Africa

A good 98.8% of the money spent by Kenya’s ministries in the 2013/14 financial year could not clearly and lawfully be accounted for, a new audit report shows, a damning indictment on the state of public financial management in the country.

It comes just days after US President Barack Obama made a stirring speech at the African Union headquarters in Addis Ababa on Tuesday, where called for strong action to tame graft, saying “Nothing will unlock Africa’s economic potential more than ending the cancer of corruption.”

Corruption is not unique to Africa, Obama said, but “here in Africa, corruption drains billions of dollars from economies that can’t afford to lose billions of dollars—that’s money that could be used to create jobs and build hospitals and schools.”

The original article can be found at mgafrica.com