Seven parastatals join other State corporations in the red – Business Daily

Kenya Bureau of Standards Lake Region headquarters. PHOTO | ONDARI OGEGA | NMG

By KABUI MWANGI
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At least seven parastatals have joined a growing list of more than 16 cash-strapped State-owned corporations that have been declared insolvent by the Auditor General this year, adding to the burden of keeping the once profitable entities afloat.

The Kenya Bureau of Standards (Kebs) is the latest to join the list of entities in the red, after it sank into a Sh1.5 billion budget deficit in the year ended June 2021.

Kebs now joins the ranks of the National Museums of Kenya (NMK), the National Oil Corporation of Kenya, the K…

Read the full article at: https://www.businessdailyafrica.com/bd/economy/seven-parastatals-join-other-state-corporations-in-the-red–4061938