ICT ministry seeks nod to write off Sh40bn KBC loan

The State guaranteed Sh1 billion loan from Japan Telecoms Engineering in 1989 for the expansion of the broadcaster. FILE PHOTO | NMG

The Ministry of ICT is seeking Cabinet approval to write-off a Treasury-backed loan to Kenya Broadcasting Corporation estimated at more than Sh40 billion in principal and interest.

ICT Principal Secretary Esther Koimett said that the ministry was Wednesday afternoon set to meet with the Treasury to finalise a memo that will be sent to the Cabinet before tabling it in Parliament for adoption.

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