The African Development Bank Group (www.AfDB.org) announced on May 9, 2023, a 24-month debarment of Goldsun Investments Company Ltd., effective January 31, 2023. Goldsun Investments Company Ltd. is a limited liability company incorporated in Kenya.
Goldsun Investments Company Ltd. engaged in fraudulent practices during a tender for the dualling of the 84 km Kenol-Sagana-Marua highway, Lots 1 and 2, components of the Kenol-Sagana-Marua Highway Improvement Project, according to an investigation conducted by the Bank’s Office of Integrity and Anti-Corruption.
The Kenol-Sagana-Marua Highway Improvement Project is part of the Kenyan section of the Trans-Africa Highway (Cairo to Cape) and is expected to improve the movement of goods and services, as well as people, between counties in Central and Eastern Kenya and Nairobi, Kenya’s capital city.
Goldsun Investments Company Ltd. will be ineligible to participate in Bank Group-financed operations and activities during the debarment period. Furthermore, the debarment is eligible for cross-debarment by other multilateral development banks, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the World Bank Group, under the Agreement for Mutual Enforcement of Debarment Decisions.
Goldsun Investments Company Ltd. will be eligible to resume participation in African Development Bank Group-financed operations and activities only after it implements an integrity compliance program in accordance with the Bank’s guidelines.
