NAIROBI: Kenya’s Uchumi Supermarket, which sacked its chief executive for “gross misconduct”, said on Monday it had launched an audit to determine how money raised via last year’s 900 million shillings ($9 million) rights issue and other cash had been spent.
“Management was not able to give a clarity on how that money was spent … We really don’t have all the details that is why we asked for a forensic audit,” Chairwoman Khadija Mire told Reuters. “The money is not lost but the board needs the management to tell it very clearly how the money was disbursed.”
