JUST IN: Audit Uncovers Mismanagement of Kes.2.1 Billion Coffee Farmers’ Funds 

  An audit has uncovered the improper investment of Kes.2.1 billion intended for coffee farmers from the coffee cherry fund. The funds were deposited in a commercial bank, violating directives from the National Treasury. Auditor General Nancy Gathungu criticized the fund administrators for placing Kes.2,181,054,794 in funds into a call account, stating that farmers have not received value for their money. Gathungu referenced a March 26, 2018, Treasury circular, which instructed state corporations and semiautonomous agencies to invest surplus funds in treasury bills or bonds directly through the Central Bank of Kenya. The directive also required the retirement of funds previously
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