Kenyatta International Convention Centre (KICC) CEO James Mwaura has dismissed claims that the state corporation is operating at a loss.
Appearing before the Senate’s National Cohesion and Equal Opportunity Committee on Monday, Mwaura maintained that KICC remains profitable, having recorded a profit of over Ksh200 million in the current financial year.
He added that the corporation has the potential to generate up to Ksh700 million annually if the environment in Nairobi’s central business district remains stable and calm.
However, senators questioned the government’s heavy investment in KICC renovations, arguing that the returns did not justify the spending.
The lawmakers sought clarity on whether the state’s continued financial input was sustainable given the revenue generated by KICC.
In the financial year ending June 2024, KICC posted a profit of Ksh230 million after tax.
For over five decades KICC has served as the region’s leading conference facility hosting major global events.
By Prudence Wanza
