With a staggering Ksh10 billion in net worth, the Orange Democratic Movement (ODM) party has been named the wealthiest political party in Kenya.
Every year, the government sets aside 0.3% of the total national government revenue to be distributed to eligible parties through the Political Parties Fund.
ODM has been receiving the lion's share of the budget because it is the only significant political party that has been active since its founding in 2005 during Kenya's campaign for a constitutional referendum.
Statistics show that the Raila Odinga-led party's net wealth increased by 12.4% from Ksh8.9 billion in June 2021 to Ksh10 billion in June 2022.
By their declaration, 96% of the Political Parties Fund's value is owed to ODM. The opposition party claims that the Political Parties Fund currently owes it Ksh9.62 billion, an increase from Ksh8.55 billion the year prior.
With a valuation of Ksh429.44 million, the Jubilee Party, led by former president Uhuru Kenyatta, is the second wealthiest party in Kenya.
The United Democratic Alliance (UDA), led by President William Ruto, has the most elected Members of Parliament (MPs) and Senators in Kenya even though the ODM and Jubilee parties are the richest and second-richest, respectively.
UDA didn't appear on the list because it just started to gain ground after the General Election on August 9, 2022.
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