Tag Archives: RIPOFF

20 companies, including CIC Insurance, Equity Bank, and several universities, have been penalised a total of Sh2.2 billion for failing to hand over unclaimed financial assets to the Unclaimed Financial Assets Authority (UFAA), Kenya media reports. The fines follow a detailed audit by Kenya’s Auditor-General, which revealed that these firms withheld dividends, insurance payments, dormant savings, and other idle funds …

Government has come under fire for paying US$118Million (UGX428.990Bn) to UMEME Limited as buyout amount at the end of its concession in March 2025 yet the same company owes Uganda Electricity Transmission Company Limited (UETCL) UGX600Bn. Parliament’s Committee on Environment and Natural Resources, notes that the UGX600Bn arose from electricity UETCL supplied to Umeme. This development came up during a …