City Hall (PHOTO: FILE)The Nairobi county government has formed a special unit to collect Sh829.5 billion it is owed by the national government and other institutions. This was revealed in the Nairobi County Debt Management Strategy Paper for the 2021/2022 financial year, which was tabled in the assembly on Tuesday. According the document, City Hall is owed shy of one trillion shillings–mainly in land rates by government institutions–which has accrued over the years. City Hall intends to use the money to pay off Sh76.9 billion it owes creditors. Finance Executive Allan Igambi said the county inherited a large portfolio of debt from the defunct City Council of Nairobi.

Source: Standard Digital March 08, 2021 07:07 UTC