{
  "id": 16159159,
  "title": "UoN pressed to unlock Sh200bn assets to clear debts",
  "url": "https://urgent.news/2026/10/23/uon-pressed-to-unlock-sh200bn-assets-to-clear-debts",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-23T06:40:39.000Z",
  "source": {
    "name": "Capital Business",
    "slug": "capital-business",
    "url": "https://capitalfm.africa/uon-pressed-to-unlock-sh200bn-assets-to-clear-debts/"
  },
  "original_language": "en",
  "account": "Nairobi, Kenya – The University of Nairobi’s management faces tough questioning from Members of Parliament over a Sh20 billion deficit and how the institution intends to clear its debts despite its substantial asset base of over Sh200 billion. The Parliamentary Public Investments Committee on Governance and Education leveled accusations at Vice Chancellor Ayub Gitau, demanding a concrete plan to address the financial shortfall and meet the university’s obligations to staff and creditors.\n\nCommittee Chair Dick Maungu expressed frustration, stating that the university had not demonstrated a clear link between its asset reports and its financial challenges. \"Members are concerned because, as you indicated, there is no nexus between the report presented and what you have said. You have an asset base of more than Sh200 billion, but now the people who are suffering are the staff and creditors,\" Maungu remarked.\n\nGitau informed the committee that the university is actively seeking to commercialize its assets to increase revenue. \"We have a deficit of about Sh20 billion. We are in the stages of commercializing our asset base, which totals about Sh200 billion,\" he stated. The vice chancellor also revealed that the institution is implementing austerity measures to control spending and maximize existing resources. However, the committee insisted on seeing evidence that the proposed measures would generate income and alleviate outstanding payments.\n\nThe university has yet to present a detailed timeline, outlining how the commercialization plan will help reduce the deficit and settle debts owed to employees and creditors.",
  "summary": "NAIROBI, Kenya, Oct 22 – Members of Parliament have questioned the University of Nairobi’s management over its Sh20 billion deficit, demanding a clear plan to settle debts despite the institution’s…",
  "key_points": [
    "University of Nairobi faces Sh20 billion deficit",
    "Vice Chancellor Gitau seeks to commercialize Sh200bn assets",
    "Committee demands concrete plan to address financial challenges"
  ],
  "editors_take": "The university's inability to convert massive property holdings into liquid cash forces staff and creditors to bear the burden of a significant deficit while management seeks new revenue streams.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}