On Friday, April 14, Kenyan newspapers reported that financial sector regulators were probing an Eldoret firm over a fishy money trail in a KSh 10 billion fertiliser subsidy deal. Daily NationAn Eldoret-based company, Mashambani Farm Inputs, is under probe over suspicious transactions that have raised an alarm by financial regulators. In one instance, it withdrew KSh 10 million in cash claiming it was for payment of salaries normally done through bank transfers. Under the deal, KNTC was to purchase MiCrop fertiliser from Mashambani at KSh4,650, however, the company quoted KSh 6,150. After receiving part payment from KNTC, Mashambani Farm Inputs sent over KSh 320 million to one Alfred Rono.

Source: Daily Nation April 14, 2023 07:33 UTC