The receipt and disbursement of the Sh250 billion Eurobond proceeds were above board, an audit report shows. The audit was conducted by PKF Kenya who won the bid to audit the Eurobond. The auditor says there was sufficient evidence to show the proceeds of the sovereign bond were received into the Consolidated Fund. The firm said there was evidence that the proceeds were used to pay for authorised purposes. “There is sufficient evidence that all the proceeds of the Eurobond were either eventually received into the Consolidated Fund or paid out for authorised purposes.

Source: The Star March 14, 2019 16:34 UTC