Beneficial Ownership in Kenya

Beneficial Ownership in Kenya

Public procurement in Kenya and the world at large plays an important role in the economic development of any country. It is the implementation vehicle by which service delivery is achieved. Due to the huge financial flows involved in public procurement, the sector is the most prone to corruption. (World Bank, 2016). Major corruption scandals in Kenya have revolved around public procurement. Billions of shillings have been lost through under deals in procurement which takes years to trace and recover. While corruption is one type of fraud, there is a big difference between more traditional fraud and corruption in that corruption involves the payment of monies stolen from a company, […]