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  • Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016
  • Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016
  • Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016
  • Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016
  • Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016

Treasury News

Launch of a Task-force for development of the Public Procurement and Asset Disposal Regulations, 2016

DSC 8806Cabinet Secretary Henry Rotich  during the inauguration of a mult-sectoral task force to deveop the  public procurement and asset disposal regulations, 2016 at the Treasury Building on Thursday 21st April 2016

 

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Signing a Ksh. 1.84 billion loan agreement

Cabinet Secretary for National Treasury Henry Rotich signing a Ksh. 1.84 billion loan agreement with the Ambassador of the Kingdom of Belgium to Kenya Ms. Roxane de Bilderling today at the Treasury Building.
The loan is for Vihiga Cluster Water Supply Project.  The money will be used to renovate and expand the Maseno, Kaimosi and Mbale water supply systems in Vihiga County.

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Signing of Letter of Intent, today, Monday, April 11, 2016


National Treasury Cabinet Secretary Henry Rotich (2nd Right) and Korean Ambassador to Kenya Mr Kwon Young-dae (2nd left) discuss today, Monday, April 11, 2016  at the Treasury Building when they signed the letter of intent to support the Mobile Development Cooperation Project (Grant). Looking on are Moses Kanagi, Acting Director, External Resources, National Treasury and an official from the Korean Embassy. The project will comprise three mobile programs, the first, medical programs which will provide medical services and on-site clinical; diagnosis by certified nurses in trucks with built-in medical facilities and ambulance. The second, is food program, which aims at providing and ensuring people's nutritional needs are met using trucks with basic built-in food preparation apparatus. And the third, is the culture program, which aims to utilize cultural elements using a truck outfitted with Audi-video equipment to enrich the developed activities of the medical and food programs.

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Press Conference

Press ConfernceThe National Treasury Cabinet Secretary Henry Rotich addressing press conference on updating the development of financial sector in Banks following the appointment of Kenya Deposit Insurance Corporation [KDIC] as a receiver for Chase Bank Limited by the Central Bank of Kenya [CBK] and also assured the public the rest of the Banks are sound at Kenyatta International Convention Centre today.He is flanked by the Central Bank of Kenya Governor Dr.Patrick Njoroge [centre] and the Chief Executive Officer of Kenya Bankers Association Habil Olaka [right] among others .

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Signing of notes for Olkaria V Geothermal Power Plant

Cabinet Secretary, Henry Rotich (Centre) and Japanese Ambassador to Kenya Tatsushi Terada (Left) today, Wednesday, March 9, 2016 at the National Treasury building sign notes for Olkaria V Geothermal Power Plant in which Japan loans Kenya Sh 40 billion (45.69 billion Yen) for the construction of the 140 MW geothermal power plant. Looking on right is the Cabinet Secretary, Petroleum and Energy, Charles Keter. Present also was Eng. Albert Mugo, Managing Director and CEO, Kengen. The overall goal of the project is to enhance electricity power supply in Kenya for a conducive investment environment and sustainable development.

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High interest rates and impact on the cost of living as companies and the public react to changes effected by banks, with the shilling tumbling to 103.71 last month before rebounding to Sh101.1 against the dollar on Wednesday could pose threat to economic growth.
Coming at a time when the country is facing a slow economic expansion and borrowing costs have hit a two-year high, Central Bank’s efforts to stem the shilling’s slide by intervening in the foreign exchange market and mopping up liquidity has not had the desired effect.


When banks hike lending rate, it signals difficulties for companies and individuals currently servicing loans, leading to a significant change in growth projections as plans based on old interest rates are revised.
Those planning to start businesses and invest in additional funds following the revisions need to take into account new rates, and investors who had planned to expand facilities by importing machinery must align their costs to the new regime.
Interest rates, just like fuel and energy, normally have an impact on all strata of the economy. The revision in interest rates has a knock-on effect on the economy and could lead to less investment as people shy away from “expensive capital” inputs-the effect, if widespread, could lead to a higher inflation as investment funds become more costly.
Analysts say companies are now working towards doing more with less by becoming more efficient in energy use and reducing wastage.
They say the liquidity problem needs to be managed by the Central Bank, the National Treasury and the government in general who must reduce the current account deficit by increasing exports while managing expenditure and receipts.
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