The Orange Democratic Movement (ODM) party has been ranked as the richest political party in Kenya with a net worth of Ksh10 billion.
Political parties in Kenya receive money from the government through the Political Parties Fund.
The government allocates 0.3 per cent of the national government revenue each year to be disbursed to qualified parties through the Political Parties Fund.
Figures show that the Raila Odinga-led party’s net worth increased by 12.4 percent from Ksh8.9 billion in June 2021 to Ksh10 billion in June 2022.
According to a statement, 96 per cent of ODM’s value is monies owed by the Political Parties Fund.
ODM says it is now owed Ksh9.62 billion by the Political Parties Fund, an increase from Ksh8.55 billion last year.
The figures released also show ODM generated a net income of Ksh1.1 billion during the 2021/2022 financial year.
The orange party registered Ksh51.5 million from public contributions and donations.
It also earned Ksh1.54 billion in arrears from the government during the same financial year.
The figures shared also show ODM spent Ksh688.76 million on campaigns in the 12 months to June 2022.
Former President Uhuru Kenyatta led Jubilee party, is the second richest party in Kenya with a valuation of Ksh429.44 million.
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