Sharp Daily
No Result
View All Result
Thursday, May 21, 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

KCB
Analysis

KCB posts record ksh 68.4 billion profit as regional growth pays off

May 21, 2026
News

EA cables NSE return: what the rescue acquisition means for Kenya’s stock market Investors

May 21, 2026
News

The importance of liquidity management in financial markets

May 21, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images
Analysis

Finance bill 2026: Key changes set to shape kenya’s economy

May 20, 2026
News

The relationship between interest rates and equity market performance

May 20, 2026
News

The impact of exchange rate volatility on investment decisions

May 19, 2026

LATEST STORIES

Growth of Umbrella Pension Schemes Among SMEs in Kenya

May 21, 2026
KCB

KCB posts record ksh 68.4 billion profit as regional growth pays off

May 21, 2026

EA cables NSE return: what the rescue acquisition means for Kenya’s stock market Investors

May 21, 2026

The importance of liquidity management in financial markets

May 21, 2026

Cable Experts to acquire 68% stake in East African Cables from TransCentury

May 20, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images

Finance bill 2026: Key changes set to shape kenya’s economy

May 20, 2026

The relationship between interest rates and equity market performance

May 20, 2026

The impact of exchange rate volatility on investment decisions

May 19, 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