About 80 percent of the Sh9.5 trillion assets held by some 526 State corporations and government agencies are in the hands of some 17 entities, a report has revealed.
The report by the Treasury shows that the parastatals and semi-autonomous government agencies (Sagas) hold Sh7.6 trillion worth of assets, leaving about 500 entities holding the remaining Sh1.9 trillion assets.
Treasury’s report on consolidated financial statements for State corporations and Sagas for the financial year 2022/23 noted that two entities – the Central Bank of Kenya- CBK (Sh1.78 trillion) and Kenya Airports Authority- KAA (Sh1.06 trillion) – had assets surpassing the Sh1 trillion mark by end of June last year.
The two were followed by Kenya Railways Corporation (KRC) which had assets valued at Sh783.29 billion, Kenya National Highways Authority (Kenha) with Sh768.34 billion assets, and Kenya Electricity Generating Company (KenGen) with Sh514.37 closing the list of five public entities with assets valued over half a trillion shillings.
“The high-valued assets held by these entities include, held to maturity investments for CBK, plant, property, and equipment for KRC, Kenya Urban Road Authority (Kura), Kenya Power and Lighting Company Limited (KPLC), Kengen, Nairobi University and Kenya Rural Roads Authority (Kerra), and Investments in bills and bonds for National Social Security Fund (NSSF),” Treasury stated.
The CBK alone holds 18 percent of the assets, while KAA controls 11.1 percent. Together, the two hold 30 percent of the assets.
The details by the Treasury show that four entities- Kura, KPLC, Kenya Ports Authority (KPA), and NSSF- hold assets valued between Sh314 billion and Sh407 billion.
Kenya Electricity Transmission Company Limited (Sh236.9 billion), Kenya Roads Board (Sh225.7 billion), University of Nairobi (Sh212.4 billion), Kenya Pipeline Company (Sh129.45 billion), Rural Electrification and Renewable Energy Corporation (Sh128.6 billion), Athi Water Works Development Agency (Sh118.9 billion), Higher Education Loans Board (Sh115.55 billion), and Geothermal Development Company Limited (Sh108.46 billion), close the list of top 17 public entities holding most assets.
