@BusinessDaily

Government is not broke: Rotich

8 months ago, 8 Mar 11:22

By: Agewa Magut

Treasury Secretary Henry Rotich has dismissed media reports that the government is broke as "fake news". He cited the recent Sh200 billion Eurobond as proof, saying investors would not pump cash into the country if it was not doing well. "How can the CEO of a broke company keep giving money for projects?" he pondered Thursday. Yesterday, the CS had signalled to Senators that the annual allocation to county governments will be reduced by Sh18 billion while that of the national government will be cut by Sh60 billion. This, he said, was in a bid to trim the current budget following revenue shortfall of Sh84 billion after the Kenya Revenue Authority (KRA) missed its collection targets. Do business with govt The CS, who was speaking at the 'Girls Matter' event at KICC in Nairobi today, urged young women to take advantage of the Access to Government Procurement Opportunities (AGPO) and do business with the government. He also encouraged them to make use of the affirmative action funds available to give them loans to do business. The funds, which include the Youth Enterprise Development Fund, Women Enterprise Fund and Uwezo fund, will be consolidated into the Biashara fund, Mr Rotich said. The event was attended by about 2,000 young women, mostly entrepreneurs. Invitation was through networking, hence no advertisements were made.
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@BusinessDaily

Government is not broke: Rotich

8 months ago, 8 Mar 11:22

By: Agewa Magut
Treasury Secretary Henry Rotich has dismissed media reports that the government is broke as "fake news". He cited the recent Sh200 billion Eurobond as proof, saying investors would not pump cash into the country if it was not doing well. "How can the CEO of a broke company keep giving money for projects?" he pondered Thursday. Yesterday, the CS had signalled to Senators that the annual allocation to county governments will be reduced by Sh18 billion while that of the national government will be cut by Sh60 billion. This, he said, was in a bid to trim the current budget following revenue shortfall of Sh84 billion after the Kenya Revenue Authority (KRA) missed its collection targets. Do business with govt The CS, who was speaking at the 'Girls Matter' event at KICC in Nairobi today, urged young women to take advantage of the Access to Government Procurement Opportunities (AGPO) and do business with the government. He also encouraged them to make use of the affirmative action funds available to give them loans to do business. The funds, which include the Youth Enterprise Development Fund, Women Enterprise Fund and Uwezo fund, will be consolidated into the Biashara fund, Mr Rotich said. The event was attended by about 2,000 young women, mostly entrepreneurs. Invitation was through networking, hence no advertisements were made.
Read More

Category: business corporate news economy markets lifestyle opinion

Suggested

11 hours ago, 18:11
@DailyNation -
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Counties in the Rift Valley have renewed their push for control of close to 45 large tea estates and 30 factories as most of the leases held by multinational corporations expire. ...

Category: topnews news business
12 hours ago, 17:49
@BusinessDaily - By: Victor Juma
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London-based Red Rock Resources is set to resume production of gold estimated at more than Sh100 billion in Migori after settling a court case with the government which had terminated its mining ...

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The housing department is set to receive the lion’s share of Sh47.25 billion after the Treasury reorganised its spending plan in favour of President Uhuru Kenyatta’s “Big Four” economic plan. ...

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Kenya ranked Africa’s third most attractive finance market

Kenya is now ranked third most attractive financial market in Africa after South Africa and Botswana, buoyed by stronger policies and a host of newly launched products, a new survey shows. ...

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