Switzerland to Repatriate Sh230 Million Proceeds of Corruption to Kenya

Switzerland has initiated the process of repatriating to Kenya Sh233 million stashed in the country as proceeds of corruption.

During a meeting in Bern on Friday, President Kenyatta and his Swiss counterpart Ignazio Cassis agreed that their governments will work together to expeditiously conclude the process of repatriation of the funds. The two leaders emphasized the need to demonstrate that crime does not pay.

The Swiss government holds a total of $2 million in proceeds of corrupt activities but the money is yet to be restituted to Kenya due to the condition that the ongoing court cases on the same must be concluded.

Kenyatta reaffirmed Kenya’s commitment to the principles of the framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK) that was agreed upon and signed by the Governments of Kenya, Switzerland, the United Kingdom, and Jersey.

The two leaders also signed a Letter of Intent to cooperate on research and science. The letter builds on the Agreement on Training Cooperation for International Peace Missions signed on October 13th last year to further strengthen cooperation on training for international peace missions.

The two countries also signed a Memorandum of Understanding (MOU) to provide a framework of cooperation between the two countries to consult and exchange opinions at different levels on bilateral, regional, and international matters of mutual interest.

Being the first visit by a Kenyan president, Kenyatta said the visit demonstrated Kenya’s desire to reinvigorate the long-standing trade, economic and investment ties between the two countries.