Business & Financial News

Kenya’s President appoints acting finance minister after incumbent’s graft charges

 

Kenya’s presidency Uhuru Kenyatta Wednesday appointed Labour Minister Ukur Yatani as acting cabinet secretary for treasury docket, a day after incumbent Henry Rotich was charged with corruption.

Yatani is a former lawmaker who served as ambassador to Austria and a regional governor before his appointment to the cabinet last year. He has a bachelors’ degree in economics and sociology.

Rotich had been in the finance post since 2013, pleaded not guilty on Tuesday to corruption charges in connection with tenders for the construction of two dams namely Kimwarer and Aror in Marakwet.

President Uhuru Kenyatta also replaced the finance ministry’s assistant minister or PS, Kamau Thugge, who was charged alongside Rotich, also pleading not guilty.

Italian construction company CMC di Ravenna, which is also implicated in the corruption investigation, has denied any wrongdoing and said late on Tuesday it was co-operating with authorities.

The two and a host of other officials are being accused of inflating the cost of building two dams in the west of the country to 63 billion shillings ($608 million) from an original cost 46 billion.

Prosecutors allege that advance payments were shared out in accounts belonging to the conspirators and their agents.

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