Sharp Daily
No Result
View All Result
Tuesday, September 16, 2025
  • 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

No Content Available

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

News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025
News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025

LATEST STORIES

Real Estate project financing models shaping successful developments

September 12, 2025

Alternative investments: Opportunities and risks

September 12, 2025

Mid-September momentum: CMMF posts strong yields and growing trust

September 12, 2025

Unlocking Home Ownership Through Retirement Savings in Kenya

September 12, 2025

The role of FDIs in driving sustainable development

September 11, 2025

How increased oversight can clean up the insurance sector without stifling innovation

September 11, 2025

Why retail investors hold the key to Kenya’s capital market growth

September 11, 2025

Kenya’s new banking policies: A turning point for the financial sector

September 11, 2025
  • 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