KICC Stares at Auctioning over Sh500 Million Debt

Kenyatta International Convention Centre (KICC), one of Kenya’s most popular conference facilities, is at risk of being auctioned over a debt of more than Sh500 million.

The Standard reports that incensed companies have moved to court seeking to have the property auctioned to offset debts dating back to 2015.

The publication says that the companies are demanding to be paid around Sh570 million of the Sh701 million in debt accrued from the World Trade Organisation (WTO) meeting held at the facility in December, 2015.

Late last month, KICC’s legal team moved to court seeking to block one of the companies from selling its property.

Mo Sound is one of KICC’s suppliers who moved to court and is demanding Sh54.7 million plus interest while Green Star is seeking to be paid Sh60 million for supplying and setting up equipment during the WTO opening ceremony.

KICC Chief Executive Officer (CEO) Nana Gecaga said failure by the previous management to keep proper documentation was to blame for delay in payment of the suppliers.

“I have not refused to pay. I want to make the payments within the confines of the law. I have sought a legal opinion from the Attorney General and the Auditor General is also here to check on the books. We have the money, we are only waiting for direction from the government’s legal adviser,” said Ms Gecaga.

Gechaga admitted the facility is facing financial difficulties but expressed optimism of making profits in the near future.

“We have been on the first phase of marketing KICC as the destination of choice in Africa and globally. In this phase, we have invited several local and international artists to perform. Little at now is being generated, but we will achieve a lot in the next phase,” Gecega explained.

“I am committed to ensuring that KICC becomes a global destination. I took over when there was mismanagement of the building, but we are on the right path now,” she said.