How ODM Made Ksh1.4 Billion in 1 Year From Govt Transfers and Public Donations
The Orange Democratic Movement (ODM) party, led by opposition leader Raila Odinga, generated Ksh1.3 billion in revenue during the fiscal year that ended on June 30, 2023, a 36% decrease from the previous fiscal year, in which the party posted Ksh2.2 billion.
The majority of the party’s revenue, according to its unaudited financial statements, came from accrued government transfers totaling Ksh1.1 billion.
In addition, the party received Ksh240 million in government transfers and Ksh31 million in public contributions and contributions.
The party received Ksh322.1 million in public contributions and donations during the corresponding period of the previous year, a reduction of 90% from the previous year.
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ODM spent Ksh610.6 million on campaigns and Ksh108.5 million on conferences and meetings, according to its balance sheet.
Administrative expenses (Ksh127.5 million), party policy and advocacy (Ksh43 million), and branch coordination and support (Ksh31 million) also consumed a significant portion of the budget.
The political organization incurred Ksh611,739 in financial expenses, while civic education cost Ksh60,000.
In addition, the financial statement reveals that total expenses decreased from Ksh1.1 billion the previous year to Ksh922 million.
Notably, the financial statement reveals that the party’s total assets are valued at Ksh10.5 billion, indicating a robust balance sheet.
According to Ann Nderitu, the registrar of political parties, ODM will receive Ksh308 million from the Political Parties Fund during the Fiscal Year 2023/2024.
How ODM Made Ksh1.4 Billion in 1 Year From Govt Transfers and Public Donations
