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HomeDaily NewsWednesday, June 18, 2025Financial Issues and Economic Concerns in Kenya
Business & Economy2 stories from 1 sources

Financial Issues and Economic Concerns in Kenya

Kenya faces Sh2.08bn in unpaid university salaries and rising fraud targeting 82% of citizens.

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Wednesday 4:00 PMCapital BusinessFirst

Sh2.08bn salaries owed to university staff in 2024 still unpaid, audit

Sh2.08bn salaries owed to university staff in 2024 still unpaid, audit

A recent government audit has revealed that Sh2.08 billion in salaries owed to university staff for the 2023/2024 financial year remains unpaid, highlighting serious financial and ethical issues within public institutions.

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Key Highlights

A recent government audit has revealed that Sh2.08 billion in salaries owed to university staff for the 2023/2024 financial year remains unpaid, highlighting serious financial and ethical issues within public institutions.

  • 2,066 public officers, primarily from public universities, did not receive their salaries.
  • The audit was conducted by the Kenyan government and covers the year ending June 30, 2024.
  • 84 percent of the outstanding pay is attributed to university personnel, with significant gaps in document authenticity revealed among 168,667 reviewed public officers.
Wednesday 4:01 PMCapital Business

82pc of Kenyans targeted by fraud in late 2024, report

82pc of Kenyans targeted by fraud in late 2024, report

A report by TransUnion reveals that 82 percent of Kenyans were targeted by digital fraud between August and December 2024, with 11 percent losing money to scammers.

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Key Highlights

A report by TransUnion reveals that 82 percent of Kenyans were targeted by digital fraud between August and December 2024, with 11 percent losing money to scammers.

  • Top fraud tactics included 39 percent targeting via smishing, 36 percent through phishing, and 33 percent via vishing.
  • Amritha Reddy, Senior Director of Fraud Solutions at TransUnion Africa, highlighted the adaptability of fraudsters to local behaviors.
  • The average loss reported by victims was Sh116,108, indicating significant personal financial toll despite being below the global median of Sh226,132.
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