Reforms loom as State firms hoard billions amid biting cash crunch

Treasury CS Njuguna Ndungu reads the Budget Estimates 2024-25 at the Parliament Buildings, Nairobi. [Elvis Ogina, Standard]

Despite the government being cash-strapped, State corporations are holding billions of shillings in commercial bank accounts.

At times, they have even been using these funds to lend to the government by buying Treasury Bonds and Bills.