Raila’s ODM Richest Political Party in Kenya, Worth Sh10 Billion
The Orange Democratic Movement (ODM) party is worth Sh10 billion, making it the richest political outfit in Kenya.
Citing ODM’s latest disclosures, Nation reported that the Raila Odinga-led party’s value grew by 12.4 percent from Sh8.9 billion last year.
96 percent of its value (Sh9.62 billion) is monies owed by the Political Parties Fund, which is allocated 0.3 percent of the national government revenue annually to be disbursed to qualified parties.
ODM’s revenues increased by 54 percent to Sh2.16 billion in the financial year ending June 2022, including Sh1.54 billion in arrears from the government. Its earnings from public contributions and donations grew to Sh322 million up from Sh51.5 million, while receipts from the government increased to Sh294.9 million up from Sh240.5 million the previous year.
The party spent a total of Sh1.06 billion in the year under review. It spent Sh688.76 million on campaigns in the 12 months to June, up from Sh114.19 million in the previous year.
Other expenses included conferences and meetings (Sh93 million), branch coordination and support (Sh65 million), party policy and advocacy (Sh32 million), and Sh2 million for civic education.
In addition, ODM transferred Sh47.48 million to its former partners in the National Super Alliance (NASA) namely; Amani National Congress (ANC), Ford Kenya and Wiper party.
Former President Uhuru Kenyatta’s Jubilee Party is the second richest party in the country with a value of Sh429.44 million, according to its latest audited financial accounts for the year ended June 2020.
Comments (8)
Ten billion of our cash! It has been a cash cow for the peoples conman! We need to change the law not to finance these political parties with taxpayers money! It didn’t work out as expected, just more corruption and enrichment of a few political class criminals!!!
Stop your NONSENSE oh! Jujuman. You're a Member or Donor of ODM. ODM is NOT Mungiki Party.
10b profits. That's a huge corporation. They better invest wisely.
10B and Agwambo could not spare 20M to hire polling stations agents? Kumbafu!
He hired Them but an Inside mole Stopped them. Kumbafu!!!🤡
I thought Jubilees offices for grabs on actions.
That's why I said nothing meaningful will come out of this BS.
How do you even assess the value of a political party? Is it their assets? They definitely do not produce anything of value... especially in Kenya.
A meagre 2m for civic education... Surely you put your money where your mouth is. Useless ODM