Loans much of it used for recurrent expenditure or stolen. Rotich normally looks very clueless to me.

GOK is only paying 6% interest p.a. on its total debt. Who's fooling who?

Interesting figures on devolution

1. The aggregate annual own source revenue target for the 47 devolved governments was Sh49.22 billion against an actual collection of Sh32.49 billion, or 66 per cent of the target.

2. In the 2016/17 financial year, the total collection was Sh32.52 billion, which was 56.4 per cent of the target.

3. Nairobi generated 10.1b Mombasa 3.16b and Nakuru 2.28b-blue chips

4. Those that collected the lowest amounts were Lamu, Tana River and Mandera counties at Sh55.29 million, Sh56.63 million and Sh61.82 million, respectively.-monkeys

Noma juu ya noma...
https://www.standardmedi...ly-to-default-loans-imf

Six State-controlled and Nairobi Securities Exchange-listed firms have caused investors a combined paper loss of Sh86 billion in the past five years alone, underlining the effect of corruption and gross mismanagement that has driven some of them to near collapse.

East African Portland Cement Company (EAPCC) , National Bank of Kenya (NBK) , Kenya Airways (KQ) , Kenya Power , Mumias Sugar Company and Uchumi Supermarkets had a combined market value of Sh113.6 billion on November 1, 2013 .

But a mix of heavy loss-making, mismanagement and theft has whittled that down to Sh26.9 billion and left Mumias and Uchumi all but dead.
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Among the troubled six, KQ has burnt investors the most money – having accumulated Sh48.7 billion in paper losses over the five-year period. The loss excludes the impact of a recent debt-to-equity transaction that was favourable to the government and banks while squeezing long-term retail investors. The national carrier, which last paid a dividend in 2012, will likely need another bailout after continued losses plunged it back to a negative equity position of Sh3.8 billion in the half year ended June. KQ’s woes are linked to its previous overzealous expansion and theft by former managers.

Kenya Power is next with a paper loss of Sh19.9 billion, and significantly reduced earnings that have turned it from the consistent dividend payer it was to an erratic one. The company’s procurement running into billions of shillings has been questioned and a number of its top managers are in court facing economic crimes charges.

Uchumi, which was recently kicked out of its head office after surrendering most of its branches, is third with a paper loss of Sh5.4 billion, the culmination of multi-year losses and fraud. The former managers of the retailer were accused of wheeling and dealing, including entering commercial transactions with the company and third parties such as landlords to enrich themselves.

The debt treadmill. At this rate I would estimate around 2021 is when KE will start to experience the severe debt crisis. plenty of time to prepare

1 United States Dollar=102.04 Kenya Shilling