NCPB Faces Auction Over Ksh7 3 Billion Debt kenyans.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kenyans.co.ke Daily Mail and Mail on Sunday newspapers.
Currently, the total interest charged stands at Sh3.1 billion.
“It was worth noting that the total loan exposure is Sh7.3 billion – Sh6.38 billion unserviced KCB facility and Sh1.0 billion being the interest charges paid from NCPB resources which is reimbursable,” he explained.
Failure to pay
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He said due to the failure to pay the loan, KCB recalled the entire loan facility in March last year, overdrawing the NCBP operating accounts held with the bank.
He said this action blocked NCPB from accessing banking services from KCB, which is its main banker.
总统府幕僚办公室 寻求稳定牛肉价格解决方案 shangbaoindonesia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from shangbaoindonesia.com Daily Mail and Mail on Sunday newspapers.
Sh306m State pyrethrum plant idle 15 years since purchase
Thursday January 21 2021
By EDWIN MUTAI
Summary
The State-owned Pyrethrum Processing Company of Kenya (PPCK) is on the spot after a Sh305.8 million processing plant it purchased 15 years ago remained idle.
Auditor-General Nancy Gathungu says Pyrethrum Processing Company of Kenya purchased and installed an extraction plant worth Sh305,872,000 in 2006 but which has never been commissioned.
She warned that technological changes and wear and tear are bound to affect the idle machines adversely and may result in the loss of taxpayers’ funds.
The State-owned Pyrethrum Processing Company of Kenya (PPCK) is on the spot after a Sh305.8 million processing plant it purchased 15 years ago remained idle.
Kenya: Why Revival Cotton Industry in Nyanza May Take Longer allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.