The National Treasury sought to increase the country’s gross total budget, coming four months after President William Ruto promised to slash the budget by nine percent. In the Supplementary Budget for the year 2022/23, the budget is set to increase by a further 0.4 percent to
Investors avoided Kenya’s auction of a 6-year Bond worth Ksh.87.8 billion, as the country walks a tight rope to meet its debt repayment obligation. The Bond was largely undersubscribed at 60.3 percent, with only Ksh.52.9 worth of bids received, out of which, Ksh.49 billion was accepted. Kenya
The Treasury Bills (T-Bills) remained undersubscribed when the overall subscription rate declined to 113.4%, from the 170.8% recorded the previous week. The lower subscription is partly attributable to tightened liquidity in the money market with the average interbank rate increasing to 4.8% from 4.4% recorded the
Njuguna Ndungu, the Treasury Cabinet Secretary Nominee outlined ways through which he will help shrink the ballooning domestic debt. According to Ndingu, he would explore concessional loan to offset the expensive domestic debt. Many of Kenya’s debts are commercial and have turned out expensive to repay at
The National Treasury managed to tap a mere Ksh.15.1 billion from the October Bonds against a Ksh.40 billion auction that closed on October 4. It signalled a real snub by local investors in a re-opened 10 and 15 year Bonds issue A 10-year paper with a 4.9-year
The Central Bank of Kenya (CBK) took issue with remarks made by the Deputy President Rigathi Gachagua over foreign Exchange Reserves shortage in the country. Speaking to Citizen TV on Sunday evening, Gachagua claimed Kenya was in a dire economic status and that the CBK had
Kenya’s 2022/23 National Budget will drop by 9 percent to Ksh.3.01 trillion from the current Ksh.3.31 trillion as President William Ruto rethinks strategy to lower the cost of debt repayment. The slash will take a toll on the ministries and the President has already instructed the
President William Ruto appointed his cabinet Tuesday which will help him deliver on Hustler narrative he pledged during campaign trail for the next five years. Among top key figures in the cabinet is the National Treasury Cabinet Secretary Professor Njuguna Ndungu. Professor Ndungu is the former Central
The swearing-in ceremony of President-elect William Ruto and his deputy-elect Rigathi Gachagua will cost taxpayers Ksh.200 million. This is according to the National Treasury’s Pre-election budget update report which indicates the fund is meant to ensure a smooth transition from the outgoing government to the new
The National Treasury is seeking to restructure Ksh.57.4 billion worth of publicly guaranteed loans issued to national carrier Kenya Airways (KQ). The amount covers part of KQ’s guaranteed debt principal as of the end of March this year. The disclosure by the exchequer follows the conclusion of
