Kenya, Swiss sign MOU to help recover stolen funds

Kenya has signed a memorandum of understanding (MoU) with a Swiss government agency to boost recovery of looted wealth stashed overseas.

Switzerland is among the top havens in the world preferred for hiding illicit wealth due to its secretive banking practices.

Attorney-General Githu Muigai said the agreement with the Swiss Federal Council would facilitate mutual assistance between the two countries through the provision of technical help that is aimed at confiscating illegally acquired assets and repatriating them.

The AG also said the move is a boost to the war on corruption, especially where those who loot the assets hide them abroad.

“The signing of the memorandum of understanding between the Swiss Federal Council and the Republic of Kenya on mutual legal assistance in criminal matters goes a long way in reassuring Kenyans that the days of thieves are numbered. You can run but you no longer have a hiding place because all our partners are supporting us in this fight,” Prof Muigai said at the ceremony attended by Swiss ambassador to Kenya Ralf Heckner.

Key areas of cooperation in the agreement include assets recovery in various parts of the world, as well as the repatriation of criminals and their proceeds.

Kenya now plans to develop a treaty on extradition to facilitate the transfer of the criminals to face justice as well as recover what has been looted.

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