- An opinion article written by Dr Aggrey Wafula a kenya researcher.
- Kenya has long been known to the world, or at least to Africa as a hub for money laundering and Illicit Financial Flow (IFF).
- Observers ascribed this decadence to 10 Points in the Vulnerabilities in Kenya Financial System and Institutions.
- This is partly as a result of the easily maneuverable financial laws in Kenya and also the endemic corruption in the system, especially of the politically corrupt elites of the country who also are complacent in the deals.
- It is not surprising that a country which recently changed it’s currency is yet and unable to account for about Seven (7) Billion Kenyan shillings which analysts believe to have already been moved out of the country.
- Recall during the protracted war in Sudan and the Democratic republic of Congo (DRC) it was in Kenya that most Sudanese (both North and South) seeked asylum and also moved in lots of money and gold.
- The Somali community in Kenya is amongst the richest of all settlers. They are well known and vast in money laundering. The Ethiopians are not excluded. Blood Diamonds have also infiltrated the space of the state. Non-Certified diamonds and other mineral resources including gold to a large extent.
- Nevertheless and in this secret business, the recent one that is shrouded in secrecy is the alleged flew in by private jet few months ago, the total sum of almost Six Hundred Million ($600 000 000.00) US Dollars by one of the family member of the Democratic Republic of Congo warlord and late president Desire Laurent Kabila.
- It is said that one of his numerous wives or relatives moved in so much money with a high placed connection and has also been partnering with some Arabs to get the money out of Kenya.
- We all know quite well that aside monumental corruption in her country of origin, there is no way a woman in her mid-forties can legitimately acquire such stupendous wealth.
Kenya as we know today has become a transit point for financial illicit flow. - The local and responsible agencies fold their arms and oftentimes connive with unscrupulous politicians to rape their various countries of both natural and financial resources.
- These proceed of corruption one way or the other easily find their way into Kenya, where they are laundered onward to other countries through the organized role of both local and foreign individuals.
- Opinion article published as written by DR Aggrey Wafula
