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131 Pages«<129130131
Kenya Economy Watch
littledove
#2601 Posted : Friday, February 26, 2021 8:50:50 AM
Rank: Member


Joined: 7/1/2014
Posts: 827
Location: sky
https://www.businessdailyafrica.com/bd/economy/mps-sh9trn-debt-cap-for-extra-borrowing-3304514
Sad Sad Sad
Parliament will enlarge the debt ceiling currently set at Sh9 trillion to accommodate Treasury’s borrowing for development spending, Majority Leader Amos Kimunya has said.

Mr Kimunya said the National Assembly will look at the reasons behind the Treasury’s proposal to increase the statutory debt ceiling and act accordingly once the request is tabled in the House.

“We don’t want debt to rise but Kenyans want development. We will look at the Treasury proposals and if it is for raising money for development, we have no problem even if they want the ceiling set at Sh20 trillion,” Mr Kimunya said.
THESE GUYS WILL TOTALLY MESS THE COUNTRY BEFORE 2022
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
Ericsson
#2602 Posted : Monday, March 15, 2021 11:19:31 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
..
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2603 Posted : Monday, March 15, 2021 11:20:39 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
https://www.businessdail...urrent-expenses-3323040

Debt servicing costs have for the first time surpassed recurrent expenditures such as salaries, allowances and government administrative expenses, underlining the pressing burden on taxpayers.

Treasury secretary Ukur Yatani says in the latest disclosures total debt repayments, which are largely being driven by fast-maturing commercial and semi-concessional loans, amounted to Sh638.29 billion in the eight-month period through February 2021,
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2604 Posted : Monday, March 15, 2021 11:24:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
https://www.businessdail...ault-helb-loans-3323148

About 106, 443 former university students have defaulted on their Higher Education Loans Board (Helb) in the wake of Covid-19 pandemic that triggered layoffs, business closure and freeze in hiring.

Helb data tabled shows loan accounts in default increased by 35, 561 in the six months to December with the defaulted loans increasing 55 per cent or Sh3.7 billion to Sh10.4 billion in the period when the virus ravaged corporate Kenya.
Loan defaulters have weakened the Helb’s ability to support university and technical college students, prompting allocation cuts and requests for Sh8.6 billion additional funding from the Treasury.

“As at December 2020 Sh10.4 billion was held by 106,443 loanees, a sharp rise from the Sh6.7 billion held by 68,882 loanees as of June 30, 2020, mainly attributed to retrenchment as a result of Covid-19,” said Helb chief executive Charles Ringera.

Helb matured loans stood at Sh45 billion, giving the agency a non performing ratio of 23 per cent—which is higher than the banking average of 14.1 per cent.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
PeterReborn
#2605 Posted : Tuesday, July 06, 2021 10:23:15 AM
Rank: Veteran


Joined: 1/3/2014
Posts: 1,060
https://www.businessdailyafrica....offs-salary-cuts-3462562

The Kenya Revenue Authority (KRA) has reported a 9.3 percent drop in Pay As You Earn (PAYE) tax receipts in the review period compared to a year earlier when the taxes amounted to Sh399.20 billion.

The taxman has blamed the drop from Sh399.20 billion to an estimated Sh362.08 billion on the impact of the pandemic on private sector jobs.

“The decline was driven by the reduction in employment emanating from measures taken by mainly private firms to reduce operating costs as a result of Covid-19 pandemic,” KRA Commissioner-General Githii Mburu said in a statement on full-year revenue performance.


Consistency is better than intensity
kmucheke
#2606 Posted : Thursday, July 08, 2021 8:57:55 PM
Rank: Member


Joined: 3/16/2019
Posts: 255
Quote:
Treasury sampled 18 of the largest parastatals and established that only 4 were profitable.They include Kenya Ports Authority, Kenya Pipeline Company, Kenya Airports Authority and Kenya Electricity Generating Company.

Kenya Power and Kenya Railways were observed to be highly indebted with loans, large liabilities and experiencing liquidity challenges.

The 18 parastatals have an estimated cumulative financial shortfall of about Sh70 billion annually.

Some of the measures the government has suggested to fill the Sh382 billion shortfall is conducting reforms, new concessional borrowing, deferred payments on loans, debt to equity swap and funding from the exchequer.


LINK
Ericsson
#2607 Posted : Thursday, July 08, 2021 9:29:03 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,790
Location: NAIROBI
kmucheke wrote:
Quote:
Treasury sampled 18 of the largest parastatals and established that only 4 were profitable.They include Kenya Ports Authority, Kenya Pipeline Company, Kenya Airports Authority and Kenya Electricity Generating Company.

Kenya Power and Kenya Railways were observed to be highly indebted with loans, large liabilities and experiencing liquidity challenges.

The 18 parastatals have an estimated cumulative financial shortfall of about Sh70 billion annually.

Some of the measures the government has suggested to fill the Sh382 billion shortfall is conducting reforms, new concessional borrowing, deferred payments on loans, debt to equity swap and funding from the exchequer.


LINK



Suggestions of which none will be implemented.
Ukur Yattani has less than 12 months as treasury secretary
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#2608 Posted : Friday, July 09, 2021 12:02:22 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,526
Location: Nairobi
Ericsson wrote:
kmucheke wrote:
Quote:
Treasury sampled 18 of the largest parastatals and established that only 4 were profitable.They include Kenya Ports Authority, Kenya Pipeline Company, Kenya Airports Authority and Kenya Electricity Generating Company.

Kenya Power and Kenya Railways were observed to be highly indebted with loans, large liabilities and experiencing liquidity challenges.

The 18 parastatals have an estimated cumulative financial shortfall of about Sh70 billion annually.

Some of the measures the government has suggested to fill the Sh382 billion shortfall is conducting reforms, new concessional borrowing, deferred payments on loans, debt to equity swap and funding from the exchequer.


LINK



Suggestions of which none will be implemented.
Ukur Yattani has less than 12 months as treasury secretary
Politically undesirable for the current regime to send underemployed folks home. Plus it is the season for eating and parastatals are prime dining spots.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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