Raila’s ODM party made an income of Ksh2.16 billion in the 2022 financial year
Raila’s ODM party made an income of Ksh2.16 billion in the 2022 financial year that ended in June.
The Orange Democratic Movement (ODM), led by Raila Odinga, made approximately Ksh2.16 billion for the fiscal year that ended on June 30, 2022.
The more than ten-year-old party disclosed that a significant portion of its income came from accrued transfers due from the government, which totaled Ksh1.54 billion, in its financial statement published in the local dailies.
Other sources of revenue for the party include public contributions and donations, which totaled Ksh322 million, and transfers from the government, which totaled Ksh294 million.
The overall income was a 54 percent increase over the Ksh1.4 billion total income for the fiscal year that ended on June 30, 2021.
The Orange party had a total spend of Ksh1.06 billion during the peak of the campaigns in the fiscal year 2021/2022, leaving a surplus of Ksh1.11 billion.
Ksh688 million, or a significant portion of the total, was spent on the campaign, and Ksh128 million was used for administrative costs.
Conferences and meetings accounted for 93 million shillings (Ksh), branch coordination and support cost 65 million shillings (Ksh), partners in the National Super Alliance (NASA) received Ksh47 million, party policy and advocacy received Ksh32 million, civic education received Ksh2 million, and other expenses received Ksh881,000.
Raila’s ODM party expenditure surpassed that of the financial year 2020/2021 where the party only spent Ksh309 million with the biggest portion going to fund campaign activities as well as administrative expenses.
That year’s expenditure left a surplus of Ksh1.09 billion.
The report also revealed that the party has a $10 billion asset base, including Ksh156 million in cash in the bank.
Property, plant, and equipment are worth Ksh253 million, while accruals and liabilities to creditors are worth Ksh1.8 million.
The ODM party had 4.5 million members as of June 2021, 2.4 million of whom were considered life members.
Also read,
Raila wants Interpol to investigate the death of high-profile ICC witness Paul Gicheru
ODM is in a state of hopelessness after Raila lost the presidency
The List of Top Best Insurance Companies In Kenya
Follow us
