This archive report was first published on 14 July 2020.
On July 14, 2020, a report by the National Assembly's Public Investments Committee (PIC) revealed that former Kenya Investment Authority (KenInvest) Managing Director Susan Kikwai, now Kericho Deputy Governor, risked arrest over a payment of Sh10.6 million in a deal that had inflated nearly 50 times above the contract sum.
The payment arose from Kikwai's failure to settle a paltry Sh217,152 nine years ago for a consultancy service for the development of an investment policy framework. The delayed payment attracted a monthly interest penalty of 3 percent, forcing the investment agency to pay the Sh10.6 million.
According to the PIC report, Kikwai made payment to a consulting firm in the financial year 2014/15 and 2015/16 worth Sh6,671,718 being accrued interest and legal fees, and another Sh4 million later.
‘The amount was due on or before January 8, 2011,’ the PIC report stated.
Chairman of the PIC, Mvita MP Abdulswamad Nassir, said KenInvest delayed to issue instructions to its lawyers on the next cause of action even after they were reminded that the interest was accruing.
The PIC recommended that Kikwai be surcharged over the payments and directed the Ethics and Anti-Corruption Authority (EACC) to investigate the former head and prosecute her if found culpable.
