The Orange Democratic Movement (ODM) has continued to increase in value despite a slight decline in its total income for the financial year ending June 2024.
A financial report shows that the party’s net worth grew from Ksh 10.5 billion in June 2023 to Ksh 11.6 billion in June 2024.
This growth occurred despite a sharp decrease in government transfers, which dropped from Ksh 241 million to Ksh 157 million.
Party Offices being services closer to the people in the grassroots. Offices symbolize the strength and popularity of the party. We acknowledge the initiative by team Kakamega County led by Gvn @BarasaFernandes to re-activate the party office in Mumias East Branch #TukoTayari. pic.twitter.com/jJyYgIgSi1
— The ODM Party (@TheODMparty) September 27, 2024Did you read this?
However, contributions and donations from the public increased to Ksh 46 million, up from Ksh 31 million the previous year.
The party’s expenses saw a sharp decline, dropping from Ksh 922 million in 2023 to just Ksh 24 million in 2024, primarily due to fewer conferences and meetings, which cost Ksh 29 million compared to Ksh 109 million the previous year.
After accounting for expenses, ODM reported a net surplus of Ksh 1.1 billion, nearly double the Ksh 454 million surplus from the previous year.
The party's assets also increased, largely driven by funds owed by the Treasury, rising from Ksh 10.2 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.
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