Bishop Gatimu Ngandu Girls ordered to explain Ksh1M stock exchange investment

Members of Parliament have questioned Bishop Gatimu Ngandu Girls High School's decision to invest Ksh1 million in the stock market. The National Assembly Public Investments Committee on Governance and Education raised concerns about the investment, stating that the school could have used the money for better purposes. Auditor-General reports from 2020/21 to 2024/25 revealed the school had invested Ksh1,583,111, but lacked supporting documentation.

Deputy Director of Audit Patricia Esipeya pointed out that auditors initially could not verify the investment due to missing certificates. The money was later found to be in the Nairobi Securities Exchange, but returned to the school's operational account. Principal Jane Njuguna revealed the investment consisted of various accounts, including a Ksh1 million share investment in the NSE.

The committee questioned how the school acquired the money and why it stopped income-generating projects like coffee farming. MP Maurice Kakai Bissau expressed concern over the lack of diversification in the school's investment portfolio. Deputy Director Esipeya stated the school received only Ksh5,381 in dividends from the investment, drawing criticism from the committee.

The school's bursar acknowledged the poor returns and said the issue was under consideration by the Board of Management.