Kenya signs deal to return stolen wealth from Switzerland

david nganga

July 9, 2018 7:01 PM

The first assets to be targeted will be monies stolen through the Anglo-Leasing scandal

Kenya and Switzerland have signed a key agreement that paves way for reclamation of funds and property gotten through proceeds of graft and stashed abroad.

The deal, dubbed dubbed Framework for the Return of Assets from Corruption and Crime in Kenya (FRACCK), was signed by President Uhuru Kenyatta and his Swiss counterpart Alain Berset who is in the country for a two day official visit.

Mr Kenyatta lauded the pact saying it was part of his resolve to eliminate corruption in the country.

“We have seen, in the last few months, a new intensity in the fight against corruption in Kenya. Quite frankly, my Administration has shown that corruption cannot, and, will not, be tolerated,” he said during the signing of the agreement at State House, Nairobi.

The first assets to be targeted by the new framework will be monies stolen through the Ango-Leasing scandal and hidden in Switzerland.

UN Convention

The deal is in line with the United Nations Convention against Corruption that provides guidelines aiding the recovery of stolen assets.

According to the agreement signed, assets recovered will be used to pursue clearly identified development objectives such as the health sector.

A steering committee comprising of the Executive Office of the President, the Attorney General, the National Treasury, the Assets Recovery Agency, Ethics and Anti-Corruption Agency and envoys or representatives representing the partner countries will be established to implement the deal.

The agreement also has a provision to allow other nations willing to cooperate with Kenya in the recovery of stolen assets to join.

President Berset said his country appreciates the role Kenya is playing at regional and global stage.

Earlier, he held private talks with Mr Kenyatta followed by a bilateral meeting where they discussed how to deepen trade and security ties between the two countries.

david nganga