The state waives over Sh5.3b interest accrued for SFT beneficiaries

Current situation in Lake Naivasha where water levels have risen sharply in the last couple of weeks breaking the banks, flooding nearby estates and hotels following heavy rains in the catchment areas. [Antony Gitonga, Standard]

The government has waived over Sh5.3 billion in interest accrued on the Settlement Fund Trustees (SFT) for thousands of beneficiaries who owe the state for over 50 years.

In total, the government has so far waived Sh5.3B of interest on the principal amount of the Sh6.2B that Kenyans owe the government over the years.