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KeNHA and National Oil top list of Sh14bn debt penalties and interest
KeNHA has defaulted on payment of Sh82.29 billion while Nock has failed to settle some Sh9.34 billion and Sh17.69 billion owed to Kenya Power, respectively.
State corporations have accumulated Sh14.52 billion in penalties and interest for unpaid debt, revealing the impact of cash-flow woes and mounting losses that have crippled some of the entities.
A new report by the Controller of Budget shows that Kenya National Highways Authority (KeNHA) leads the pack with accrued penalties and interest totaling Sh4.88 billion followed by the troubled National Oil Company of Kenya (Nock) with Sh3.84 billion and Kenya Power at Sh2.59 billion as at September 2024.
