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@GlobalJusticeUK and Corner House have written to @SarahChampionMP + @CommonsIDC calling for an urgent inquiry into the "highly questionable business practices" of two British managers in Kenya appointed by a UK aid-backed private equity fund (1/6) https://www.globaljustice.org.uk/news/2020/apr/7/british-managers-uk-aid-funded-kenyan-firm-accused-fraud-bribery-and-highly
The allegations are detailed in a new @BBCAfrica documentary which aired yesterday.
They include concerns of alleged fraud, bribery, and reports that Kenyan staff were not paid while the managers were paid $20k/month as company went bankrupt. (2/6) https://twitter.com/BBCAfrica/status/1247081902261112833?s=20
They include concerns of alleged fraud, bribery, and reports that Kenyan staff were not paid while the managers were paid $20k/month as company went bankrupt. (2/6) https://twitter.com/BBCAfrica/status/1247081902261112833?s=20
(The fund and managers deny any wrongdoing. You can see their responses in the full documentary, available here 
) (3/6)
) (3/6)
The documentary also highlights how the managers used company money to build a golf course for themselves, claiming that it would give the impression of a thriving company that was appealing to buyers..... (4/6)
Spencon is backed by the Emerging Capital Partners fund, which received an investment of $47.5m from UK aid bank
@CDCgroup.
DfID and CDC were warned in 2015 of alleged corruption and mismanagement at Spencon, but failed to intervene to address the alleged mismanagement. (5/6)
@CDCgroup.
DfID and CDC were warned in 2015 of alleged corruption and mismanagement at Spencon, but failed to intervene to address the alleged mismanagement. (5/6)
In Feb @GlobalJusticeUK reported our concerns with the low accountability and transparency of CDC's investments via private funds.
Via CDC, increasing amounts of UK aid are being used to support dubious projects, fossil fuels and private healthcare (6/6) https://twitter.com/not_DJW/status/1229321713185411072?s=20
Via CDC, increasing amounts of UK aid are being used to support dubious projects, fossil fuels and private healthcare (6/6) https://twitter.com/not_DJW/status/1229321713185411072?s=20
