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Friday, September 30, 2022 – The Orange Democratic Movement (ODM) party is the richest political party in Kenya, according to its latest financial statement.
The Raila Odinga-led party published the financial statement on Thursday showing its income for the year ending 30th June 2022.
The statement disclosed that Sh1.54 billion in accrued government transfers constituted the majority of its income.
Other sources of finance for the party include public contributions and donations totaling Sh 322 million, while government transfers totaled Sh 220 million.
The overall income increased by 54% compared to the previous fiscal year, which concluded on June 30, 2021, and reported a total income of Sh1.4 billion.
During the height of the campaigning period, the Orange party spent a total of Sh1.06 billion in expenses.
The majority of the amount, Sh 688 million, was allocated to campaign expenses, while Sh 128 million was allocated to administrative costs.
Other expenses included Sh 93 million for conferences and meetings, Sh 65 million for branch coordination and support, Sh 47 million for National Super Alliance (NASA) partners, Sh 32 million for party policy and advocacy, Sh2 million for civic education, and Sh881,000 for other financial costs.
The expenditures exceeded those in the fiscal year 2020/21, in which the party only spent Sh 309 million, with the majority of the funds used to pay campaign activities and administrative costs.
The statement also revealed that the party had a net worth of Ksh10 billion, which includes Sh 156 million in the bank.
The value of property, plant, and equipment is Sh253 million, whereas the value of liabilities owed to creditors and accruals is Sh1.8 million.
The Kenyan DAILY POST.