Sharp Daily
No Result
View All Result
Wednesday, May 20, 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

Lawmakers allocate KES 387 billion to counties for 2024/2025

Teresiah Ngio by Teresiah Ngio
November 21, 2024
in News
Reading Time: 2 mins read

In a significant move for county governments, lawmakers have agreed to allocate KES 387 billion for the Financial Year 2024/2025, marking an increase of KES 2 billion from the previous year. This decision follows extensive deliberations by an 18-member mediation committee, co-chaired by Kiharu MP Ndindi Nyoro and Mandera Senator Ali Roba.

The committee cited the challenging economic conditions faced by counties as the key reason for the increment. Nyoro highlighted that factors such as revenue performance, inflation, and rising operational costs for devolved units were central to the decision. “We are facing the reality as it is, without sugarcoating. While we are willing to allocate more funds to counties, revenue shortfalls present significant challenges,” the committee stated.

The agreement was reached after a tense standoff between the Senate and the National Assembly, which had differing views on the allocation. The Senate had initially called for KES 400.1 billion, while the National Assembly insisted on KES 380 billion. This disagreement had the potential to disrupt county operations and stalled critical funding for various services.

After tough negotiations, the mediation committee decided to reinstate last year’s allocation of KES 385 billion, adding an additional KES 2 billion to reach the final figure of KES 387 billion. “After thorough deliberations and hard negotiations, we reinstated last year’s allocation and added an additional KES 2 billion,” Nyoro explained.

RELATEDPOSTS

NSE secondary bond market surges

April 16, 2026

The talks also featured criticism from Nairobi Senator Edwin Sifuna, who opposed the Treasury Cabinet Secretary’s involvement in the final decision-making process. “We as parliament should not be the ones ceding the power that is vested in parliament to other organs of state,” Sifuna stated.

Despite the challenges, Treasury Cabinet Secretary John Mbadi played a pivotal role in urging governors to accept the National Assembly’s proposal, acknowledging that the economy could not support the Senate’s proposed KES 400 billion. The final agreement aims to balance the financial needs of county governments with the country’s fiscal constraints,.

Previous Post

Ruto calls for swift action against femicide, with new campaign

Next Post

Teacher fined KES 300,000 for caning pupil 107 times

Teresiah Ngio

Teresiah Ngio

Related Posts

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
Entertainment

The Spotify “Disco Ball” Branding Stunt

May 18, 2026
News

The influence of commodity prices on investment markets

May 18, 2026
News

Safaricom’s fuel strategy highlights growing energy risks facing Africa’s digital economy

May 15, 2026

LATEST STORIES

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

Equity Group Holdings move to extend its footprint across Southern Africa

May 19, 2026

The Spotify “Disco Ball” Branding Stunt

May 18, 2026

Court to decide on Kenya’s Sh204 billion Safaricom stake sale

May 18, 2026

The influence of commodity prices on investment markets

May 18, 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