On Friday 5th July 2024, President Ruto announced the appointment of eight professionals, LSK president Faith Adhiambo included to audit public debt.
The Presidential Taskforce on Forensic Audit of Public Debt will audit Kenya’s public debt and give a report after 90 days.
Others appointed to the team include Nancy Onyango (Chairperson), Luis Franceschi (Vice-Chairperson).
Institute of Certified Public Accountants of Kenya (ICPAK) Chairperson Philip Kaikai, Institute of Engineers of Kenya (IEK) President Shammah Kiteme, Vincent Kimosop, Abraham Rugo, and Aaron Thegeya.
Firstly, the task force will verify the current stock of public and publicly guaranteed debt.
Secondly, it will run an assessment on whether the country obtained value for money concerning the terms of the loan.
They will calculate the cost of the projects financed, the return on investment, and equity.
It will also assess the adequacy of the Public Finance Management (PFM) framework safeguards for debt management and recommend changes in the control environment to strengthen the governance of the nation’s public debt management system.
The presidential appointment of the taskforce is cultivated by the countries unrest and demands by the youth for accountability of government.
Law Society of Kenya (LSK) President Faith Odhiambo has recently impressed Kenyans by fighting over the ongoing protests triggered by the controversial Finance Bill 2024.
She spoke out against extra-judicial killings, working to find, free and represent abducted and arrested protestors.
Our team led by council member @irene_otto secured the release of a total of 26 people, 25 men from Industrial Area Remand Prison and one lady from Lang’ata Women’s Prison. All the 26 plus 23 others, including minors, had been arrested following protests at Rongai last week and… pic.twitter.com/1q3QwmIVNv
— Faith Odhiambo (@FaithOdhiambo8) July 4, 2024
Adhiambo is also reminding rogue players about the law and ensuring that justice is swift. For this, she has garnered praise from far and wide.
The countries eyes are now set to the appointed taskforce waiting to hear and see the result of their three-month research and analysis.
Kenya is among top 5 countries with highest IMF debts, money that ‘in the eyes of many’ can not be accounted for.
During demonstrations some youths were seen chanting holding placards that say ‘Kenya will not be puppet of IMF’.
Also Read: LSK President Faith Odhiambo Calls Out The Three Arms Of Government