Kenya’s Auditor-General Nancy Gathungu has sounded a blistering alarm over Sh19.6 billion (nearly Sh20bn) in World Bank funds earmarked for affordable housing loans, declaring she cannot trace how the money was spent or confirm its proper use.
In a damning audit revelation that has reignited fears of financial opacity in President William Ruto’s flagship Affordable Housing Programme, Gathungu told MPs the funds—disbursed to the Kenya Mortgage Refinance Company (KMRC)—remain shrouded in mystery due to restricted access to records.
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