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Sep 20, 2013

Kenard Smart’s relationship with the SIF prior to allegations of financial misconduct

Kenard Smart

Kenard Smart’s relationship with the Social Investment Fund, prior to allegations of financial misconduct, has been a rather shaky affair.  In January 2011, there was controversy surrounding a contract awarded to him for the construction of the Gulisi School in Dangriga.  Despite that conflict, Smart would go on to secure additional contracts from SIF for various projects across the country.  According to Cano, the qualification criteria for contractors to successfully bid for work from SIF is objective.


Daniel Cano, Former Exec. Dir., Social Investment Fund

“It does not speak to “do you have an issue?”  It speaks to “did he finish?”  And, in cases where we were facilitating small payments every week we helped him to finish.  He qualified.  Now, in retrospect, this is something that maybe SIF will have to examine.  How far do we want to keep holding people’s hands, especially if they are so weak that eventually they will jeopardize the institution.”



Daniel Cano

“Might he have had insider information that, here’s how much to bid on this, this, this and this and exactly how much you need to put because I understand his bids would match the final requirement extremely close.”


Daniel Cano

“Mr. Smart would bid usually below the engineer’s estimate.  Let me go back a little bit and explain some of the criteria that we use for evaluating bids.  Bids have to be responsive in that you have to provide us the information that we ask for.  Secondly, you have to qualify.  You have to meet a certain requirement, you’d have to have had a certain number of jobs that you did.  You’d have to have access to a certain amount of credit and other qualifications and of those that qualify we look at the one with the lowest price.”

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1 Response for “Kenard Smart’s relationship with the SIF prior to allegations of financial misconduct”

  1. Vey says:

    Smart is just as culpable. He admits to paying bribes for obtaining projects and lays out his conspiracy in an email. Sounds to me that this is how he does business. I feel for the people of Dangriga, they have been scammed by Smart and SIF employees overseeing the project.

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