The total amount of pending bills owed by both the national and county governments increased by about Sh102.21 billion in the first nine months of the 2022/23 financial year. An analysis of a report released by the Office of Controller of Budget shows that the total outstanding bills for both the national and county governments stood at about Sh689.26 billion as of March 31, 2023, compared to about Sh587.05 billion reported on 31st March 2022. This amount, the report shows, comprises of some Sh529.53 billion (76.8%) owed by the national government and another Sh159.94 billion (23.2%) owed by counties. The national…
Author: Silas Apollo
Kenya currently sends roughly one-fifth of all its exports to the EU, its biggest market. The Kenya government and the European Union on Monday announced the conclusion of negotiations for an economic partnership that is expected to boost trade in goods and services between Kenya and the EU. The negotiations for an Economic Partnership Agreement (EPA), were concluded during an official ceremony in Nairobi by EU Executive Vice-President and Commissioner for Trade Valdis Dombrovskis and cabinet secretary for trade and investments Moses Kuria, in the presence of President William Samoei Ruto. EPA is poised to be the most ambitious EU…
ARC Ride has grown to become a central player in the e-mobility sector, boasting a catalogue of electric motorbikes and tuk-tuks When Jo Hurst set out on a journey to Africa to work in clean energy about 20 years ago, he had no idea that the trip would one day land him in Kenya, pioneering the adoption of electric motor vehicles and bicycles in the country. Hurst, an investor, and researcher of clean and renewable energy, is the founder and chief executive officer of ARC Ride, a mid-size company in Nairobi assembling and selling electric motorcycles and tuk-tuks. The company…
The Senate has established a special committee to investigate the proposed removal from office by impeachment of Siaya Deputy Governor William Oduol. Senate Leader of Majority Aaron Cheruiyot, in a motion tabled in the House, moved members to adopt a list of 11 Senators to investigate the allegations raised against the Deputy Governor. Oduol was on June 8th, 2023, impeached by members of the Siaya County Assembly after the MCAs approved a motion to remove him from office as the deputy governor of the county. The speaker of the County Assembly of Siaya conveyed to the Senate Speaker a resolution…
Budget highlights 2023/24 The ministry of Education is one of the biggest beneficiaries in this year’s budget, receiving the lion’s share of funds allocated to ministries, departments and state agencies. A document on the budget highlights released by the National Treasury shows that the ministry of education will receive about Sh630 billion in the 2023/24 Financial Year, making it one of the best earners of funds from the national government. The funds, according to the highlights, represents about 27.4% of the entire budget and will be used to promote shared prosperity, by providing accessible and quality education to all Kenyans. The…
National carrier defied improved its financial performance by reducing operating losses from Sh6.8 billion to Sh5.6 billion despite weak shilling Kenya Airways reported significant improvement in its revenue collection for the 2021/22 financial year, signifying a positive outlook for the airline which has struggled for years to turn around its fortunes. The airline’s chief executive officer, Allan Kilavuka, in a meeting with MPs in Parliament, said that KQ recorded a 66 percent improvement in revenue, compared to what it collected in the 2020/21 financial year. Speaking during a meeting with the National Assembly’s Public Debt and Privatisation Committee, Kilavuka said…
The National Assembly has formally adopted the bi-partisan committee formed by President William Ruto and Azimio la Umoja One Kenya leader Raila Odinga to address the grievances raised by the opposition coalition during the country-wide demonstrations. The decision by MPs to adopt the committee follows a communication issued by the House Speaker Moses Wetang’ula, asking the leadership of both the majority and minority parties to formalize the recognition of the bipartisan talks committee in accordance with the Standing Orders of both Houses. In his communication to the House, Wetang’ula stated that he and his Senate counterpart Amason Kingi are committed…
Ugandan President Yoweri Museveni has dismissed reports of failing health following his diagnosis with Covid-19 last week. Museveni, in a statement released over the weekend, said that he had taken time to self-isolate out of the country’s capital of Kampala after he tested positive of the virus last week. The Ugandan leader argued that the virus, by domesticating him, had instead helped him catch up with office paper work. “Greetings. Day 4 of my corona status has seen me assault, all day long, 3 loadfulls of government papers. I started at 6:30am (Saa kumi na mbiri, in our African languages,…
Kenya’s gross public debt has increased by over Sh488.1 billion since the Kenya Kwanza administration took office, raising the total debt owed to both domestic and foreign lenders to about Sh9.6 trillion. New data by the National Treasury, shows that as of March 30, 2023, the country had already increased its borrowing, as the new administration sought to meet its obligations in running the government. The new figures now means that the country’s total debt is about 66% of the Gross Domestic Product (GDP) in nominal terms, compared to Sh9.1 trillion at 67% of GDP as of the end of…
Kenya and the United Kingdom have once again delivered on commitments made at COP27 to combat climate change, create jobs and generate affordable power for Kenyans. This is after a ground-breaking took place at Menengai Geothermal Power Plant, one of the six green investment projects – worth Sh500 billion – that were fast-tracked by President William Ruto and UK Prime Minister Rishi Sunak at the COP27 climate summit. The project will be led by Globeleq, a UK company backed by British International Investment. The geothermal plant is expected to generate 35MW of electricity, providing 750,000 Kenyans with affordable, clean energy.…