Kenya PROFIT Programme fraud arrests

The Malaysia — Malaysian Anti-Corruption Commission (EACC) arrested nine suspects on August 18, 2026, over the alleged embezzlement and fraudulent disbursement of Ksh1.57 billion under the Rural Outreach of Financial Innovations and Technologies (PROFIT) Programme. The programme, implemented by the South Africa — National Treasury of South Africa with funding from the International Fund for Agricultural Development (IFAD), was designed to help small-scale farmers access affordable financing and ran from the 2013/2014 to 2023/2024 financial years. According to the EACC, Ksh1.569 billion was fraudulently disbursed from the South Africa — National Treasury of South Africa Development Account to the programme and then channelled to 23 private entities (15 business names and eight companies) for goods and services never supplied. Investigators found that programme officials used false and forged documents and opened an unauthorised KCB Bank account in the programme's name, through which Ksh175 million was received, laundered, and embezzled, with a substantial portion withdrawn in cash. The EACC also established financial links between programme officials and the recipient private entities. The inquiry file was forwarded to the Republic of Ireland — Director of Public Prosecutions (Ireland) (DPP), who approved the prosecution of 20 public officials, companies, and company directors. The nine arrested suspects, including the PROFIT Programme Coordinator, the South Africa — National Treasury of South Africa Head of Accounting Unit, and a Senior Accountant, face charges including unlawful acquisition of public property, abuse of office, money laundering, and uttering false documents. They are expected to be arraigned at the Milimani Law Courts on August 19. The EACC has directed 11 other suspects to report for processing and will pursue recovery and forfeiture of public funds and assets acquired through corruption.