Kenyatta International Convention Centre (KICC) Chief Executive Officer James Mwaura has dismissed allegations that the state corporation is running at a loss, stating that it recorded a net profit of over Ksh 200 million this financial year.
Appearing before the Senate’s National Cohesion and Equal Opportunity Committee, Mwaura affirmed that KICC has the potential to generate up to Ksh 700 million annually, provided tranquility is maintained in Nairobi’s Central Business District (CBD).
He further defended the ongoing renovations, arguing that upgrading the convention center to international standards would attract more clients and boost revenue.However, senators raised concerns over the government’s heavy investment in the project, questioning whether the Ksh 1.9 billion being spent on renovations is justifiable compared to the revenue KICC generates.
Lawmakers emphasized the need for a clear return on investment strategy to ensure the funds yield tangible economic benefits.The debate over KICC’s financial sustainability and the justification for the multi-billion-shilling facelift is expected to intensify.
