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Kenya and Portugal sign avoidance of double taxation agreement

 

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Signing ceremony in Lisbon between Kenya 🇰🇪 and Portugal 🇵🇹 for avoidance of double taxation done Tuesday 10th, 2018.

 

Signing was done at the Ministry of Foreign Affairs of Portugal in Lisbon. It was signed by Cabinet Secretary, National Treasury &Planning Henry Rotich and António Mendonça Mendes, Secretary of State of Tax Affairs, Portugal and witnessed by Teresa Almeida, Secretary of State of Foreign Affairs and Cooperation, Portugal.

 

Avoidance of double taxation will create a conducive environment for investments and trade in goods and services between the countries by removing uncertainties on taxation occasioned by having two different jurisdictions at play.

 

The Draft Public Finance Management (Climate Change Fund) Regulations, 2018

 

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The Climate Change Fund (CCF) establishment is provided for under Section 25 of the Climate Change Act, 2016 as a financing mechanism for the priority climate change actions and interventions.

 

The National Treasury has finalized preparing the draft Public Finance Management (Climate Change Fund) Regulations, 2018 which have been posted to the National Treasury website www.treasury.go.ke.

 

US Companies to collaborate with Government in implementation of Big 4 Agenda

 

Nairobi, June 29, 2018

 

 

Treasury CS Henry Rotich sign an MOU with US Undersecretary for Commerce Mr Gilbert Kaplan at Treasury Building today where US companies will collaborate with the Government of Kenya in implementation of the big 4 Agenda of Jubilee government.

 

Some of the already identified projects are the 500,000 affordable housing units to be put up in the next four years, the leasing of health equipment and the road from Mombasa to Nairobi.

 

Mr Kaplan is leading a big delegation from the United States of America comprising of the US President's Advisory Council for doing business in Africa, US Private Sector players and the US government officials.

 

Present to witness the signing was the US Ambassador to Kenya Mr Robert Codec.

 

Kenya Government and United Nations Launch United Nation Development Assistance Framework (UNDAF) 2018 -2022

 

Nairobi, June 26, 2018

 

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From Left to Right: Cabinet Secretary Devolution and Arid and Semi Arid Lands (ASAL),  Eugene Wamalwa,   Cabinet Secretary  National Treasury and Planning , Henry Rotich  and United Nations Resident Coordinator /UNDP RR, Mr Siddharth Chatterjee officially sign United Nations Development Assistance Framework for Kenya (UNDAF) 2018 - 2022  today, June 26, 2018 at Panafric Hotel in Nairobi.

 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

 

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Public-Private Partnership (PPP) Disclosure Web Portal Launch

 

Nairobi, June 19, 2018

 

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The National Treasury and Planning Cabinet Secretary, Henry Rotich (Right) greets other participating officials after cutting a ribbon to officially launch the Public-Private Partnership (PPP) Projects Disclosure Web Portal Launch today, June 19, 2018 at Intercontinental hotel in Nairobi. The National Treasury, through the PPP Unit, is responsible for the overall coordination, promotion, and oversight of the implementation of the PPP program in the country, according to Kenya PPP program status report June 2018, which states that there are 72 PPP Projects in the pipeline.

 

CS Henry Rotich addresses the Press after presenting the 2018 – 2019 Budget Estimates

 

Nairobi, June 15, 2018

 

 

National Treasury and Planning Cabinet Secretary, Henry Rotich flanked by among other, Chief Administrative Secretary, Nelson R. Gaichuhie (2nd Left), Principal Secretary, Dr Kamua Thugge, National Treasury (2nd right) and Principal Secretary, Planning, Dr. Julius Muia, addresses the Press on Thursday, June 14, 2018 after presenting the 2018 – 2019 Budget Estimates of about 3 trillion at the National Assembly in Nairobi. The East frican Community member states: Tanzania, Uganda and the others, also presented their budget estimates for 2018 - 2019. 

 

CS Henry Rotich Reads 2018 – 2019 Budget Estimates

 

Nairobi, June 14, 2018

 

 

 

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich arrives and welcomed by Senior Deputy Clerk, National Assembly, Michael Sialai at the the National Assembly before he presents his  2018 – 2019 Budget Estimates of Sh 2,550.5 billion today, June 14, 2018. 

 

Budget Statement 2018-19

 

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Download the Budget Statement 2018-19

 

Kenya will be the first African country to host the sixth Tokyo International Conference on African Development (TICAD) Yokohama Action Plan in Nairobi during the second half of 2016. This will enable Kenya to strategize on the best methods to seek financial and technical support from Japan within the framework of TICAD initiative to implement priority projects in line with the Vision 2030 blue print.
The country will also utilize the forthcoming Kenya/Japan Annual Bilateral Consultations for Economic Cooperation for 2015/2016 financial year to discuss areas of future cooperation and other issues of mutual interest between the two countries.


Kenya’s cooperation with Japan is anchored currently on the fifth TICAD Yokohama Action Plan. Under the Action Plan, particularly the “Yokohama Declaration”, the road map for the support of African growth and development under the TICAD process has been clearly defined.
National Treasury Cabinet Secretary Mr. Henry Rotich, said the TICAD meeting which will be the first one in the African soil is a clear testimony that Africa and in particular Kenya is an ideal investment destination.
While signing a Ksh3.29 billion loan agreement in support of Kenya’s health sector from Japan with the country’s Ambassador Mr. Terada Tatsushi, Mr. Rotich expressed optimism that the conference will be a major success, noting that Japan is Kenya’s major development partner in diverse social and economic development projects.
He said the sixth TICAD meeting will also strengthen Kenya’s endeavours to forge ahead in trade, investment and development in the African continent and beyond, adding that other countries will exploit economic and commercial opportunities available in the country.
Japanese Ambassador to Kenya Mr. Terada, lauded the Kenyan Government for accepting to host the first TICAD meeting in Africa in 2016.
Mr. Terada said TICAD is an open, multilateral and international forum to discuss the future development of Africa. It was initiated by the government of Japan in 1993 and is currently co-organized by the World Bank, United Nations Development Programme (UNDP), the African Union Commission and the United Nations. During TICAD the fifth meeting, diverse participants namely African heads of State, International and regional organizations, the private sector, development partners and others discussed Africa’s future. TICAD V, held in Yokohama in 2013, had more than 4,500 participants including over 40 African heads of state and government.
“TICAD is one of the oldest forums to discuss Africa’s development among multi-stakeholders. When it was launched, afro-pessimism overwhelmed the discussion of Africa. TICAD has always emphasized the importance of ‘ownership’ and ‘partnership’. With these ideas, it has shed light on Africa and contributed to revive the international community’s attention to Africa”, said Mr. Terada.
“TICAD’s action plan is closely followed-up and materialized. It has had annual ministerial level follow-up meetings since 2008. During the latest meeting held Yaounde, Cameroon in May 2014, it was announced that the action plan previously agreed on is on track and has already achieved 25 percent”, he added.
Second, the Ambassador said, TICAD has brought Japanese companies to Africa. During TICAD V, the importance of the private sector in Africa’s development was emphasized. The government of Japan is assisting Japanese companies to invest more in Africa. This has seen the number of Japanese companies with offices in Kenya increased by 30 percent since 2013.
“The next TICAD conference is the first leaders’ level meeting in Africa. It has been held in Japan every five years since its beginning. The request from African countries to bring TICAD to Africa has changed its cycle to three years with the host country alternating between Japan and Africa. The African request is proof that Africa has high expectations for TICAD which brings about tangible development to Africa”, added Mr. Terada.
The Ambassador said the meeting will also strengthen Kenya-Japan relations and showcase Kenya to Japan and the International community. It has the potential to increase investment and more tourists from abroad including Japan to Kenya.
Mr. Terada said Yokohama Action Plan adopted in the TICAD V will strengthen and facilitate the promotion of development cooperation policies of health systems in a bid to accelerate the achievement of Universal Healthcare Coverage in Africa.
On new development perspective Japan intends to craft, the Ambassador said his country will host an International Conference on Universal Health Coverage in December 2015 which is geared towards building resilient health systems which will accord health sector stakeholders the great opportunity to explore the roles of Universal Health Coverage in the transition from Millennium Development Goals (MDGs) to the Sustainable Development Goals (SDGs), which will most likely challenge the world by setting higher goals regarding access to health services.

On balance of trade between Kenya and Japan, it should be noted that it is heavily against Kenya which exports comparatively low value commodities consisting of tea, coffee and cut flowers to Japan while in turn exports mainly vehicles and machinery to Kenya.
Over the years, the Far East nation has funded several development projects in Kenya which now stands at Sh469.5 billion. The colossal sum of money to Kenya in form of grants and loans, therefore demonstrates the underlying deepening bilateral ties between Kenya and Japan.

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