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MPs probe Moi University's Sh3b bank loan to buy Rivatex

Rivatex company in Eldoret. [File, Standard]

A parliamentary team is investigating how Sh3 billion loan from Exim bank was channeled towards Rivatex company by Moi University.

During the National Assembly's Public Investments Committee on Education, it emerged that Moi University bought Rivatex textile company for Sh600 million in 2008 and soon, the Treasury secured the loan, for an upgrade.

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