International Monetary Fund (IMF).
A further explanation reveals that the Kenyan government by then being led by Uhuru Kenyatta made it clear to that IMF that it was going to use part of the 83.7 billion borrowed locally.
As it is now, the review from the Institute of Public Finance maintains that it’s review has not identified specific projects the money was used to fund.
This report raises more concerns about the manner in which the money was spend by the Uhuru Kenyatta regime with Ukur Yatani as the cabinet secretary for the treasury.
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