Assets of the National Cereals and Produce Board (NCPB) risk auction over a Sh7.3 billion debt. The cash-starved State agency further has an additional Sh4.1 billion maize subsidy debt and Sh1.11 billion owed to State Department of Devolution, Agriculture Development Corporation (ADC), Agriculture Food Authority (AFA) and County Government of Murang’a. “It was worth noting that the total loan exposure is Sh7.3 billion – Sh6.38 billion unserviced KCB facility and Sh1.0 billion being the interest charges paid from NCPB resources which is reimbursable,” he explained. He said due to the failure to pay the loan, KCB recalled the entire loan facility in March last year, overdrawing the NCBP operating accounts held with the bank. “Currently NCPB is owed Sh16.22 billion by various government ministries and agencies for services rendered and fertiliser supplied,” said Iringo.

Source: Standard Digital March 15, 2021 05:55 UTC