How Kenyan banks aided in billion-dollar credit scam against South Sudan

What you need to know:

  • The value of goods imported turned out to be at the black or open market rates, thereby defeating the objective of providing goods to consumers at affordable rates.
  • Had the programme operated as planned, markets would have been stocked with food and other essential goods. Instead, drug, food, and fuel shortages remained, and prices skyrocketed.
  • The government failed to repay the borrowed money and entered arbitration proceedings initiated by the Qatari bank at the International Center for Settlement of Investment Disputes