The government issued a sovereign guarantee to local banks that turned their debt into equity, and in the event of KQ’s collapse, they could cash $750 million (Sh75 billion).
Project Simba Memorandum and dated February 20, paints a desperate picture of an airline, which has no cash flow buffer and whose level of revenue does not allow it to generate positive cash flow.
This comes even as public hospitals across the country grapple with severe shortage of drugs and other key medical supplies.
Kenya Medical Supplies Authority (Kemsa) officials were Friday summoned to Afya House to explain why drugs worth Sh1.2 billion have expired under their watch.
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