Bishop Gatimu Ngandu Girls High School has come under parliamentary scrutiny over a Sh1 million investment in Nairobi Securities Exchange shares that generated just Sh5,381 in dividends over one year.
The matter emerged on September 15, 2026, when the National Assembly Public Investments Committee on Governance and Education examined Auditor-General reports relating to the school.
The Auditor-General had previously raised questions over Sh1.58 million recorded as short-term investments in the school’s financial statements for the year ended June 2021. Auditors initially noted that the school had not provided investment certificates and other supporting documentation required to verify the investment.
Appearing before the committee, Chief Principal Jane Njuguna explained that the Sh1.58 million comprised several balances, including Sh1 million invested in shares at the NSE.
The investment attracted scrutiny after the school disclosed that it had generated only Sh5,381 in dividends during the year. Committee members questioned whether the investment was providing sufficient value to the public institution.
MPs also sought clarification on whether the school had obtained the necessary approval from the National Treasury before investing public funds.
Auditor-General representative Patricia Esipeya subsequently told the committee that auditors had established that the money had been invested through the NSE after reviewing supporting information, including bank statements and evidence of board approval.
The committee nevertheless directed the school to provide additional records and explanations concerning the investment.
The case highlights broader questions about how public schools manage surplus funds, including the balance between investing available resources and meeting immediate educational and operational needs.
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