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State parastatal debts generating a penalty of Sh30m monthly

By Kepher Otieno | 6yrs ago

A Sh1.4 billion loan to the Lake Basin Development Authority (LBDA) is generating interest of Sh30 million a month, the agency has revealed

This means that if the loan is not settled in time, LBDA will fork out Sh360 million a year. Last week, LBDA Chairman Calvince Owidi confirmed that the mall’s loan advanced by the Cooperative Bank was continuing to accrue huge interest monthly.

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Lake Basin Development Authority LBDA Mall Debt Tax
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