Two more people have been charged in connection with the alleged loss of Ksh.1.5 billion from the Programme for Rural Outreach of Financial Innovations and Technologies (PROFIT), adding to a growing list of suspects facing accusations over the funds.
Paul Mukasiali Shilaho, a sole proprietor of Shilal Supplies and Kemula Agencies, and Billy Otieno Obango, who worked as a project accountant at PROFIT, appeared before the Anti-Corruption Court in Nairobi on Tuesday.
Both denied the charges brought against them.
According to the Office of the Director of Public Prosecutions (ODPP), Shilaho is facing six counts of fraud, while Obango faces 45 counts.
The prosecution did not object to the two being released on bail or bond but asked the court to consider the seriousness of the allegations when setting the terms.
Principal Magistrate Rose Ndombi granted Shilaho a bond of Ksh.5 million with a surety of the same amount. He can also be released on a cash bail of Ksh.1.5 million.Obango was granted a bond of Ksh.15 million with a surety of a similar amount, or cash bail of Ksh.4 million.
The matter will return to court on November 3, 2026, for pre-trial directions.
Their appearance brings the number of people charged in the case to 15.
The charges follow investigations by the Ethics and Anti-Corruption Commission (EACC) into the alleged fraudulent disbursement of Ksh.1.569 billion from the National Treasury Development Account to the PROFIT Programme.
The programme was funded by the International Fund for Agricultural Development (IFAD) and was implemented between the 2013/2014 and 2023/2024 financial years.
Its main purpose was to help small-scale farmers access affordable financing and improve their economic opportunities.
However, investigators allege that some of the money was later transferred to private companies and businesses for goods and services that were not actually supplied.
The EACC has also alleged that officials used false and forged documents to account for some of the funds.
Investigators further claim that Ksh.175 million was deposited into a PROFIT Programme bank account that had not been authorised.
The case has already seen other suspects charged. Last month, Charles Cheruiyot Maiyo, a director of Kaplan Logistics Ltd, and Auma Ritah Otieno, the proprietor of Ritasshell Enterprises, were charged together with their respective companies.
They faced allegations including unlawful acquisition of public property, acquisition of proceeds of crime and money laundering.
Both denied the accusations and were released on Ksh.1.5 million bonds with similar sureties, or cash bail of Ksh.600,000 each.
The court process is expected to continue as the prosecution and defence prepare for the next stage of the case.
Leave feedback about this