The government’s debt to Vivo Energy Kenya under the fuel stabilisation scheme jumped five times to Sh21 billion ($167 million) in the year ended December, prompting the parent firm of the oil marketer to flag the delayed payments.
Disclosures by the parent firm, Vivo Energy Limited, show that government receivables increased from Sh4.023 billion ($31 million) a year earlier amid Treasury’s struggles to compensate oil marketers for keeping pump prices low.
