Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Ethereum High on Relief Rally, Gains 6% in 24 Hours

    November 5, 2026

    XRP Rises 231bps Ahead of US Employment Situation Report

    November 5, 2026

    Moniepoint Opens USSD Channel for N50K Relief Fund for Nigerians

    November 5, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Ethereum High on Relief Rally, Gains 6% in 24 Hours
    • XRP Rises 231bps Ahead of US Employment Situation Report
    • Moniepoint Opens USSD Channel for N50K Relief Fund for Nigerians
    • Bitcoin Price Rises to $80k on Force Buying, Oversold Rebound
    • Court to Deliver Judgment in El-Rufai’s N10bn Rights Suit
    • Naira Dips Near N1,348 on FX Demand, Supply Imbalance
    • Transcorp Power Spikes 10% as Investors Stake Post-Earnings Bets
    • Transcorp Power, Banks Stock Drive Equities Rally, NGX Index Rises
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, November 5
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years

    Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years

    Marketforces AfricaBy Marketforces AfricaMay 19, 2021Updated:July 21, 2021 News No Comments2 Mins Read
    Fraud AfDB Bars Mactebac Contractors Ltd Otieno for 3 Years Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years

    The African Development Bank Group (AfDB), has announced a 36-month debarment of Mactebac Contractors Limited and one Mr Joram Opala Otieno with effect from Dec.15, 2020.

    According to a statement from the AfDB on Wednesday, Mactebac Contractors Limited is a company registered in Kenya, and Otieno is the director and shareholder.

    An investigation conducted by the bank’s Office of Integrity and Anti-Corruption established that the company and Otieno engaged in fraudulent practices.

    Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years
    Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years

    This was during a tender for the Construction Works for Malaba Water and Sanitation Project under the Kenya Towns Sustainable Water Supply and Sanitation Program in Kenya.

    “The debarment renders Mactebac Contractors Limited and its affiliates and Mr Joram Opala Otieno ineligible to participate in bank group-financed projects during the debarment period.

    “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,’’ the statement noted.

    It further noted that at the expiration of the debarment period, the company would only be eligible to participate in bank group-financed projects on condition that it implements an integrity compliance programme consistent with the bank’s guidelines.

    “At the expiration of the debarment period, Mr Joram Opala Otieno will only be eligible to participate in bank group-financed projects on condition that he completes an accredited integrity training.’’

    According to the statement, the Construction Works for Malaba Water and Sanitation Project is a component of the Kenya Towns Sustainable Water Supply and Sanitation Programme in that country.

    Brent Price Rises on Alleged Drone Attack on Saudi Aramco

    It aimed to improve access, quality, availability and sustainability of water supply in 19 towns and waste water management services in 17 towns.

    This was to improve quality of life and resilience against climate variability and change in Kenya.

    It was co-financed by the AfDB.

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

    Fraud: AfDB Bars Mactebac Contractors Ltd, Otieno for 3 Years

    AfDB
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    Ethereum High on Relief Rally, Gains 6% in 24 Hours

    XRP Rises 231bps Ahead of US Employment Situation Report

    Moniepoint Opens USSD Channel for N50K Relief Fund for Nigerians

    Bitcoin Price Rises to $80k on Force Buying, Oversold Rebound

    Court to Deliver Judgment in El-Rufai’s N10bn Rights Suit

    Naira Dips Near N1,348 on FX Demand, Supply Imbalance

    Add A Comment

    Comments are closed.

    Editors Picks

    Ethereum High on Relief Rally, Gains 6% in 24 Hours

    November 5, 2026

    XRP Rises 231bps Ahead of US Employment Situation Report

    November 5, 2026

    Moniepoint Opens USSD Channel for N50K Relief Fund for Nigerians

    November 5, 2026

    Bitcoin Price Rises to $80k on Force Buying, Oversold Rebound

    November 4, 2026

    Court to Deliver Judgment in El-Rufai’s N10bn Rights Suit

    November 4, 2026
    Latest Posts

    Ethereum High on Relief Rally, Gains 6% in 24 Hours

    November 5, 2026

    XRP Rises 231bps Ahead of US Employment Situation Report

    November 5, 2026

    Moniepoint Opens USSD Channel for N50K Relief Fund for Nigerians

    November 5, 2026

    Bitcoin Price Rises to $80k on Force Buying, Oversold Rebound

    November 4, 2026

    Court to Deliver Judgment in El-Rufai’s N10bn Rights Suit

    November 4, 2026

    Subscribe to News

    Get latest news from MarketForces Africa...

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.