KBC’s Woes Deepen

KBC is without doubt a shadow of its former self. The media house’s woes started when it overthrown by other younger and fresher media houses and the latest hit is a staggering debt of 900m that they owe to Nairobi County.

Nairobi Governor Dr. Evans Kidero recently went to claim his pound of flesh and threatened to auction KBC’s assets if they wouldn’t have paid up the Sh900 million by last Friday.

Of course that was not possible but Dr. Kidero met KBC Managing Director Waithaka Waihenya and it was agreed that KBC will seek a go-ahead from the Ministry of Communication to liquidate or transfer its assets to the Nairobi County Government.

KBC’s MD Waihenya also requested Kidero to hold off the auction until KBC  manages to secure some money from the government to settle part of  the outstanding debt. “We are still awaiting a response from the government on these issues. In the meantime, I am appealing for your patience as these issues receive due consideration. The rates have been accumulating for many years and it will take time to settle it fully,” said Waihenya.

Source SDE