Company News

African Development Bank bans Sinotec Company Limited for 3 years over fraudulent practices

by CEO Reporter
An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Sinotec Company Limited misrepresented its experience, among other factors, in the bidding process for projects. Courtesy photo
Getting your Trinity Audio player ready...
The African Development Bank Group, on 20 April 2020, announced the debarment of Sinotec Company Limited, an energy solutions company registered in China. Pursuant to a decision by the Bank’s Sanctions Appeals Board, the company will be debarred for a period of 36 months (3 years) for engaging in fraudulent practices. A press statement by the Bank says: “An investigation conducted by the Ba

Thank You For Reading CEO East Africa Magazine.

Please SUBSCRIBE for UNLIMITED ACCESS to our game-changing stories or LOG IN for existing members.

Tagged: