Written by Lisa Murimi
The Orange Democratic Movement (ODM) continues to grow in value despite a slight drop in its total income for the financial year ending June 2024.
According to a financial report, the party’s net worth rose from Ksh10.5 billion in June 2023 to Ksh 11.6 billion in June 2024.
This growth occurred despite a significant decline in government transfers, which fell from Ksh 241 million to Ksh 157 million.
However, contributions and donations from the public increased to Ksh 46 million, up from Ksh 31 million the previous year.
The party’s expenses dropped sharply, from Ksh922 million in 2023 to just Ksh 24 million in 2024, largely due to fewer conferences and meetings, which cost Ksh 29 million compared to Ksh 109 million the previous year.
After deducting expenses, ODM posted a net surplus of Ksh1.1 billion, nearly double the previous year’s surplus of Ksh454 million.
The party’s assets also grew, largely due to funds owed by the Treasury, increasing from Ksh10.2 billion to Ksh 11.3 billion.
As Raila Odinga prepares to step down as ODM leader, Prof Peter Anyang’ Nyong’o will take the reins, facing competition from Kalonzo Musyoka, who aims to become the official opposition leader.
