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Agencies investigating loss of money at Youth Fund- CS

BUSINESS
By Daniel Psirmoi | February 15th 2016
Cabinet secretary Public Service, Youth and Gender Affairs Sicily Kariuki during Consultative Forum with County First Ladies at Hilton on 03/02/16 {PHOTO: JENIPHER WACHIE}

Investigative agencies are currently conducting a probe on the reported loss of finances at the Youth Enterprise Development Fund (YEDF).

Youth and Gender Affairs Cabinet Secretary Sicily Kariuki said they have received numerous concerns from young people and the public in general regarding the management of funds from the kitty.

"We wish to inform the public that the Ethics and Anti-Corruption Commission and other investigative agencies are currently conducting investigations over the loss of fund as part of the broader goal of ensuring accountability and prudent management of the Fund," she said yesterday.

"We assure all Kenyans that we are reviewing the effectiveness of the Fund's management systems and will make appropriate changes where necessary to boost performance and delivery," added the CS in a statement sent to newsrooms.

Last October, the fund's Chief Executive Officer (CEO) Catherine Namuye and Finance manager Benedict Atavachi were suspended by the board , following a reported loss of an undisclosed amount of money.

The CEO's position has remained vacant since then, with the public raising concerns over the delay to appoint a substantive boss to take over the vacant position at the funds body.

The CS clarified that after consultations between the ministry and the Board of Directors of the YEDF, an earlier decision to replace the current Acting CEO has been reversed, pending the appointment of a substantive one.

"The recruitment of a substantive CEO of YEDF will be concluded shortly through a competitive process alongside that of Uwezo Fund and Women Enterprise Fund in order to address the top management gaps in the three Affirmative Funds," said Mrs Kariuki .

" This will be done as part of a holistic approach to streamline the management and operations of the three Affirmative Funds in order to position them to better execute their mandates," she added.

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