Kenya proposes stronger oversight of public funds — Nation Kenya
In Kenya, parliamentary committees are proposing amendments to the Public Finance Management Act to strengthen oversight of special public funds and mandatory levies. The changes could grant Controller of Budget Margaret Nyakang'o the authority to approve withdrawals and demand financial reporting.
As Nation Kenya reports, Nyakang'o warned of oversight gaps that make it possible to circumvent traditional accountability mechanisms. Treasury chief John Mbadi said that due to improper management in the public sector, the country loses up to 2 billion Kenyan shillings every day.
Funds outside the IFMIS system
Auditor-General Nancy Gathungu said that more than 30 billion Kenyan shillings in county public funds could be misused. According to her, these funds operate outside the Integrated Financial Management Information System (IFMIS), which results in insufficient oversight.
More current news is available on the UA.News Telegram channel Telegram.
The National Assembly's Finance and National Planning Committee is seeking urgent legislative changes. At the same time, the Committee on Implementation of the Constitution expressed concern over 75 funds and levies which, in the opinion of its members, may create risks for proper control over public funds.
Funds and levies
Among the funds for which oversight may be strengthened, the publication names the National Infrastructure Fund. It already holds 104 billion Kenyan shillings obtained from the sale of shares in Kenya Pipeline Company.
The article also mentions the affordable housing levy. According to Nation Kenya, 65 billion Kenyan shillings have been collected from citizens' salary deductions under it for the construction of low-cost housing.
