African Development Bank (AfDB) has set more scrutiny for Kenyan firms bidding for its multibillion-shilling projects
The measures set will be followed to the latter and many Kenyan firms bidding for the AfDB projects are set to be chopped of as the lender moves to seal graft loopholes.
AfDB plans to hire quality assurance experts to enable greater transparency and oversight of its funded projects in the wake of financial scandals.
The lender recently banned nearly a dozen Kenyan firms over fraudulent practices, according to the bank.
“Bank’s portfolio in the region is facing a number of challenges and requires close monitoring. The consultant will participate in country/regional meetings to review project and portfolio related reports, including but not limited to project concept notes, project appraisal reports, project completion reports, country portfolio performance reviews reports,” said AfDB in an internal document seen by the Business Daily.
The bank said the consultants will also review and edit operations, strategy, and policy related proposals to ensure “alignment with Bank strategy objectives, quality standards, readiness and compliance with Bank policies. They will assist in the identification of problems related to the Bank’s portfolio performance and service delivery, and promptly undertake appropriate action.”
Some of the recently banned firms include Sinotec, Rockey Africa Limited, and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company, and Madujey Global Services.
Others are Express Automation Limited, Kenya Power contractor Chint Electric, Global Interjapan (Kenya) Limited, Techno Brain (Kenya) Limited, and its United Arab Emirates(UAE)-based parent company Techno Brain Global FZ-LLC.
A ban from the AfDB over fraud concerns may attract similar actions from other multilateral development banks.
