@BdAfrica

MCAs default on car and house loans - 2 months ago, 21 Maý 12:37

David Mwere

At least five county assemblies are on the verge of losing millions of shillings in unpaid car loans and mortgages advanced to their respective members who failed to capture their seats in the 2017 elections.

According to Auditor-General Edward Ouko’s report for the year ending June 30, 2018 and tabled in the Senate, the affected counties are Nairobi, Busia, Nyamira, Kiambu and Kwale.

Mr Ouko says the county assemblies advanced huge sums of money to MCAs without any form of security, contrary to the Public Finance Management (PFM) Act, thus putting taxpayers’ money at great risk in case of default.

In Nairobi, 10 MCAs received car loans way above the recommended amounts.

The audit revealed a variance of Sh12.7 million between the total amount of car loans issued to the MCAs and the values indicated in the valuation reports by the Automobile Association of Kenya.

“It is evident that the loans issued to the ...
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