Kenya’s political elite in the Moi/Kibaki era are accused of stashing more than Sh327.89 billion in offshore bank accounts over a two decade period when the country received billions in donor aid, a World Bank-backed research has claimed.
The study titled “Elite Capture of Foreign Aid: Evidence from Offshore Bank Accounts”, and published in February offers details of how the Kenyan ruling political elite enriched themselves either from the foreign aid or kickbacks from State agencies that received donor funding.
