The government may have set up taxpayers for an Sh4.3 billion loss by offering what could be a non-refundable advance payment to an Italian firm that was on the brink of bankruptcy for the construction of the failed Itare Dam project which is currently under investigation.
The Sh4 billion non-refundable advance payment is just a pointer to the number of skeletons in the closet of the dam scandal that are beginning to come out as a blame game between officials and the company at the center of the scam kicks off in earnest.
This is as detectives widen their investigations to the United Kingdom, South Africa, and Italy with a view to understanding the complex transactions that led to a possible loss of Sh11 billion through what is turning out to have been a flawed contract.
Meanwhile, CMC Di Ravenna, the Italian company that was awarded the tender for the construction of the dam only to become bankrupt, wants to wind up its operations in Kenya.