Home National Treasury receives Sh785m rejected by German bank

Treasury receives Sh785m rejected by German bank

budget, treasury, public borrowing
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Business Daily | by Edwin Mutai


The Treasury has finally received Sh785 million that had been rejected by Standard Chartered Bank in Frankfurt, Germany, after Lake Turkana Wind Power (LTWP) refunded the cash for excess pay from Kenya Power.

Principal Secretary Julius Muia said the cash has been wired to the exchequer, more than a year and a half after the LTWP notified Kenya Power, the Ministry of Energy and the Treasury of the excess payment…

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