Audit flags revenue leakages, irregular leasing at Posta Kenya
The audit report for the financial year ended June 30, 2025 shows the State-owned corporation continued recognizing Sh39.3 million in rental income from 107 lease agreements whose contractual terms had lapsed, even though tenants were required to surrender the premises once the l..
✨ Key Highlights
An audit by Auditor General Nancy Gathungu has revealed significant revenue leakages and questionable leasing practices at Postal Corporation of Kenya (Posta Kenya).
- Kshs. 39.3 million collected from expired lease agreements without formal renewals.
- The audit highlights issues at Posta Kenya involving its property leasing across regional offices.
- Concerns raised over lack of transparency in tenant selection and competitive bidding for leased land and properties.
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Billions Lost Forever? Alarm as State Moves to Liquidate KUSCCO - May 2026
The Kenyan government is considering liquidating KUSCCO (Kenya Union of Savings and Credit Cooperatives Limited) following a forensic audit that uncovered massive fraud and financial irregularities, potentially leading to billions in permanent losses for members. An audit by Auditor General Nancy Gathungu has revealed significant revenue leakages and questionable leasing practices at Postal Corporation of Kenya. However, Posta Kenya has achieved profitability, reporting a net profit of Sh488 million for the financial year ended June 2025, a significant turnaround from a Sh1.08 billion loss in the previous year.
