Kenya has closed in on its $500 million (Sh70.4 billion) syndicated loan earmarked for development projects in the country.
A syndicated loan is a loan offered by a group of lenders usually referred to as a syndicate, who work together to provide funds for a single borrower.
The Sh70.4 billion three-year and five-year Syndicated Medium Term Loan facility is a reduction from the $600 million (Sh84.5 billion) that the government had asked to borrow.
Obado's case proceeds today
The hearing of a case where EACC is seeking to recover Sh73 million in assets owned by former Migori Governor Okoth Obado will proceed on Thursday.
In their application, EACC argues that properties owned by Obado and his family were allegedly acquired through proceeds of corruption.
The commission is seeking the Courts nod to attach the governor’s multimillion shilling house-Loresho Ridge and luxury cars Land Cruiser V8 registration numbers KCK 997W and KCK 722B.
KNUT's Wesonga is dead
KNUT's second Vice National Chairperson John Wesonga has passed away at a Nairobi hospital after a long illness.
Kenya National Union of Teachers Secretary-General Collins Oyuu made the announcement on Thursday.
More details about his death are yet to be revealed.
One al Shabaab killed, 8 elite officers are injured in clashes
Kenyan security agencies ramped up their war against al Shabaab militants operating near the main border on Wednesday and killed one militant in Lamu’s Sirari area.
In a separate incident, the militants ambushed and injured at least eight members of the Special Operations Group in Mandera County, officials said.
The officers were pursuing the gang when they were attacked with a Rocket Propelled Grenade.
Osinde was killed in his Nakuru house
Investigators say they have found evidence to suggest ex-Treasury official Tom Osinde may have been killed in his Nakuru home before his body was transported to Migori where it was disposed of.
The killers tried to hide the evidence in the house by cleaning the blood stains therein.
The motive behind the murder however remains a mystery even as some of the investigators believe the killers targeted the deceased’s money.