The Ethics and Anti-Corruption Commission (EACC) has arrested nine individuals, including senior National Treasury officials and business owners, over an alleged Sh1.57 billion fraud scheme involving the PROFIT Programme.

• The alleged fraud amounts to KES 1,569,582,338.20, intended for small-scale farmers.
• Key figures arrested include PROFIT Programme Coordinator John Ngure Kabutha and National Treasury Head of Accounting Unit Namwel Moturi Motanya.
• Funds were allegedly diverted to 23 private entities for goods and services that were never supplied, with an unauthorized bank account also used for laundering and embezzlement.

The Registrar of Companies has initiated the dissolution of over 750 companies in Kenya, with 200 already formally struck off the register as of August 14, and 550 more facing potential closure.

• A total of 750+ companies are subject to dissolution.
• The Registrar of Companies is the key entity involved.
• The dissolution is due to reasons including failure to file annual returns, dormancy, or non-compliance with Anti-Money Laundering regulations.

The Kenyan government is launching a value-for-money assessment of the Ksh21 billion World Bank-backed Second Kenya Informal Settlements Improvement Project (KISIP2) to ensure it benefited intended communities.

• The assessment will cover interventions financed by the World Bank and Agence Française de Développement (AFD).
• The State Department of Housing and Urban Development is seeking an independent consultant for the evaluation.
• This review is occurring as KISIP2, approved in 2020, nears the end of its implementation period.

The Ethics and Anti-Corruption Commission (EACC) has arrested nine National Treasury officials in connection with an alleged embezzlement scandal involving Ksh1.57 billion.

• Alleged embezzlement of Ksh1.57 billion from the National Treasury.
• Nine suspects arrested and in custody at the EACC's Integrity Centre.
• The funds were allegedly lost through the PROFIT programme, with over Ksh1.56 billion fraudulently deposited into a new account after the official one was closed.