Cash-rich parastatals are set for leaner times after the State moved to raid their coffers in a move that will also see them surrender their surplus funds to the Treasury instead of investing in government papers.
President William Ruto’s administration is eyeing at least Sh708.43 billion held by the parastatals and regulatory bodies in the cash mop-up that will affect entities such as the Central Bank of Kenya (CBK), the Kenya Pipeline Company (KPC), and the Kenya Ports Authority (KPA).
