Tycoons in half of tenders keep names, office secret
Nairobi, Aug. 5 -- Businesses which secured over 57 percent of tenders in ministries and parastatals kept their identity, addresses and office location secret in breach of the law, raising fresh concerns over transparency in State contracts.
Disclosures in the annual report of the Public Procurement Regulatory Authority (PPRA) show firms that secured 14,819 of 25,994 contracts failed to disclose their beneficial owners.
This points to struggles in unmasking shareholders of companies who secretly benefit from State deals through nominee accounts in efforts to boost transparency in public sector procurement.
The breaches look set to upset the International Monetary Fund (IMF), which pushed for enactment of the law that will force disclos...
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