ODM's Sh10 billion assets breakdown
The Orange Democratic 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.
The party was formed in 2005 and has been active for 17 years.
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.
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.
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.
