Back

Switzerland to return billions in corruption proceeds to Kenya

(EBC; July 9, 2018) - Switzerland has agreed to return billions of shillings in corruption proceeds to Kenya following talks between Presidents Uhuru Kenyatta and Alain Berset.

“Switzerland will return financial assets that have been blocked – from Anglo Leasing and other crimes. Switzerland and Kenya enjoy a common interest in fighting corruption,” Swiss President Berset said.

Switzerland blocked financial assets related to the scandal amid judicial proceedings in Kenya. The conclusion of the proceedings will allow the Swiss to return the assets.

Berset noted that his country had returned illegally acquired assets to countries such as Nigeria.

“We freeze and return stolen assets. Through the partnership, we will know how best to return the assets,” he said.

President Kenyatta reiterated that corruption will not be tolerated in Kenya.

“I am pleased that after negotiations, we have agreed on a framework on returning the money. Actions for returning the proceeds has begun,” he said.

Kenyatta said they also signed an agreement that will equip investigative bodies with new instruments for fighting graft.

Source: CGTN