Kenya: MPs Oppose Plan to Write Off State Firms' Sh84.2 Billion Loans

MPs have questioned the government's move to write off Sh84.28 billion in dormant loans owed by at least 17 State corporations because they are unable to repay them, even as the amounts advanced to them continue to increase.

The details of the dormant loans have been flagged by Auditor-General Nancy Gathungu in her report on the accounts of the National Treasury for the year 2018/2019, currently before Parliament.

"The loans had no movement and as previously reported, have remained unpaid over a significant period of time casting doubts on their recoverability," Ms Gathungu says in the audit report.

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