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Cooperation between Kenya and Spain especially on Kenya's Big Four Plan and promotion of trade and investments

 

Nairobi, 10th June, 2019

 

Cooperation between Kenya and Spain especially on Kenya's Big Four Plan and promotion of trade and investments will go a notch higher. This was revealed during a meeting held between The National Treasury and Planning Cabinet Secretary, Henry Rotich and a Spanish delegation led by H.E. Joseph Borrell, the Minister for Foreign Affairs, European Union and Cooperation of Spain at the Treasury Building, today. This is the first visit of a Spanish Minister of Foreign Affairs to Kenya in 40 years.

 

Concept on creating one million jobs in Africa and Globally: Closing the SDG Data Gap and advancing digital literacy

 

Nairobi, 7th June, 2019

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich today held a meeting with United Nations (UN) World Food Programme (WFP) officials led by Stanlake Samkange, Senior Director for Strategic Coordination and Support at the Treasury Building. Their topic of discussion was; "Concept on creating one million jobs in Africa and Globally: Closing the SDG Data Gap and advancing digital literacy" initiative by investigating the Specific Country needs. The Objective of WFP proposal is to support at least one million jobs for youth aged 18-35 in Africa and other parts of the world.

The effort aims to improve the economic situation and livelihoods of these young people and their families, many of whom are vulnerable and food insecure, while filling data gaps for SDG indicators and national and regional development agendas, and creating further opportunities for digital learning and skills development among youth.

 

Budget Statement for the Fiscal Year 2019/20 Budget

 

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Nairobi, 30th May, 2019

 

This is to notify the general public that the Budge Statement for the Fiscal Year 2019/20 Budget will be delivered by the Cabinet Secretary, National Treasury and Planning, in the National Assembly on Thursday, the 13th June, 2019 at 3:00p.m

 

Dr. Kamau Thugge, CBS

Principal Secretary/ National Treasury

 

The National Treasury & Planning launches the Kenya Mortgage Refinance Company (KMRC)

 

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Nairobi, May 22nd, 2019

 

The Government outlined four key development priorities (The BIG 4 Agenda) for implementation over a five-year period (2018- 2022). Key among this is Affordable Housing with a target to deliver at least 500,000 affordable housing units in major cities around the country.

 

 

Kenya successfully issues USD 2.1 Billion Euro Bond on 15th May 2019

 

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Nairobi, May 15th, 2019

 

1. The Government of Kenya, acting through the National Treasury and Planning, has successfully priced a new US dollar 2.1 billion, dual-tranche Eurobond of 7-year and 12-year tenors on 15th May 2019 in London, United Kingdom.

 

Launch of the Retirement Benefits Authority 5th five-year Strategic Plan 2019-2024

 

Nairobi, May 7th, 2019

 

"The National Treasury will censure state corporations that fail to remit pension deductions to their pension schemes in a timely manner," said The National Treasury and Planning Cabinet Secretary, Henry Rotich during the launch of the Retirement Benefits Authority 5th five-year Strategic Plan 2019-2024 at the K.I.C.C today. Rotich added that the Government is committed to commencing the contributory Public Sector Superannuation Scheme.

THE 2019 AFRICAN THINK TANKS SUMMIT

 

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Nairobi, April 24, 2019

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich has commended The African Capacity Building Foundation - ACBF for the role they have played over the last three decades in addressing Africa’s capacity challenges. This was during the Official Opening of the 2019 African Think Tanks Summit held at KICC today.

 

CS Rotich registers for Huduma Namba

 

Nairobi, February 17, 2019

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich, today led his staff in registering for the Huduma Namba at the building in Nairobi. The CS urged the public to turn up in large numbers during the ongoing registration under the National Integrated Identity Management System (NIIMS). More than 8 million people have registered in the countrywide registration process.

 

Public Notice on the Draft Comprehensive Policy on Unclaimed Financial Assets

 

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Kenya has come a long way in the development of strong governance frameworks for the various subsectors in the larger financial services industry. Specifically, with regard to the unclaimed financial assets regime, the regulatory framework conceived over seven years ago has witnessed considerable achievements that are now reflected in the work of the Unclaimed Financial Assets Authority (UFAA). These achievements, however, need to be accompanied by a robust reunification strategy, which is the most important pillar of the unclaimed financial assets regime. During the period of implementation of the Unclaimed Financial Assets Act, 2011 a lot of valuable lessons have been learnt and gaps identified in the original idea reflected in the architecture of the Act. It is against this backdrop that the Government has drafted this comprehensive policy on unclaimed financial assets. The policy is intended to strengthen the unclaimed financial assets regime in Kenya and guide further review and amendments to the relevant existing laws and regulations.

 

Government Assets & Liabilities Management

 

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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.


KRA missed the target for the 2014/15 year by a marginal 4.76 percent, collecting Ksh1.001 trillion which was however 3.86 percent more than the Ksh963 billion it netted in the year ended 2013/14. Last year’s revenues were boosted by intensified audits on transfer pricing by multinationals.
KRA Commissioner General Mr. John Njiraini, on July 1, backed electronic tax surveillance services through the iTax system and last year’s placing of senior staff on three-year contracts to boost collections this year.
“If we have already been able to achieve an annual growth of 15 percent for the last 10 years, we should even see better achievement in the future based on what we have put in place and the action that we are taking to also encourage Kenyans to partner and work with us”, Mr. Njiraini said.
The KRA had started this year with increased scrutiny on manufacturers and importers where it believes substantial revenue could be leaking.
The agency has embarked on a crackdown on manufacturers who have not complied with stringent excise licensing rules, a move Mr. Njiraini said will make manufacturers tax compliant.
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