Finance

African Development Bank debars Express Automation Ltd for 36 months for fraudulent practices

African Development Bank debars Express Automation Ltd for 36 months for fraudulent practices
Thursday, 07 October 2021 11:41

The African Development Bank Group, on 7 October 2021, announces the 36-month debarment of Express Automation Limited with effect from 18 August 2021. Express Automation Limited is a limited liability company registered under the laws of the Republic of Kenya.

An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Express Automation Limited engaged in fraudulent practices during a tender for the Technical Security Upgrade to the Bank’s Eastern Africa Regional Centre.

During the debarment period, Express Automation Limited and its affiliates will be ineligible to participate in Bank Group-financed projects. Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.

At the expiry of the debarment period, Express Automation Limited will only be eligible to resume participation in African Development Bank Group-financed projects after it implements an integrity compliance program consistent with the Bank’s guidelines.

The Technical Security Upgrade was aimed at upgrading the existing security system in the Bank’s Eastern Africa Regional Centre in Nairobi, Kenya.

 

About the Office of Integrity and Anti-Corruption

The Office of Integrity and Anti-Corruption of the African Development Bank Group is responsible for preventing, deterring and investigating allegations of corruption, fraud and other sanctionable practices in Bank Group-financed operations.

 

For more information

African Development Bank staff and the general public can use secured hotlines of the Office of Integrity and Anti-Corruption to report sanctionable practices within the Bank or operations financed by the Bank Group.

Secured telephone: +1 (770) 776-5658     

Secured email address: investigations@iacd-afdb.org

1 devbanque

On the same topic
Carrefour signed a franchise and supply agreement to enter Ethiopia with Midroc’s Queens Supermarket PLC. The partners will convert 13 existing stores...
Ecobank Nigeria repaid about $245 million, or more than 80%, of its $300 million Eurobond due in February 2026. The early repayment reduced...
Development Partners International sold its 20.17% stake in Atlantic Business International for more than $200 million. The transaction valued...
The Alliance of Sahel States plans to create a joint purchasing agency covering Mali, Burkina Faso, and Niger. The initiative aims to regulate cereal...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...

Gabon Appoints Thierry Minko Economy Minister in Post-Transition Reshuffle
03

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
04

Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...

Ethiopia Secures Preliminary Eurobond Restructuring Deal With Private Investors
05

Heirs Energies acquires M&P’s 20% Seplat stake for $496M, exiting french group Maurel & Pro...

Heirs Holdings Push Oil Equity Production to 50,000 Barrels Per Day Following $496 Million Share Acquisition in SEPLAT
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.