Kenya: Piracy Cash Ruled Out of Real Estate Boom

13 November 2013

A World Bank, UNODC and Interpol study seeking to ascertain the destination of ransom money paid to Somali pirates has ruled out its influence on Kenya's property prices.

The report says there is more to the real estate boom "than what is claimed in the streets and office corridors". The report -- titled 'Pirate Trails: Tracking the illicit financial flows from pirate activities off the Horn of Africa' -- sought to clear speculation by assessing assumptions and perceptions on the flow of ransom cash.

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