Top managers at the Kenya Broadcasting Corporation (KBC) have revealed that they lost Ksh7 billion in the last financial year.
Speaking to the Senate Committee for Information, Communication and Technology (ICT), Mr Samuel Otieno – who represented the managing director – revealed that the company was spending double of what it earned in the last financial year.
Despite earning Ksh90 million a month, the corporation has been spending Ksh180 million monthly on recurrent expenditure.
It was further revealed that the state broadcaster had not paid Ksh127 million for satellite operations.
KBC has also defaulted Ksh205 million tax remission to the Kenya Revenue Authority (KRA) despite effecting deductions on employees’ salaries.
The Committee also learnt that employee deductions had not been remitted to their respective Savings and Credits Cooperative Organizations (Saccos).
Otieno found himself in hot soup when he tried to seek for more funding without giving a report on how the previous allocation was used.
The committee, which is chaired by Baringo Senator, ordered KBC managers to appear before it again with details of a restructuring plan.
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