[File, Standard]Foreign donors have rescued the Jubilee Party from a financial crunch with the ruling outfit now having Sh327 million to spare, two years after it was declared broke. In July 2020, the auditor general declared the party as "technically insolvent" in a report covering the financial year ending June 30, 2018. Exchequer fundingThe huge transfers from other governments add to the windfall from the Political Parties Fund. About 697 million was shared proportionately according to the total number of votes garnered by each political party in the 2017 General Election. The Political Parties Act sets aside 0.3 per cent of the national government revenue to finance activities of political parties in advancing democracy.

Source: Standard Digital September 28, 2020 13:41 UTC