Auditor doubts recovery of Sh4.6bn Uwezo Fund loans
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Nairobi, Jan. 30 -- The Auditor-General has raised concerns over the recoverability of Sh4.6 billion advanced to various groups through the constituency Uwezo Fund offices.
Auditor-General Nancy Gathungu said several internal control weaknesses in fund administration at the constituency level were noted during an audit of Uwezo Fund books of accounts.
She said several constituencies did not update loan registers, bank reconciliation statements and loan repayments.
The Uwezo Fund was aimed at enabling women, youth and persons with disabilities access finances to promote businesses and enterprises at the constituency level.
The fund was established through Legal Notice No. 21 of February 21, 2014, and implemented under the Public Financ...
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