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Raila’s ODM party revenue rise 54 percent to Sh2 billion – Business Daily

ODM leader Raila Odinga. PHOTO | AFP
Raila Odinga’s Orange Democratic Party (ODM) revenues increased 54 percent to Sh2.16 billion in the financial year ending June 2022.
The party said in a statement posted on its official Twitter handle that it earned Sh1.54 billion in arrears from the government during the same period up from Sh1.11 billion.
The Political Parties Act of 2011 sets aside 0.3 percent of the national government revenue to finance the activities of political parties in advancing democracy.
The party’s earnings from public contributions and donations grew six-fold to Sh322 million up from Sh51.5 million, while receipts from the government went up to Sh294.9 million up from Sh240.5 million last year.
ODM’s total expenses hit Sh1.06 billion, leaving a surplus of Sh1.11 billion.
The party, which is one of the 26 parties registered by the Office of the Registrar of Political Parties (ORPP) under the Azimio la Umoja One Kenya Coalition Party, spent Sh688.76 million on campaigns in the 12 months to June, up from Sh114.19 million it spent in the previous year.
Other expenses included conferences and meetings which took Sh93 million, branch coordination and support which consumed Sh65 million and party policy and advocacy which gobbled Sh32 million.
The opposition party also used Sh2 million for civic education.
ODM also transferred Sh47.48 million to its former partners in the National Super Alliance (NASA) including Amani National Congress (ANC), Ford Kenya and Wiper Democratic Movement Kenya (WDM-K).
The party’s assets grew by 12.4 percent from Sh8.9 billion last year, with 96 percent of this owed by the Political Parties Fund.
The Orange party says it is now owed Sh9.62 billion by Treasury in the fund, an increase from Sh8.55 billion last year.
The money allocated to a political party from the Fund is meant to cover the election expenses of the party.
The law also allows a political party to spend the money for administrative expenses which must not exceed 10 percent of the total allocation.
***Updated

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Author

Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.