This archive report was first published on 16 September 2019.
On September 16, 2019, Crown Paints suspended its direct sales arrangement with counties, citing huge payment delays that threatened to send the firm into cash flow constraints.
The company, listed on the Nairobi Securities Exchange, has now resorted to supplying its products through dealers in a bid to protect itself from the delays.
Despite the President's directive to clear all pending bills before the start of the current financial year, counties have continued to accumulate approximately Kshs 108.4 billion in claims from contractors and suppliers.
Crown Paints (Kenya) PLC, established in 1958, operates in Kenya, Uganda, Tanzania, and Rwanda, with an annual turnover of KShs. 7.3 billion in 2017 and producing 2 million litres of paint per month, employing over 1,000 staff members.
