ODM is Kenya’s Wealthiest Political Party, Worth Sh10 Billion

According to its most recent reports, the Orange Democratic Movement (ODM) party has a net value of Sh10 billion, making it the wealthiest party in Kenya.

According to a statement from the Raila Odinga-led party, the worth of the organization has jumped from Sh8.9 billion last year by 12.4%, with money due by the Political Parties Fund accounting for 96% of the its value.

According to the Orange party, the exchequer now owes it Sh9.62 billion from the fund, up from Sh8.55 billion the previous year.

Every year, 0.3% of the national government’s revenue is allotted to the fund, which is then distributed to eligible parties.

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According to its most recent audited financial reports for the fiscal year ending in June 2020, retired President Uhuru Kenyatta’s Jubilee Party is valued at Sh429.44 million, making it the second-richest party in the country.

In the fiscal year that ended in June of this year, ODM’s net earnings climbed by Sh9.32 million, even as the party moved to pay millions to its former allies in the National Super Alliance (NASA) after leaving the coalition in 2017.

Even though the party benefited from a surge in donations and public contributions ahead of the August elections, ODM made a net income of Sh1.1 billion during the time, an increase from the Sh1.09 billion it earned in the year to June 2021.

As the party aimed to win more seats before the fiercely contested elections, its spending on campaigns soared six-fold.

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ODM which is one of the 26 parties registered under the Azimio la Umoja One Kenya Coalition Party, spent Sh688.76 million on campaigns in the year ending in June, an increase from Sh114.19 million the year before.

While government collections increased to Sh294.9 million from Sh240.5 million last year, the party’s earnings from public contributions and donations increased six-fold to Sh322 million from Sh51.5 million.

During the same period, it also received Sh1.54 billion in arrears from the government, an increase from Sh1.11 billion.

Also receiving Sh47.48 million from ODM were some of its old NASA associates, including Amani National Congress (ANC), Ford Kenya, and Wiper Democratic Movement Kenya (WDM-K).

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In the fiscal year ending in June 2021, ODM had not paid any money to its former partners in NASA. The party has Sh156.7 million in bank balances.

The coalition that was formed prior to the August 2017 elections had a turbulent four-year marriage when the party last year announced its exit from NASA after two of its partners took similar actions.

ODM’s departure opened the door for Wiper Party, led by Kalonzo Musyoka, and its erstwhile NASA partner to enter Azimio.

Ford Kenya and Musalia Mudavadi’s ANC both joined President William Ruto-led Kenya Kwanza Alliance.