Serrari Group

Ernst & Young LLP (EY Kenya), a leading provider of professional services based in Kenya, faces a significant setback as the World Bank Group (WBG) announces its 30-month debarment. This action follows investigations into EY Kenya’s involvement in key projects aimed at enhancing economic institutions and financial management in Somalia.

EY Kenya, renowned for its expertise in assurance, tax, consulting, advisory, and IT services, was implicated in the Somali Core Economic Institutions and Opportunities Program (SCORE) and the Second Public Financial Management Capacity Strengthening Project (PFM II). Allegations centered on EY Kenya’s failure to disclose conflicts of interest during the selection and implementation of contracts under these projects. The firm also engaged an unauthorized agent and made irregular allowances for project officials, violating WBG Consultant Guidelines and constituting fraudulent practices.

The debarment renders EY Kenya and its affiliates ineligible to participate in WBG-financed projects. However, a settlement agreement acknowledges EY Kenya’s admission of misconduct and outlines steps for reinstatement, including the development of an integrity compliance program aligned with WBG standards. The firm has committed to cooperating fully with the WBG Integrity Vice Presidency.

Despite a reduced debarment period due to EY Kenya’s cooperation and remedial actions, this sanction triggers cross-debarment implications across other multilateral development banks under mutual enforcement agreements.

This decision reinforces the WBG’s commitment to transparency and integrity in international development efforts.

Photo source: Google

By: Montel Kamau

Serrari Financial Analyst

27th June, 2024

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023