We're depending on overdrafts to run, says Meru Deputy Governor Ntuciu
National
By
Phares Mutembei
| Apr 07, 2022
The county government is struggling due to delays in disbursement of funds by the National Treasury, Deputy Governor Titus Ntuciu has said.
Mr Ntuciu, who is also the Finance Executive, said many operations have been affected and salaries delayed.
"We last got money in January," he said, adding that the county is relying on bank overdrafts to meet its financial obligations.
"But even getting overdrafts is a challenge when we experience such long delays in receiving disbursements. We have to clear one overdraft facility before we borrow again," he said.
READ MORE
Private developers eye deeper presence in Coast region
CS Kabogo: Digital economy now established, focus shifts to governance and accountability
How Ruto's aggression over fuel prices with EAC neighbours strains ties
Ruto opts for electric cars to escape high fuel prices
Kenya, Netherlands moot corridor to link EAC and Europe
Coastal property developers bank on Badawy to spearhead expansion strategy
Kenya to host Africa's digital economy summit as push for unified market intensifies
Afreximbank launches third AfCFTA bootcamp, firms urged to tap trade pact
Africa urged to plug leakages, mobilise local capital as global funding dries up
Taking loans from commercial banks was a decision taken by the county government to avoid a financial crisis.
Some contractors have raised concerns over delays by the county government to settle bills for work done.
A contractor who asked not to be named for fear of victimisation said despite camping at the county offices for weeks, no payments were forthcoming.
“I do not understand how I should raise money to pay my creditors who gave me the capital to carry out the contract,” said the contractor.