The National Treasury has moved to dismiss claims that the government plans to borrow over Ksh1 trillion in SACCO savings for the National Infrastructure Fund.

🇰🇪 Breaking It Down

In a statement issued on Monday, July 6, the Treasury dismissed a graphic of Cabinet Secretary John Mbadi as fake, reiterating that the CS never made the remarks attributed to him.

"We wish to clarify that the information circulating on social media regarding the Government borrowing SACCO savings for the National Infrastructure Fund is entirely FAKE and malicious," a statement from the Treasury said.

The fake quote alleged that the government intended to borrow more than Ksh1 trillion in SACCO savings to fund roads and other development projects through the National Infrastructure Fund, with the initiative supposedly backed by the forthcoming Cooperatives Bill.

📌 What You Need to Know

“The Government of Kenya is seeking to borrow more than K sh1 trillion in savings held by SACCOS to fund key infrastructure and development projects through the proposed National Infrastructure Fund (NIF) . The Initiative is set to be supported by the forthcoming cooperative bills,” stated the fake post.

However, the Treasury Cabinet Secretary John Mbadi clarified that the circulating quote had been fabricated and urged Kenyans to disregard it, advising members of the public to rely only on official government communication channels for verified information.

" My attention has been drawn to some false information doing the rounds, claiming GOK intends to borrow money from SACCOs to fund projects through NIF. It's maliciously choreographed to misinform the public, taint govt and elicit public uproar," warned CS Mbadi.

📰 Source: Kenyans.co.ke