PSs Jerome Ochieng, Joe Okudo, Dr Margaret Mwakima, and Ali Noor tour the LBDA mall. [Kepher Otieno, Standard]A loan taken by the Lake Basin Development Authority (LBDA) to build a mall has now risen to Sh4 billion due to accrued interest charged for failure to service the debt. LBDA agreed with the contractor to secure a Sh2.5 billion loan from the bank using the title as lien. LBDA says Treasury only needs to pay the Sh4 billion debt and the authority takes over the mall. This was after the agency’s Director of Investigations Abdi Mohamud said the mall project was scarred by bribery.

Source: Standard Digital March 06, 2021 19:12 UTC