Sharp Daily
No Result
View All Result
Thursday, June 18, 2026
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Governor Malombe defends Kitui’s 390-bank-account structure

Teresiah Ngio by Teresiah Ngio
September 14, 2024
in News
Reading Time: 1 min read

Kitui Governor Julius Malombe has defended the county’s extensive network of over 390 bank accounts, attributing the large number primarily to Kitui’s vast network of health facilities and educational institutions.

Malombe appeared before the Senate Devolution and Intergovernmental Relations Committee to address concerns over the county’s complex banking structure.

“The reason why we have many health facility accounts is because Kitui has the highest number of health facilities in the Republic of Kenya,” Malombe stated, emphasizing that the county manages 308 facilities—more than any other county in the nation.

Each of these health facilities, along with Technical and Vocational Education and Training (TVET) institutions, requires a separate bank account, according to the governor.

RELATEDPOSTS

Accounting

Accrual Accounting And The Kenyan Government

February 28, 2023

Governor Malombe outlined that Kitui County maintains 20 accounts at the Central Bank of Kenya, including a County Revenue Fund (CRF) account, a Development account, a Recurrent account, and 16 program-specific accounts. “Some of these programs have ended, and we just need to close them,” he explained, suggesting that efforts are being made to reduce the number of active accounts.

Acknowledging the concerns raised by the Senate Committee, Malombe advocated for a more streamlined approach to managing county finances. He proposed that the Council of Governors, the Controller of the Budget, and the Auditor General should discuss ways to align and improve the efficiency of county banking structures.

The Senate committee raised questions about the feasibility of significantly reducing the number of accounts, particularly given the need to effectively manage funds for TVETs and health facilities.

The issue of Kitui’s numerous accounts had also been highlighted in the 2022/2023 Audit Report for the county.

Previous Post

Jimi Wanjigi files petition for return of KES 8.5 million seized items

Next Post

CS Mutua announces roadshows to promote overseas jobs for Kenyans

Teresiah Ngio

Teresiah Ngio

Related Posts

News

Africa faces fish supply squeeze despite record global production, UN report warns

June 17, 2026
News

Digital Identity Infrastructure and Trust in Modern Fintech Systems

June 16, 2026
News

Data-Driven Lending and Credit Scoring in Digital Finance

June 16, 2026
Money

Kenya misses out on World Bank emergency funding as Sh97.1 billion loan awaits approval

June 16, 2026
News

Understanding market capitalization and its importance in investment analysis

June 15, 2026
Banking

CBK moves to expand emergency lending powers as Kenya strengthens banking sector stability

June 15, 2026

LATEST STORIES

Africa faces fish supply squeeze despite record global production, UN report warns

June 17, 2026

Kenya proposes new shisha rules with fines rising to Sh1 million

June 16, 2026

Digital Identity Infrastructure and Trust in Modern Fintech Systems

June 16, 2026

Data-Driven Lending and Credit Scoring in Digital Finance

June 16, 2026

Kenya misses out on World Bank emergency funding as Sh97.1 billion loan awaits approval

June 16, 2026

Understanding market capitalization and its importance in investment analysis

June 15, 2026

CBK moves to expand emergency lending powers as Kenya strengthens banking sector stability

June 15, 2026

Kenya Airways seeks Sh194 Billion to rescue itself from debt crisis

June 15, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024