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MPs probe how firm minted millions from Kemsa in forex changes, cost variations

At the time, the USD exchange rate to Kenyan shilling was Sh86.

Photo credit: File

What you need to know:

  • Meditec Systems limited was contracted by Kemsa in 2012 for the construction of a bunker and civil works at USD3.3 million.
  • There are claims firm deliberately delayed the completion of construction works to siphon public funds through cost variations and forex changes.
  • At the time of the award, the exchange rate of the USD to Kenya shilling was Sh86.