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BREAKING! African Development Bank sanctions Kenyan tycoon Kamau Wachira, Rockey Africa Limited and five other top companies over fraud

African Development Bank debars Rockey Africa Limited, its affiliates and CEO for fraudulent practices

African Development Bank debars Rockey Africa Limited, its affiliates and CEO for fraudulent practices

The African Development Bank Group has Wednesday, September 29, 2021, announced the 18-month sanctions against Rockey Africa Limited and its affiliates including Aerospace Aviation, Eva-Top Agencies, Sony Commercial Agencies, Beta Trading Company, and Madujey Global Services.

The Bank has also sectioned Mr. Robert Kamau Wachira, the Chairman and Chief Executive Officer of Rockey Africa Limited for 24 months,

The African Development Bank in a statement said the sanctions take effect from 5 August 2021. All six companies are registered under the laws of the Republic of Kenya.

During the debarment periods, Rockey Africa Limited, its affiliates, and Mr. Wachira will be ineligible to participate in Bank Group-financed projects.

Additionally, this debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the World Bank Group.

At the expiry of the debarment periods, Rockey Africa Limited and its affiliates will only be eligible to resume participation in African Development Bank Group-financed projects after implementing integrity compliance programs consistent with the Bank’s guidelines; and in the case of Mr. Wachira, after completing an accredited business integrity training.

The Support to Enhancement of Quality and Relevance in Higher Education, Science and Technology Project is aimed at increasing the number of qualified and skilled engineers in line with Kenya’s Vision 2030 priorities for science, technology, and innovation. The Project is co-financed by the African Development Fund, an entity of the African Development Bank Group, and the Government of Kenya.

The African Development Bank Group views corruption, fraud, and other sanctionable practices as highly inimical to the achievement of its mandate. In order to spur sustainable economic development and social progress on the continent, AfDB endorses a multipronged approach to combating these harmful practices. Consequently, IACD uses proactive measures including risk assessments and sensitization programmes to deter sanctionable practices and prevent their occurrence in internal corporate procurement issues and operations financed by the Bank Group.

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