World Bank Bans EY Kenya, PwC Over Fraud as Kenya Seeks Sh16bn for Land Reform

Ernst & Young (EY) Kenya and PwC's arms in Kenya, Rwanda, and Mauritius have confessed to fraudulent and corrupt practices, leading to World Bank bans. This comes as Kenya seeks Sh16 billion ($125 million) from the World Bank to digitise its land registries and combat rampant land fraud, which has attracted warnings from the US. Meanwhile, Mhasibu DT SACCO is seeking over Sh480.6 million from Kenya Union of Savings and Credit Co-operatives (KUSCCO) for a fixed deposit that matured in January 2024 but remains unpaid. Separately, the US has issued a temporary license to sell approximately 140 million barrels of Iranian oil currently at sea, a policy reversal aimed at mitigating the impact of the ongoing war on energy markets.