File image of Kenya's Auditor General Nancy Gathungu. Image via @OAG_Kenya.
The Kenyan government can’t account for about $83 million dollars earmarked for a Chinese-funded National Optic Fiber Backbone Infrastructure (NOFBI) project, according to a new report by the country’s Auditor-General. The A-G says some loan documents for the $175 million tender are missing, with available documents only covering $91.3 million.
“Total funding from Exim Bank of China could not be ascertained as the framework and concession loan agreements for Nofbi phase 1 were not provided for audit,” Nancy Gathungu, the Auditor-General, says in the report. However, sections 2 and 3 of the project are accounted for.
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Kenya hopes to renegotiate the loan for its Chinese-built Standard Gauge Railway to be repayable over fifty years, the country’s incoming Transport Secretary, Kipchumba Murkomen, said during his confirmation hearing ...
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