The Jomo Kenyatta Foundation (JKF) is grappling with significant financial challenges that threaten its continued operations and service to students across the Country.
The Foundation has reported a net loss of Kshs 286.6 million and cumulative losses exceeding Kshs 592 million.
The Managing Director David Mwaniki disclosed that the Foundation’s financial health has deteriorated, largely due to unfavorable shifts in government policy on book procurement.
He said the policy changes have weakened JKF’s cash flow, resulting in negative working capital and the erosion of the organization’s net worth.
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The MD who appeared before National Assembly’s Public Investments Committee on Governance and Education chaired by Francis Sigei, MP Sotik said JKF had formally sought financial intervention from the Ministry of Education to settle pressing liabilities.
The Committee emphasized the importance of saving JKF, recognizing their critical roles in supporting Kenya’s educational infrastructure.
MP Sigei said government must not allow the institutions to collapse and its survival is a matter of national interest.
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The Presidential Working Party on education reforms had recommended that JKF be designated as the government’s provider of last-resort scholarships, a move that would come with state funding and potentially reposition the institution for sustainability.
Established in 1966, JKF is a parastatal under the Ministry of Education, with a mandate of publishing educational materials and awarding scholarships to bright but needy students to secondary school.
It publishes high quality reading and course materials from Early Childhood to Tertiary level.
By Obegi Malack
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