News

KRA Times TowerThe Kenya Revenue Authority (KRA) collected Ksh76.83 billion in taxes last month. The continuing focus on growing inflows from the excise duty streams through ongoing crackdown on manufacturers.
Statement of actual revenue published by National Treasury Cabinet Secretary Mr. Henry Rotich, indicates the taxman had a good start to the financial year that begun in July.
Full year target is Ksh1.215 trillion, which is 16.19 percent or Ksh170 billion higher than the Ksh1.05 trillion target for last fiscal year ended June 30.

Economic growthThe Government strives to achieve between seven to 10 per cent of sustained economic growth as stipulated by the Budget Policy Statement and Vision 2030.
National Treasury Cabinet Secretary Mr. Henry Rotich said investments in both public and private sectors of the economy will be scaled up in order to achieve the desired economic growth rate.

DSC 0643GOH: Mr. Erick Korir
Director of Procurement
Appropriate training and provision of requisite skills to the supply chain management officers in the public sector is the right step in enhancing prudent use of resources and service delivery in the country.
Director of Public Procurement in the National Treasury Mr. Erick Korir, said the government revised the public procurement curriculum to enhance skills and competencies of supply chain management officers which had been on the spotlight by the public and development partners.

Ministries, State Departments and Agencies (MDAs) have been urged to assign experienced and competent officers who are able to spearhead budget making process in a bid to ensure that the government policies and programmes are well captured and funded accordingly.
National Treasury Principal Secretary Dr. Kamau Thugge said such officers include MDAs’ heads of budget, accounting, finance, planning, and human resource management and development.

KRA Times TowerThe Kenya Revenue Authority (KRA) has given manufacturers and importers of excisable goods among them Mumias Sugar Company and Keroche Breweries, that have not acquired licences, two months to comply.
In a joint statement with the Kenya Association of Manufacturers (KAM), the taxman said manufacturers who have faced difficulties in accessing county government letters of appointment have a 64 day reprieve from the date of licensing.

Economic growthKenyan economy is showing strong recovery this year after it recorded a 5.3 percent growth in Gross Domestic Product (GDP) last year.
National Treasury Cabinet Secretary Mr. Henry Rotich said following the good economic indicators and signals, the country’s GDP is therefore expected to grow by 6 percent this year.
“This resilient performance of the economy despite experiencing a number of domestic and external shocks is testament to the successful economic transformation programme that the Government has put in place so far”, said Mr. Rotich.

DSC 8712

Cabinet Secretary, The National Treasury, Henry Rotich  makes keynote address today, Wednesday, August 26, 2015 during the Launch of the Sector Working Groups and Preparation of 2016/2017 -2018/2019 Medium Term Budget at the Kenyatta International Convention Center in Nairobi.

DSC 8672

Cabinet Secretary Planning and Devolution, Anne Waiguru makes her remarks today, Wednesday, August 26, 2015 during the Launch of the Sector Working Groups and Preparation of 2016/2017 -2018/2019 Medium Term Budget at the Kenyatta International Convention Center in Nairobi.

The National Treasury has rolled out Integrated Financial Management Information System (IFMIS) electronic procurement (e-procurement) throughout the country to serve Kenyans effectively on issues relating to public procurement.
National Treasury Cabinet Secretary Mr. Henry Rotich, said the IFMIS e-Procurement module will also enhance transparency and accountability in procurement process from procurement planning, requisition, sourcing, and to payment.

cbkThe number of transactions carried out by bank agents in the three months to June nearly doubled compared to the first quarter of the year.
Central Bank of Kenya (CBK) said the agents conducted 25.9 million transactions worth Sh112.7 billion in the second quarter of the year compared to 13.4 million worth Sh74.7 billion in the first three months of the year.
“As at June 30,2015 there were 17 commercial banks that had contracted 36,080 agents which had facilitated 175.4 million transactions valued at Sh817.5 billion”, said CBK.

DSC 8292
Cabinet Secretary, the National Treasury, Henry Rotich makes opening remarks today, Monday, August 24, 2015 when he officially opened a one-day IFMIS e-procurement Training for County Assemblies Clerks at the Kenya School of Monetary Studies in Nairobi.

 DSC 8252
Chairman, the Societies of the Clerks of County Assemblies Edward Libedi makes his remarks today, Monday, August 24, 2015 during the official opening of a one-day IFMIS e-procurement Training for County Assemblies Clerks at the Kenya School of Monetary Studies in Nairobi.

The Procurement In-Service Curriculum Stakeholders’ Forum held at the Kenya School of Government Nairobi (KSG) was in line with our country’s development agenda and more so Vision 2030 blueprint.
The ultimate goal of the Vision is to transform Kenya into a middle income country by 2030. This can only be achieved by providing the relevant skills to the procurement officers through appropriate training.
The Director of Procurement in the National Treasury Mr. Erick Korir, who moderated the Procurement In-Service Curriculum Stakeholders’ Forum recently at KSG, said he was impressed by procurement officers noble idea to revise the curriculum which solely focusses on equipping them with requisite skills and competencies through curriculum review.

Every human being deserves good healthcare regardless of age and social class which have been some of the challenges in developing countries hindering equal access to healthcare services. Japanese Ambassador to Kenya Mr. Tatsushi Terada said that in this context, his country’s support towards the achievement of Universal Healthcare services will continue in the developing countries.

DSC 7475

Cabinet Secretary Nnational treasury Henry Rotich makes opening remarks as he officially opens the e-Procurement overview for Council of governors in safari park, Nairobi ,Thursday, August 20, 2015.

DSC 7456
Wycliffe Oparanya, Chairman Finance, Planning and Economic Affairs Committee makes his remarks during the opening of  the e-Procurement overview for Council of governors in safari park, Nairobi ,Thursday, August 20, 2015.

Cash-strapped companies partly owned by the Government have put up some of their assets for sale in a bid to stay afloat and also to help them focus on their core mandate.
These cash-strapped companies include Kenya Airways (KQ), National Bank of Kenya (NBK), Uchumi Supermarkets and Telkom Kenya.
Kenya Airways is expected to raise about Sh10 billion from the sale of seven of its 52 aircraft and part of its prime land in Embakasi to cut debts it owes suppliers.

cbkThe Central Bank of Kenya has placed Dubai Bank under receivership after the lender failed to repay money borrowed from other financial institutions to keep it afloat.
Announcing the move, Central Bank said the action was taken in the interest of the depositors, creditors and members of the public. Kenya Deposit Insurance Corporation (KDIC) was appointed as the receiving manager for a year.

DSC 6926Participants(CEC's)  follow proceedings during the opening a one-day IFMIS E-Procurement Overview for County Executive Committee members - finance and Clerks of County Assemblies workshop today, August 18, 2015 at the Kenya school of Monetary Studies.






Treasury, August 25,2015: By Joseph Kipkoech.
Japan’s development cooperation growth portfolio to Kenya from independence to date stands at Ksh469.5 billion. Over the years, the projects that have benefited from the Japanese development assistance include Jomo Kenyatta University of Agriculture and Technology, and Kenya Medical Research Institute which have provided leadership in technology and innovation, and medical research respectively.
Others include the construction of the Nairobi Missing Road Links Project, Embu Water Supply and Kapsabet town water development system.

Japan’s development cooperation growth portfolio to Kenya from independence to date stands at Ksh469.5 billion.
National Treasury Cabinet Secretary Mr. Henry Rotich said that over the years, the projects that have benefited from the Japanese development assistance include Jomo Kenyatta University of Agriculture and Technology, and Kenya Medical Research Institute which have provided leadership in technology and innovation, and medical research respectively.

Budget Sector Working groups urged to uphold hard budget constraint in view of scarce resources for allocation
Budget Sector Working groups (SWGs) preparing 2016/18 financial years Medium-term expenditure framework have been urged to uphold hard budget constraint in view of the limited available resources for allocation.
Director of Budget in the National Treasury Mr. Francis Anyona said expenditure requests outside the Sector Working groups will not be considered anymore by the Ministry in view of the scarce resources.

The National Treasury will launch the Sector Working groups tomorrow to mark the commencement of the preparation of 2016/17-2018/19 medium-term budget process.
The National Treasury Principal Secretary Dr. Kamau Thugge, said the launch will take place at Kenyatta International Convention Centre (KICC) as from 8.30 a.m. to 1.00 p.m.
In a press release to the media, Dr. Thugge said Accounting Officers and invited guests should attend the launch in order to present their views on the budget issues to be discussed.