Friday, March 19, 2021 – A company based in the United States of America has accused the Kenyan government of taking a loan of Sh 139 billion from Belarus and Canadian companies without informing its citizens

The Securities Exchange Commission (SEC) based in New York said the Kenyan government took the loan in June 2020 to build mobile clinics and upgrade hospitals in counties amid fears of a sharp rise in coronavirus cases.

The multi-billion-dollar deal involved Canadian firm Kallo Inc and Belarus-based Techno-Investment Module (TIM).

Kallo Inc says on its website that it provides a comprehensive healthcare infrastructure using both mobile clinics and fixed hospitals supported by a global telehealth system while TIM says it fund mega government projects.

However, in a statement on Thursday, Treasury Cabinet Secretary, Ukur Yatani denied Kenya signing the deal and termed the claims as misleading and malicious.

“Treasury wishes to categorically state that the CS Ukur Yatani did not enter into any loan contract…with a company by the name Kallo Inc. as claimed in the article and in the company’s filings with the US Securities Exchange Commission (SEC),” Yatani said.


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