• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Kenya Emerges No. 2 Globally in Stolen Funds

samrack by samrack
October 10, 2018
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, People, U.S Diaspora
A A
0
Kenya Emerges No. 2 Globally in Stolen Funds
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
Cash stashed in a suitcase THE STAR

Kenya Emerges No. 2 Globally in Stolen Funds

  • Kenya has emerged number two globally in the amount of money hidden in tax havens relative to the Gross Domestic Product (GDP).According to a study by the National Bureau of Economic Research, Kenya’s wealth in tax havens totals to nearly 70% of the country’s GDP.The study puts the country’s looted funds stashed in offshore accounts and investments at $49 billion.
    The study by the National Bureau of Economic Research

    The United Arab Emirates (UAE) tops the global list with 73% corruption proceeds hidden abroad.

    With the World’s average of looted funds vis-a-vis the GDP standing at 9.8%, Kenya’s ranking is quite alarmingly high.

    Other countries in the top 10 list according to the report are Venezuela, Zimbabwe, Saudi Arabia, Russia, Israel, Senegal, Argentina and Greece.

    Countries with significant stolen public funds abroad include in billion dollars include USA (1058), Russia (609), Germany (551.8), Britain (498.2), and France (409.3).

    However, the portion of these countries’ looted resources is significantly lower relative to their GDP.

    In late July, President Uhuru Kenyatta and his Swiss counterpart Alain Berset agreed on a framework on asset recovery on funds stashed offshore in Swiss, Britain and the Islands of Jersey.

    Uhuru has in past expressed his commitment to fighting corruption in the second term of his presidency as he focuses on accomplishing his legacy project, the Big Four Agenda.

    Uhuru Kenyatta and Switzerland President Alain Berset at State House

    Earlier in July 2017, the Head of State used the proceeds recovered from Smith & Ouzman Chickengate Scandal to buy ambulances to be used in different counties.

Tags: Kenya Emerges No. 2 Globally in Stolen Funds
Previous Post

Hilton Garden Inn Opens First Hotel In Nairobi

Next Post

Police Arrest Kenyan Millionaire Witchdoctor Annah Mutheu after Raid of Her Palatial Residence

Related Posts

DP Ruto picks Rigathi Gachagua as his running mate
Kenya

DP Ruto picks Rigathi Gachagua as his running mate

May 15, 2022
Muteshi Land Grabbing Case Haunts Ruto
Business

Muteshi Land Grabbing Case Haunts Ruto

May 13, 2022
Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance
Diaspora

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

May 13, 2022
Five Reasons Why Real Estate Increases in Value
Business

Five Reasons Why Real Estate Increases in Value

May 13, 2022
Kenya:9,484 children were defiled last year— Health ministry
Health

Kenya:9,484 children were defiled last year— Health ministry

May 13, 2022
Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia
Diaspora

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

May 12, 2022
Next Post
Police Arrest Kenyan Millionaire Witchdoctor Annah Mutheu after Raid of Her Palatial Residence

Police Arrest Kenyan Millionaire Witchdoctor Annah Mutheu after Raid of Her Palatial Residence

Please login to join discussion
Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply.
ADVERTISEMENT
ADVERTISEMENT

Latest News

DP Ruto picks Rigathi Gachagua as his running mate

Muteshi Land Grabbing Case Haunts Ruto

Boyfriend of Missing US-based Kenyan Woman Considered a ‘Person of Interest’ in Her Disappearance

Five Reasons Why Real Estate Increases in Value

Kenya:9,484 children were defiled last year— Health ministry

Standoff at JKIA After Family Refuses to Pick Body of Kin Who Died in Saudi Arabia

Kenyan Nurse Wins Sh29 Million Global Nursing Award in Dubai

Russia Questions US-Funded Biolab in Kenya

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

Canada Issues Travel Advisory to Its Citizens in Kenya

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

GOVERNOR MUTUA’S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!

by samrack
May 11, 2022
0

GOVERNOR MUTUA'S BIG BLOW AS TRIBUNAL STOPS HIM FROM EXITING AZIMIO LA UMOJA ONE KENYA COALITION!!   Governor Alfred Mutua’s...

You are free to use Nairobi expressway from next Saturday – Uhuru

You are free to use Nairobi expressway from next Saturday – Uhuru

by samrack
May 8, 2022
0

You are free to use Nairobi expressway from next Saturday - Uhuru Other than the ban on photography, skaters, pedestrians,...

  • About Us
  • Archives
  • SWG Registration

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 0.901 seconds. Stats plugin by www.blog.ca