Business
Kenya’s Central Bank Sanctions Five Banks Over Theft
Kenya’s central bank said it had fined five commercial banks a total of 392.5 million shillings (3.89 million dollars) over alleged theft of funds at the National Youth Agency (NYS).
The central bank said in a statement in Nairobi Wednesday that all the banks had received a total of more than three billion shillings from the NYS on behalf of their customers without reporting the transactions.
The central bank said it had discussed its findings with all the five banks and they had pledged to ensure compliance with all laws in the future and to draw up plans for sealing gaps that were identified.
According to the apex bank, the five banks are Standard Chartered Kenya, Equity, Diamond Trust, Co-operative Bank and KCB Group. Dozens of senior government officials and business people were charged in May with various charges related to the theft of nearly 100 million dollars from the agency, marking a new effort to crack down on widespread graft.
It accused them of failing to report large transactions, failing to undertake proper due diligence on customers, approving large transactions without proper documents and failing to report suspicious transactions.
The central bank added that more banks would be investigated and the findings of its investigations had been passed onto criminal detectives to assess whether they would bring any charges.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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