The ruling party in Kenya, the Jubilee Party which has the President, Uhuru Kenyatta as her leader is broke!
This has been confirmed after the party was declared to be technically insolvent in the report covering the financial year, ending June 30th, 2018.
As it stands, the ruling party has more liabilities than assets with an alleged report stating that the party now runs on exclusive support from creditors and banks and well-wishers.
“As of June 30, 2018, the current liabilities at Ksh133,558,229 exceeded the assets at Ksh 67,278,244 by Ksh 66,279,985 hence, the party was operating on negative capital,” reports the Auditor General.
Jubilee Party’s Deputy Secretary-General, Caleb Kositany, wrote a letter to Secretary-General Raphael Tuju, requesting to know how monthly contributions by members were being used.
In the letter, Kositany asked the party to share the approved budget for financial years 2016/2017, 2017/2018, 2018/2019, and 2019/2020.
“Share all approved financial records, reports, and all committee minutes for the years in question, certified bank statements for all Jubilee bank accounts for the same financial years, including all cash books,” reads the letter.
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Kositany who went on to add that the previous requests to ask for the aforementioned documents were ignored said;
“These are public documents and you are entitled to get the copies from the Auditor General’s office or the Registrar of Political Parties. The party cannot receive political parties funds without due compliance,”
He alleged that the contributed money was being spent on tea and snacks at the party’s headquarters, claiming that it was part of a scheme to siphon public funds.
On his part, Tuju acknowledged receipt of the letter and promised to table the documents at the next National Executive Council meeting.
