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    1.0.24

    Kenyan Construction Firm Joycot Banned From AfDB Projects Over Fraud

    Fred
    By Fred Obura
    - September 27, 2023
    - September 27, 2023
    African Wall StreetInfrastructure
    Kenyan Construction Firm Joycot Banned From AfDB Projects Over Fraud

    The African Development Bank Group has announced a 15-month debarment of Joycot General Contractors Ltd, a construction company registered under the laws of Kenya, effective September 8, this year.

    According to the bank, an investigation conducted by its Office of Integrity and Anti-Corruption found that Joycot General Contractors engaged in fraudulent practices during a tender for the construction of reticulation sewers in Kahawa West, Kahawa Sukari, a component of the Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II, Kenya.

    The Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II, was aimed at improving access, quality, availability and sustainability of wastewater services in Nairobi City.

    During the debarment period, Joycot General Contractors Ltd. will be ineligible to participate in Bank Group-financed activities.

    At the expiry of the debarment period, Joycot General Contractors Ltd. will only be eligible to resume participation in African Development Bank Group-financed activities after it implements an integrity compliance program consistent with the Bank’s guidelines.

    AfDB Approves $175 Million Risk Participation Agreement facility for Eastern and Southern African Trade & Development Bank – Kenyan Wallstreet

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