Nairobi, Oct. 18 -- The Treasury has agreed to inject cash into Kenya Power and Kenya Airways in the financial year starting July 2022, citing the role of the two struggling firms in supporting economic recovery from Covid knocks.
No bailout was allocated to the two firms in the current financial year, raising concerns their worsening cash flow positions could hurt operations and slow down recovery in economic activity.
Stakeholders, in recommendations in the Budget Review and Outlook Paper (BROP), last month faulted the Treasury for not outlining a recovery plan for the troubled firms.
They argued Kenya Power and Kenya Airways (KQ) were key in "fuelling economic growth and the creation of employment" and should be supported through cash...