Sharp Daily
No Result
View All Result
Friday, November 28, 2025
  • 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

Court suspends Ruto’s debt audit taskforce, cites constitutional concerns

Derrick Omwakwe by Derrick Omwakwe
July 10, 2024
in News
Reading Time: 2 mins read

A High Court judge on 8th July 2024 issued a temporary injunction against the establishment of Kenya’s public debt audit taskforce, pending a decision on a case challenging the process. Justice Lawrence Mugambi directed that the application be served to the Attorney General and other respondents within three days, with responses expected within seven days.

The case, filed by Dr. Magare Gikenyi and Mr. Eliud Matindi, argues that auditing public debt is constitutionally the responsibility of the Auditor General. President William Ruto had set up the taskforce the previous Friday, with a report on the public debt due in three months.

The High Court ruling stated, “Pending the hearing and determination of this application, an interim order is hereby issued prohibiting the respondents, or anyone acting on their behalf, from discharging any functions pursuant to Executive Order No. 4 and Gazette Notice No. 8261 Vol. CXXVI – No. 97, dated 5th July 2024, which established the Presidential taskforce on the forensic audit of the public debt.”

The petitioners contend that delegating the Auditor General’s role to a separate taskforce is a misuse of financial resources, especially amid calls for austerity. They argue that the taskforce, which includes appointees who are not professional auditors, would duplicate existing functions and contravene the constitution. Notably, LSK chairperson Faith Odhiambo declined her appointment, citing its unconstitutional nature.

RELATEDPOSTS

Kenya’s strategic debt pivot: Smoothing, Strengthening, Sustaining

August 27, 2025

Court upholds travel ban on chinese investor over KES 83.5 million tax debt

February 10, 2025

The taskforce, led by Nancy Onyango and deputized by Prof. Luis Franceschi, was expected to assess whether Kenya’s loans have been used as intended, evaluate project costs, and analyze returns on investments and equity. Other members included ICPAK President Philip Kaikai, IEK President Shammah Kiteme, and Mr. Vincent Kimosop.

However, Article 229(4) of the constitution specifies that only the Auditor General can audit public debt within six months after the end of each financial year, maintaining independence from executive influence.

Previous Post

Hustler Fund reports 78% repayment rate amid management scrutiny

Next Post

Treasury under scrutiny as loan audit reveals systemic flaws

Derrick Omwakwe

Derrick Omwakwe

Related Posts

News

Kenya Debt Sustainability

November 28, 2025
News

How infrastructure has shaped Kenya’s Economic Growth

November 28, 2025
News

How Cross-Border Trade Is Powering East Africa’s Economic Integration

November 28, 2025
News

Why Industrial Parks Are Becoming the Next Big Thing in African Real Estate

November 28, 2025
News

The Rise of Student Housing as a New Investment Asset Class in Kenya Real Estate Sector.

November 28, 2025
News

The Rise of Mobile Trading Platforms in Kenya

November 28, 2025

LATEST STORIES

Kenya Debt Sustainability

November 28, 2025

How infrastructure has shaped Kenya’s Economic Growth

November 28, 2025

How Cross-Border Trade Is Powering East Africa’s Economic Integration

November 28, 2025

How extreme wealth concentration is slowing down Kenya’s consumer market

November 28, 2025

Why Industrial Parks Are Becoming the Next Big Thing in African Real Estate

November 28, 2025

The Rise of Student Housing as a New Investment Asset Class in Kenya Real Estate Sector.

November 28, 2025

The Rise of Mobile Trading Platforms in Kenya

November 28, 2025

Climate Finance in Africa: How Green Bonds Are Transforming Sustainable Investment.

November 28, 2025
  • 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