The Women Enterprise Fund (WEF) has firmly denied allegations of misappropriating Sh1.4 billion, as raised in a recent audit by Auditor General Nancy Gathungu. In a report covering the financial year ending June 30, 2024, Gathungu flagged several financial discrepancies, putting the fund under scrutiny.
According to the audit, Sh212 million was transacted through unauthorised mobile paybills without proper accountability. An additional Sh34 million was allegedly paid out as gratuities without supporting documents, while Sh20 million was transferred from a paybill account in August 2023 with no trace of the recipient account. The Auditor General also raised concerns over a Sh118 million variance in loans to women’s groups and Sh59 million in questionable computer maintenance expenses.
In a statement issued on Friday, WEF CEO Racheal Musyoki and board chair Jane Langa’t dismissed the claims as baseless and misleading. They reaffirmed the fund’s commitment to transparency and accountability, stressing that the organisation operates with integrity to support women’s economic empowerment.
Musyoki highlighted that WEF operates as a Semi-Autonomous Government Agency under the State Department of Gender and Affirmative Action, overseen by Principal Secretary Anne Wang’ombe, whom she praised for her leadership.
“The Fund is dedicated to protecting public funds and ensuring they benefit the intended recipients—women across Kenya,” Musyoki said.
WEF also expressed willingness to appear before the Parliamentary Special Funds Accounts Committee to respond to the Auditor General’s queries as part of the public audit process.
Musyoki urged individuals with credible evidence of financial wrongdoing to follow due legal channels and submit their claims to relevant authorities. She cautioned against the spread of unverified and defamatory allegations.
Established under the Public Finance Management Act, the Women Enterprise Fund aims to economically empower women through affordable credit, business training, and market access. The fund targets micro, small, and medium-sized women-led enterprises, playing a vital role in bridging the financial inclusion gap, promoting entrepreneurship, and reducing poverty.
Despite the audit storm, WEF remains resolute in its mission to promote gender equality and inclusive economic development across the country.
