Nairobi County MCAs Demand Unsecured Car Loans And Mortgages


Nairobi county assembly members (MCAs) have demanded that they be given unsecured car loans and mortgages.

They said that they do not understand why they were being asked for logbooks in order to access the loans.

The leader of majority Abdi Guyo accused his colleagues of trying to obtain the loans illegally. He reckoned that if an MCA wanted to access the loan all he had to do was sign a contract and get a logbook from the leader.

Guyo said that the law required that loans and mortgages must be approved by parliament and that they should have security.

Read:Car Dealers Forced To Sell Vehicles Cheaply As Political Uncertainty Grips Business

He said the tax payers will be forced to pay the defaulted loans of MCAs that were issued without security.

The Auditor general had also faulted the county assemblies for contravening the Public finance Regulations thus allowing MCAs to take car loans and mortgages without security.

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Written by Merxcine Cush

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