Kitui contractors to be auctioned by commercial lenders

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Kitui Contractors affected by the ongoing graft investigations into the tendering mess in Kitui County are having a rough time as commercial banks and auctioneers are chasing after their property in order to settle their loans.

They borrowed from lenders to implement Malombe’s tenders to the tune of Sh1.3 billion, commercial banks indicate they are unable to service the loans. The projects are now subject to investigations by the Ethics and Anti-Corruption Commission (EACC).

Commercial lenders have promised to go after the contractors after they defaulted payment agreement. Officials from lending institutions did not take corruption saga as an excuse to extend the payment.
Last month, EACC detectives looking into procurement irregularities raided several county offices and carted away heaps of documents into two pickup trucks. Source: Business Daily.

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