Breakdown of ODM's Sh10 billion assets

The ODM party is valued at Sh10 billion, according to financial documents shared by the party on Thursday, September 29, 2022.

The party, which is led by former Prime Minister Raila Odinga, disclosed that its net current assets stood at Sh10 billion as of June 2022.

ODM reported that a huge value of its assets came from members’ accumulated funds.

The party said the value of property, plant and equipmen was Sh253 million, with about Sh156.7 million cash stashed in the bank.

ODM Secretary-General Edwin Sifuna shares a hug with ODM party leader Raila Odinga during the party's 2022 National Delegates Conference at the Kasarani Stadium Indoor Arena Pulse Live Kenya

According to the statement of comprehensive income for the year ended June 30, 2022, ODM had recorded inflows of Sh2 billion, a large chunk of the money coming from the government.

ODM received Sh294.9 million that year along with another Sh1.5 billion which was owed by the government. Public contributions and donations stood at Sh322 million.

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Expenses

The opposition party sent Sh47 million to its former partners in the defunct National Super Alliance (NASA), spent Sh93 million on conferences and meetings, Sh688.7 million on campaign expenses, and Sh128 million on administration.

Some Sh32.8 million was spent on party policy and advocacy, Sh2 million on civic education and Sh65 million on branch coordination and support.

The law requires that political parties publish their financial documents yearly for accountability purposes.

A statement of financial position shared by ODM party on Thursday, September 29, 2022. Pulse Live Kenya

“A political party shall, within ninety days of the end of its financial year, publish the sources of its funds stating the amount of money received from the Political Parties Fund, the amount of money received from its members and supporters, the amount and sources of the donations given to the party, the income and expenditure of the political party the assets and liabilities of the political party,” reads Section 29 of the Political Parties Act.

Section 30 adds: “A political party shall, at least sixty days before a general election, submit to the Registrar a register of its members and a statement of its assets and liabilities in the prescribed form.”

The party was formed in 2005 and has been active for 17 years.