According to the 23rd report by the Public Investments Committee (PIC), there’s an unsteady financial status among agencies, which will cause problems if the current status lingers.
Nancy Gathungu, Kenya’s Auditor-General, said there’s a financial instability in a number of State corporations and if the government fails to endorse them, they are doomed to failure.
Kenya Wildlife Service (KWS) faced a struggle with its deficit of Sh680.52 million during the fiscal years of 2016 and 2017. The mass deficit reached Sh4.43 billion as the insufficient government’s monetary aid couldn’t cope with operating expenses and personal payments.
The other example is the Sacco Societies Regulatory Authority (Sasra), which is still in red. Sasra experienced a deficit of Sh23 million in the fiscal years of 2014 and 2015, which saw a jump a year later.