Kenyan taxpayers coughed up Sh2.48 billion to pay a Belgian bank for a botched agreement for a fertiliser plant started in the late 1970s, a State audit report shows. In the end, the plant was never built, meaning that the money went down the drain.
A report from a parliamentary watchdog indicates that the latest payment pushed the total amount of money lost over the botched Ken-Ren Chemical and Fertiliser plant to Sh6.33 billion. Kenya had earlier paid Sh3.9 billion to the governments of Australia and Belgium because it had guaranteed the construction of the failed fertilizer plant at Changamwe, Mombasa.
