Sharp Daily
No Result
View All Result
Friday, March 13, 2026
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

AfDB debars Kenyan firm Joycot for fraud in Nairobi Sewer Project

Judd Mutua by Judd Mutua
September 28, 2023
in News
Reading Time: 2 mins read

The African Development Bank Group (AfDB) has announced the debarment of Joycot General Contractors, effective from September 8, 2023, for a period of 15 months.

Joycot General Contractors is a registered construction company operating under the laws of Kenya.

The decision to debar Joycot General Contractors Ltd. comes after an investigation conducted by the Bank’s Office of Integrity and Anti-Corruption revealed the company’s involvement in fraudulent practices. These practices were related to a tender for the construction of reticulation sewers in Kahawa West, Kahawa Sukari, a key component of the Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II in Kenya.

Read more: KCB Bank scoops best auto finance award at AIA 2023

RELATEDPOSTS

Strengthening accountability to break Kenya’s corruption cycle

February 13, 2026

Calls for reform amid NCPB oversight concerns in fertiliser scandal

May 3, 2024

The Nairobi Rivers Basin Rehabilitation and Restoration Programme: Sewerage Improvement Project Phase II aimed to enhance access, quality, availability, and sustainability of wastewater services in Nairobi City, a critical initiative for urban development and environmental preservation.

As a result of the debarment, Joycot General Contractors will be ineligible to participate in any Bank Group-financed activities during the 15-month period.

Upon the expiration of the debarment period, Joycot General Contractors will only regain eligibility to participate in African Development Bank Group-financed activities once it implements an integrity compliance program that aligns with the Bank’s guidelines. This compliance program is intended to ensure that the company upholds the highest ethical standards in its future endeavours.

Read more: AfDB and Google sign agreement to boost digital transformation in Africa

The African Development Bank Group’s decision to debar Joycot General Contractors underscores its commitment to maintaining the integrity of its projects and fostering a culture of transparency and accountability in its operations.

According to a study done by the Ethics and Anti-Corruption Commission the Kenyan economy loses approximately KES 608 billion (7.8% of GDP) annually to corruption.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Why dividend yield directly impacts investment decisions in Kenya

Next Post

Sukuk bond approval demonstrates Kenya’s commitment to innovative, ethical finance

Judd Mutua

Judd Mutua

Judd Mutua is a journalist with wide ranging interests ranging from the world of finance to the latest in tech and business news. Off duty you can find him reading his favorite books and manga. Send tips via jmutua@thesharpdaily.com

Related Posts

News

Kenya’s renewed turn to Chinese loans signals a new phase in infrastructure financing

March 12, 2026
News

From the Strait of Hormuz to Nairobi: How the Iran-Israel-U.S. War Could Reshape Oil Prices, Trade and Inflation

March 12, 2026
News

KIICO 2026 and the growing focus on investment opportunities

March 12, 2026
News

Kenya’s 2026 investment outlook: KIICO and the capital market revival

March 12, 2026
News

Rostam Azizi moves to acquire controlling stake in nation media group

March 11, 2026
News

Fake degree crackdown: over 500 civil servants implicated in certificate fraud

March 11, 2026

LATEST STORIES

Kenya’s renewed turn to Chinese loans signals a new phase in infrastructure financing

March 12, 2026

From the Strait of Hormuz to Nairobi: How the Iran-Israel-U.S. War Could Reshape Oil Prices, Trade and Inflation

March 12, 2026

KIICO 2026 and the growing focus on investment opportunities

March 12, 2026

Kenya’s 2026 investment outlook: KIICO and the capital market revival

March 12, 2026

Rostam Azizi moves to acquire controlling stake in nation media group

March 11, 2026

Fake degree crackdown: over 500 civil servants implicated in certificate fraud

March 11, 2026

Understanding pensions and their role in financial security

March 11, 2026

Understanding equities in modern financial markets

March 11, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024