African Development Bank (AfDB) has slapped a 24-month ban on Goldsun Investments Company following evidence that the company wanted to win a tender for a major road project in the country through fraud. The ban is effective from January 13, 2023.
According to the Bank’s Office of Integrity and Anti-Corruption Goldsun Investments Company Limited wanted to un fairly win the contract for the dualling of the 84 kilometre Kenol-Sagana-Marua highway, Lots 1 and 2, components of the Kenol-Sagana-Marua Highway Improvement Project sponsored by AfDB, a major funder of infrastructural projects in Africa.
The Kenol-Sagana-Marua Highway Improvement Project is part of the Kenyan section of the Trans-Africa Highway (Cairo to Cape) and is expected to enhance the movement of goods and services, as well as people between the counties in Central and Eastern Kenya on the one part, and the capital city, Nairobi, on the other part.
AfDB says during the debarment period, Goldsun Investments Company Limited will be ineligible to participate in Bank Group-financed operations and activities. Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.
“At the expiration of the debarment period, Goldsun Investments Company Ltd. will only be eligible to resume participation in African Development Bank Group-financed operations and activities after it implements an integrity compliance program consistent with the Bank’s guidelines.”
The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.
