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Fraudulent practices: ADB excludes Goldsun Investments Company Ltd for 24 months

11/05/2023
Source : ORISHAS FINANCE
Categories: Sectors

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On 8 May 2023, the African Development Bank Group announced the exclusion of Goldsun Investments Company Ltd for 24 months. The sanction has taken effect since January 31, 2023.

Accused of fraudulent practices, Goldsun Investments Company Ltd is a limited liability company, registered in the Republic of Kenya. Indeed, as part of a tender, Goldsun Investments Company Ltd engaged in fraudulent practices in connection with a tender for the doubling of the 84 km Kenol-Sagana-Marua Highway, Lots 1 and 2, components of the Kenol-Sagana-Marua Highway Improvement Project according to an investigation conducted by the

Bank's Integrity and Anti-Corruption Bureau.

During the exclusion period, Goldsun Investments Company Ltd. will not be eligible to participate in projects and activities financed by the Bank Group.

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