By JEREMIAH KIPLANG'ATMore by this AuthorThe embattled Kerio Valley Development Authority (KVDA) has been in the crosshairs of Auditor-General Edward Ouko regarding unexplained expenses or blatant abuse of power in the execution of key projects over the last eight years. Mr Ouko said the agency appeared to have predetermined the deal and only offered the tender advertisement later to cover initial misdeeds. From the auditor’s findings, the tender was awarded after a deal had already been struck with KCB. BIDDERSFrom the call to tender, Co-operative Bank, Housing Finance, Equity, Chase and CBA expressed interest. Chase offered the loan with the least interest of 12.5 percent.

Source: Daily Nation March 01, 2019 03:11 UTC