Kenya has started repaying Arror and Kimwarer Dam loans - to repay loans mpaka 2035

Ukichukua loan ya kujenga nyumba then you waste the cash on other things, bank apana taka story mingi eti you are unable to pay because you never constructed the house despite receiving the loan, lazima ulipe deni. The Italians want their money repayed.

Quote:

The loan was a total of Sh74.3 billion (578.2 million Euros) repayable over 14 years beginning May 2021.

“Kimwarer Dam loan of Eur258,688,881.72 repayable in semiannual instalments commencing 9th May 2021 and ending on 9th November, 2035. Arror Dam -loan of Eur319,620,697.07 Repayable in semiannual instalments commencing 18th May 2021 and ending on 18th November, 2035,” the debt register says.

There were also concerns that the contractor CMC Di Ravenna- Itinera JV had gone bankrupt even after receiving Sh7.2 billion in advance pay for the project.

Evidence presented in court showed that CMC Di Ravenna- Itinera JV received Sh4.3 billion on September 27, 2018 as advance payment for Arror dam. For Kimwarer, an advanced payment of Sh3.5 billion was approved on July 2, 2018.

The payment in two tranches for both Kimwarer and Arror dams was made to a web of associated companies in Kenya, South Africa and Italy.

https://www.businessdailyafrica.com/bd/economy/kenya-got-sh16bn-loan-arror-during-fraud-probe-3572770

the taxpayer should sue the government

This is a bad joke. We should know the people who squandered the money and hang them alive.

Kenyans hujiona wajanja wakiongea politics 24/7, yet politician anawatia nyuma, kila siku, bila utelezi, na hakuna kitu wanaeza fanya.

Acha ujinga bana, si kila mtu anajua ni ruto wenu, that’s why we call him arror here

Umbwa

Days after mwizi wa arror rotich kutupwa ndani, treasury received 16B in loan money from an Italian bank. Where did they direct the money to because the dam project had been suspended and the treasury CS relieved of his duties and behind bars. @johnpombe hebu tueleze kinagaubaga

All this under whose leadership?

we should be talking about the 7b paid as an advance. Paying a contractor some percentage of the Contract sum is procedural but this is always against a bank guarantee for the whole amount! How was this money lost yet (I presume) there was a bank guarantee covering the whole amount? The Contractor must also have provided a performance guarantee at contract signature date to guarantee the Employer and guard against non-performance on the part of the Contractor. How the Employer didn’t recall this guarantee is still amazing to me!
IMHO, government officials are paid by tax payers mo.ey to ensure that the government loses tax prayers money. I have been in Contract management business for long and I know all Contracts are crafted to the advantage of the Employer/Client!

And still Ruto is peddling “Hustlers’ Nation”…what a joke man!

Rotich anataka kuwa governor bana na kuna msee huko mosoriot atampigia kura tena aanze ku complain

the Italian govt Bank must have given the guarantees

These contracts were typed in River Road boss.

But not proofread by SH big shots? Mind you they were signed at the big house
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Hiyo ndiyo ilikua shida ya 50/50 govt 2013-17. One side of the nusu mkate was coming up with projects to steal from the tax payers and enrich themselves. Good that after 2017 uhunye kicked them out.

Hapo kwa advance na performance guarantee, inafaa tupewe explanation.

Though pia if you have ever acquired these financial instruments, you should be aware of the fact that you (as a contractor) can subtly play with the wording ya hio template, just tweak a word or two alafu unapeleka. Very few eyes are trained to spot such.

Time ya kuandikia bank kurecover ndo ua inageuka kizungu mkuti. Engineer hata anaeza jikunia juu ya stress.

Additionally, termination of a works contract is usually very expensive. Contractor anatambua fidic/europaid coc anaeza toanisha government vibaya. Kenha ua wanaregret kuterminate sbi. Walipelekwa court wakatoanishwa close to 2b. Mind you the project is a measly 5km road+ 1 interchange.

Thanks.to Uhuru’s jubilee government bad governance

In short unapongeza Arror.kwa kutia waKenya.manyu.bila lube

The main thief Ruto should be put on the gallow before you vote him in next year.I know you are his staunch support.
Juzi ametuma wa Pokot wakumalize huko Laikipia and you still for him

Jinga sana mbutaaAA uliza mwizi sugu ya sugoi ukimnyonya mboro asubuhi Sawa? [ATTACH=full]390122[/ATTACH]