Kenya: RBA sluggish in response to allegations of fraud
Chris Hamblin, Editor, London, 26 May 2015
In what appears to be a test-case for its responsiveness to allegations of fraud on the part of pension trustees, the Retirement Benefits Authority of Kenya appears to be found wanting.
According to the Nation, one of Kenya's national dailies, the RBA audited the Kenya Railways Pensioners Association in 2011, saying that their scheme was "fraught with corruption." The association, or perhaps some of its members independently, is asking for a fresh audit, presumably because no meaningful action was taken. No response seems to have come from the regulator, judging from its website.