@BdAfrica

Kenya eyes recovery of lost Anglo Leasing cash in Sweden deal - 8 months ago, 9 July 12:44

By: Bd Reporter

Kenya and Switzerland have inked a pact that paves way for reclamation of funds and property gotten through proceeds of graft and stashed abroad.

The deal, dubbed Framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK), was signed today by President Uhuru Kenyatta and Swiss counterpart Alain Berset during the latter's official visit to Kenya.

“We have seen, in the last few months, a new intensity in the fight against corruption in Kenya. Quite frankly, my Administration has shown that corruption cannot, and, will not, be tolerated,” Mr Kenyatta said Monday.

According to the presidency, the first assets to be targeted by the new framework will be funds linked to the Anglo-Leasing scandal that are hidden in Switzerland.

The deal is in line with the United Nations Convention against Corruption that provides guidelines aiding the recovery of stolen assets.

According to the agreement signed, assets recovered will go towards development ...
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Category: business news

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