Kenyan looters should invest locally – official

Kenyans embezzling public funds should be encouraged to invest their loot in the country instead of stashing it abroad, according to Auditor-General Nancy Gathungu.

Kenyans embezzling public funds should be encouraged to invest their loot in the country instead of stashing it abroad, according to Auditor-General Nancy Gathungu.

She said illicit financial flows, if allowed to be invested locally, could lead to more development in countries.

The World Bank estimates that up to $2.6bn (£2.1bn) is stashed in offshore bank accounts by Kenya’s ruling elite who enriched themselves from public funds, according to research released in 2020.

Ms Gathungu told a meeting in Nairobi:

She added that it was an approach being considered by auditor-generals in the region.

The comments drew varied reactions on social media. Some thought the auditor-general was being pragmatic, while others described it a surrender in efforts to streamline use of public funds.

The auditor-general is an independent constitutional office that monitors use and management of public resources in Kenya.

 

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