in ,

Over Ksh4 Billion Uwezo Fund Missing As Auditors Fail To Trace Records

[PHOTO/ COURTESY]

Auditors from the office of the auditor general were unable to trace records for the expenditure of Ksh3.9 billion meant for small enterprises soft loans from Uwezo Fund.

In a report for the state-powered fund for the year ended June 2018, the auditor general Edward Ouko says that records of the loans issued or list of the groups that had accessed the credit were nowhere to be found.

“There were also no comprehensive loan listings and or aging analysis in support of outstanding loans. Consequently, the accuracy, completeness, validity and recoverability of the unsupported and unaccounted for loans to group balance of Sh3,920,225,398 cannot be confirmed,” noted the report.

Read: Ksh68.09 Billion Accumulated Loss Threatens To Bring Down Airtel Kenya

Also, Ouko and his team noted that debtors’ ledgers detailing loans issued since inception and repayments made over the years on account of any loans recovery were missing.

The fund targets women, youth and disabled persons to enable them boost or start business enterprises and promote self employment.

The report further notes that Ksh7.5 million was issued to persons whose personal numbers and job groups were not indicated in the imprests schedule.

Read: Motorists To Pay Ksh7,000 To Use New Nairobi-Nakuru Highway

Over Ksh10.1 million was issued to officers as imprest even before surrendering the previous ones that they took.

The report further revealed that Ksh492, 427 outstanding imprest was given to officers who had already left the fund.

Documents relating to the use of Ksh5.4 million for transport, traveling and subsistence allowance were also not availed for audit.

Over Ksh1.2 million was used to buy airtime for staffers, with Ksh260,000 worth of airtime being in excess of their applicable entitlement.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. He believes in unearthing societal rots that have been hidden from the public eye. He has also carved himself a niche in writing business stories. He has worked for various organisations including Kenya Television Service, Business Today among others. Follow him on Twitter @FmuliKE.
Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

igathe, vivo energy

Polycarp Igathe Leaving Equity To Rejoin Vivo Energy

otile brown

Otile Brown’s Cuddly Video With Socialite Amber Ray Sparks Reactions