Broke Italian Company Vanishes after Pocketing Sh15 Billion from Kenya Gov't

An Italian company accused of bribing some Kenyan Cabinet Secretaries in order to win lucrative government tenders has gone missing after pocketing Sh15 billion.

The Standard reports that the firm identified as Co-operativa Muratoi Cementisti Di Ravenna (CMC Ravenna) has abandoned three mega projects it was undertaking in the country after pocketing a whopping Sh15 billion down payment.

The company, which has allegedly been declared bankrupt in Rome, had won contracts for construction of mega dams in Nakuru and Elgeyo Marakwet Counties.

The two projects, Itare Dam in Kuresoi, Nakuru and Arrow Dam in Elgeyo Marakwet have seen little progress since the contract was signed a few years ago.

A week ago, CMC Ravenna was reportedly kicked out of two projects it had been contracted to undertake in Nepal in 2018.

The company's officials are reported to have flown out of the country to address the financial woes facing the company.

With the firm facing a financial crisis and having received a good share of the funds set aside for the projects, there are fears it might not return to Kenya to undertake the projects.

The government could be forced to re-award the contracts to other companies, meaning taxpayers have to dig deep into their pockets.

At least three Cabinet Secretaries are being investigated for allegedly receiving kickbacks from contractors engaged in mega projects in the country.

The CSs allegedly received bribes worth millions of shillings in Rome, Italy.

They are said to have traveled to Italy alongside other government officials to receive kickbacks from contractors in order to give them State tenders.

In exchange, the CSs are reported to have colluded with procurement officials to award the foreign firms contractors worth more than Sh7 billion.

Directors of the Italian company were summoned by the Directorate of Criminal Investigations (DCI) and have recorded statements over the allegations.

“Some of the things they [foreign firms] do in Kenya they can’t do in their own countries,” Director of Public Prosecutions (DPP) Noordin Haji is quoted by The Standard.