Auditor General declares eight state corporations cash-strapped (LIST)

At least eight state corporations have been declared cash-strapped by the Auditor General in the latest audit
At least eight state corporations have been declared cash-strapped by the Auditor General in the latest audit.
Several parastatals are in the red, surviving solely on taxpayer support.
Auditor General Nancy Gathungu says in a string of reports that the number of state-owned enterprises in financial distress seems to grow by the day.
Most parastatals are run as businesses that generate revenue to keep them afloat and even make a profit.
At least eight state corporations have been declared cash-strapped by the Auditor General in the latest audit. Gathungu fears the number could be higher.
Some of the big names in financial trouble include the Kenya Broadcasting Corporation, South Nyanza Sugar Company (Sony), Rivatex, Kenya Bureau of Standards, National Museums of Kenya, National Oil Corporation of Kenya, Kenya Post Office Savings Bank (Postbank), Postal Corporation of Kenya, Nzoia Sugar, East Africa Portland PLC and power transmission giant Kenya Electricity Transmission Company (Ketraco).
Ruto reveals plans for Kenya to Join BRICS
200 Parliament staff sent home over fake academic papers
Ruto details roles of new National Intelligence and Research University
Kenyan man sentenced in US for plotting terror attack
Shock as another KCSE candidate dies shortly before sitting for exam
Office of the Attorney General announces mass job opportunities; How to apply
In the audit report for the 2022–23 financial year, Gathungu casts doubt on the sustainability of KBC, which the report indicates is operating on negative capital.
The public broadcaster’s liabilities stand at Sh94,108,387,000 against assets valued at Sh1,301,992,000. This translates to Sh92,806,395,000 negative working capital.
The auditor has also raised a red flag on the financial health of the Kenya Bureau of Standards after it emerged the corporation has been operating with a negative working capital of Sh930.5 million.
Also read,
One positive thing that has come with my impeachment; Gachagua
Senior Equatorial Guinea official, Baltasar Engonga under fire after 400 sex tapes leak
Why all school gates will remain open during KCSE exams; KNEC
UK announces Ksh667 million funding for Kenya
All phone importers and travelers must declare IMEI numbers starting Jan 2025; KRA
Government announces plans to review NSSF contribution
Follow us