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US watchdog suspends firm's shares over false Kenya deal

National Treasury Headquarters in Nairobi (PHOTO: FILE)

A Canadian company that claimed to have entered into a contract with the Government of Kenya to build Sh139 billion hospitals has been suspended from trading.

The US capital markets regulator, Securities and Exchange Commission (SEC), made the decision on Tuesday, noting that Kallo Inc made filings claiming to have entered into agreements relating to healthcare infrastructure projects in several African countries.

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