The US Securities Exchange Commission (SEC) has suspended from trading a Canadian firm behind an alleged € 1.06 billion (Sh139 billion) loan to Kenya. In a statement, National Treasury cabinet secretary Ukur Yatani said Kenya lodged an official complaint to SEC over the documents and claims. ''The National Treasury requested SEC to investigate this matter with the potential to irreparably harm Kenya's fiduciary standing internationally,'' Yatani said. In a statement dated March 23, SEC said it had temporarily suspended Kallo Inc, pursuant to Section 12(k) of the Securities Exchange Act of 1934. The suspended firm claimed to have signed a loan agreement with the Kenyan government in the wake of rising cases of coronavirus in June last year.

Source: The Star March 26, 2021 00:56 UTC