Treasury advised on Sh108bn Eurobond secured this week

Edward Ouko

The then Auditor General Edward Ouko addressing guests during the launch of a report titled ‘State Capture: Inside Kenya’s Inability to Fight Corruption’ on May 22, 2019 at the Laico Regency Hotel in Nairobi. The report was facilitated by Africa Center for Open Governance (AfriCOG).

Photo credit: File | Nation Media Group

What you need to know:

  • Utilisation of proceeds of 2014 Eurobond could not be traced since funds were fungible.
  • Last week’s virtual Eurobond fundraising campaign was oversubscribed by over four times.

The National Treasury will be required to keep a separate bank account that will be used to account for the proceeds of the new Sh108 billion Eurobond raised this week as it battles the ghosts of the 2014 Eurobond.

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