Kenya lost nearly Sh1 trillion through illicit trade practice

Kenya: Kenya loses an estimated $1 billion (Sh87 billion) yearly through export under-invoicing when sellers deflate the true value of their exports and channel the difference to foreign accounts.

The lost revenue  can build about three Thika Super highways. A new report by Washington-based research and advocacy organisation, Global Financial Integrity (GFI) says between 2002 and 2011, $9.64 billion (Sh870 billion) — half of Kenya’s current budget, flowed illegally out of the country due to trade misinvoicing.