Tag Archives: National Treasury

Treasury Cabinet Secretary John Mbadi has justified the government’s choice to sell a stake in Safaricom to a strategic investor instead of offering the shares directly to Kenyan retail investors, saying a public sale would have reduced the share price and failed to deliver value for money. While appearing before …

Kenya’s external liquidity challenges have lessened following the early repayment of a \$2 billion Eurobond in February of last year. According to Fitch, an international credit rating agency, steady inflows of foreign currency and interventions by the Central Bank have helped raise foreign reserves to \$11.1 billion by the end …

A recent report by the National Treasury has disclosed that 38 counties allocated less than 30% of their budgets to development in the 2023/24 financial year. The Treasury emphasized that this breaches Section 102 (2)(b) of the Public Finance Management Act, 2012, which mandates that at least 30% of a …