NAIROBI, Kenya — The Director of Public Prosecutions (DPP) has approved the prosecution of nine individuals, including three National Treasury officials and six business proprietors or company directors, over the alleged misappropriation of Sh1.57 billion under the Programme for Rural Outreach of Financial Innovation and Technologies (PROFIT).
The Ethics and Anti-Corruption Commission (EACC) investigated the alleged misuse of funds before forwarding the file to the DPP.
The DPP subsequently determined that there was sufficient evidence to prosecute the suspects.The PROFIT programme, which is supported by the International Fund for Agricultural Development (IFAD), was designed to improve access to affordable financial services for small-scale farmers and other rural communities.
According to investigators, the suspected irregularities involved the fraudulent disbursement and misappropriation of funds intended for the programme.
Investigators also established financial links between programme officials and some of the private entities that received the money, raising concerns over compliance with public financial management and accountability requirements.The nine suspects are expected to face charges arising from the alleged financial improprieties.
The EACC has said the investigation established sufficient grounds for criminal prosecution.The suspects remain innocent until proven guilty in a court of law.
The case is expected to put further scrutiny on the management of public funds and oversight of programmes financed through government and international development partnerships.
