Tue, 10-Mar 2026

Search news articles
  • Home
  • AllAgricultureBankingAviationEnergyManufacturingTechnologyStartups
  • Geopolitics
  • Kenya Business NewsAfrican Business NewsGlobal News
  • Press Releases
  • Shows
  • Best Places to Work 2026
Subscribe
Events
Subscribe
  • Home
  • AllAgricultureBankingAviationEnergyManufacturingTechnologyStartups
  • Geopolitics

    Contact Us

    Media Queries & Partnerships:[email protected]

    About Us

    We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe.

    Disclaimer

    The information contained in this website is for general information purposes only.
    © 2026 Wallstreet Africa Technologies LTD.. All Rights Reserved.
    1.0.32

    KEPSA to Blacklist Firms in COVID-19 Cash Theft

    Jackson
    By Jackson Okoth
    - August 18, 2020
    - August 18, 2020
    Kenya Business news
    KEPSA to Blacklist Firms in COVID-19 Cash Theft

    The Kenya Private Sector Alliance (KEPSA), a powerful lobby group representing the interests of over 400 business associations and corporates, is pushing for the expulsion of firms implicated in the theft of COVID-19 funds, from its membership.

    This move comes amidst widespread allegations that some private firms and state operatives in the healthcare supply chains, may have diverted funds meant for supply of medicine and Personal Protective Equipment, intended for COVID-19 patients and health workers.

    “We urge the government to undertake an urgent, independent and transparent audit of the use of all COVID funds raised, including those raised under the aegis of the KEPSA-supported COVID-19 Fund Board, to ensure those found culpable of misuse are brought to book,” said Mrs Carole Karuga, KEPSA CEO in a statement.

    KEPSA is also appealing to its membership to expel any companies or individuals found to be involved in the embezzlement of COVID-19 funds.

    The lobby has rolled out a Code of Ethics for Business, a self-regulatory framework, that will allow its members to deal with errant firms or individuals.

    It is also pushing for amendments to the Public Procurement and Disposal Act (PPDA) Regulations to include a stipulation that the government only does business with those companies that have signed the Code of Ethics for Business.

    KEPSA wants mandatory online publishing of prices of goods that the government procures; and also an online publication of the procurement process for all products, services and projects undertaken by the state.

    Figures indicate that the COVID-19 Fund has so far raised KSh 3 Billion from corporates, foundations, religious institutions, multinationals and Kenyans to bolster the government’s war on the virus.

    The COVID-19 Fund Board is an entirely separate entity from the COVID-19 Emergency Response Fund and does not deal with the Kenya Medical Supplies Authority (KEMSA).

    All funds raised by the COVID-19 Fund Board, where KEMSA sits, have been used to purchase PPE and masks are fully accountable.

    ALSO READ:KEPSA, Mastercard launch fund for Virus-hit businesses

    The Kenyan Wall Street

    We are a leading integrated digital content platform providing in-depth business and financial news across Africa & the globeSubscribe
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Your edge in markets, powered by AI

    Explore cutting-edge insights with our AI assistant, delivering real-time analysis, personalized news, and in-depth answers at your fingertips.

    Sign Up

    Show me today’s top trades

    Explain the market in simple terms

    What’s my next smart move?

    Report Issue

    Wall Street Africa Business Intelligence

    Access exclusive news, expert analysis, and tools designed to give investors an edge.

    Fixed Income

    Real-time bond pricing with instant calculations, auction data, yield curves, and trend analysis for Africa’s fixed-income markets.

    Local and Global Insights

    Unique perspective with a blend of local and global news and analysis, tailored for African investors.

    Real-Time Economic Indicators

    Monitor inflation, currency movements, and other key economic indicators for African countries.

    Interactive Data for Local Markets

    Visualize trends and compare markets across Africa with interactive charts and tools.
    Wallstreet Africa
    Wallstreet Africa
    Wallstreet Africa