Pioneer Tv Station KBC Stuck Knee Deep In Debt

The Kenya Broadcasting Corporation (KBC) during the Moi Regime had for a long time kept us glued to our screens watching the escapades of one Mzee Ojwang and Baba Zero.

The media house is now a far-cry from its glory days as the media house has not only been displaced by the new-age media houses but is drowning in debt! According to the business daily the Kenya Broadcasting Corporation (KBC) has been declared the worst performing State corporation.

A part of the Consolidated National Government Investment Report blared that the “Kenya Broadcasting Corporation recorded the highest losses at Sh4.1 billion in the year under review”This was due to losing a whopping 4.1 billion shillings in the previous economic year. The losses were caused by debts amounting to billions,competition from other media outlets and the elimination of permit fees that were paid on all TV sets in the country.

It is said that the financial troubles were fueled by a government- guaranteed loan of Sh2.3 billion that was taken in 1991 in order to purchase medium-wave equipment. The defaults, penalties and interest placed on the media outlet has seen the burden sky rocket to Sh20 billion.

Could we be seeing the last of this station that brought us the likes of Mama Kayai and Inspekta Mwala?