Home National Cash crunch forces Kisumu to take Sh400m loan from KCB for salaries

Cash crunch forces Kisumu to take Sh400m loan from KCB for salaries

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Daily Nation | by Rushdie Oudia

The cash crunch counties are facing has forced Kisumu to take a short term loan from the Kenya Commercial Bank (KCB) to pay salaries.

On Thursday afternoon, the Kisumu assembly passed a motion approving short term borrowing for salary payment.

Governor Anyang’ Nyong’o’s administration will now draw a bank overdraft of Sh400 million as the National Treasury has delayed disbursements to counties…

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