FAQs

The functions of the National Treasury include:

• Overall Economic Policy Management
• Management of Public Finance
• Formulation of National Budget
• Public Debt Management
• Formulation and Maintenance of Government Accounting Standards
• Bilateral and Multi-Lateral Financial Relations
• Capital Markets Policy
• Oversight over Revenue Collection as Prescribed under all Written Laws
• Competition Policy Management
• National Pensions Policy Management and Insurance Policy and Regulation

Services provided by the Ministry include: Motor Car Loan, Access to Government Procurement Opportunities (AGPO), Registration for Persons with Disabilities, Women & Youth, IFMIS, Pension Management, and Tenders.

The formulation and preparation of the Budget involves development and submission of key documents for approval by Cabinet and Parliament. The process is guided by the budget calendar which stipulates timelines for a number of key activities to be undertaken in order to finalize the Budget and submit it for approval by 30th April of each financial Year. The budget calendar is usually contained in the Treasury circular issued in accordance to Section 36 of the Public Finance Management Act, 2012.

The Pensions Act (Cap.189), the main Act, makes provisions for the granting and regulating the payment of pensions, gratuities and other allowances in respect of the public service for officers under the Government of Kenya. Civil Servants or their dependents may be paid, on leaving the service of the Government and on fulfilling certain conditions, one or more of the following benefits:

• Commuted pension gratuity (lump sum) plus monthly pension
• Service gratuity
• Marriage gratuity
• Compassionate gratuity
• Death gratuity
• Annual allowance
• Injury pension
• Dependents’ Pension
• Widows and Children’s Pension
• Killed on Duty Pension

• Applicant’s first name and last name
• Company’s phone number
• Original scans of:
  • National ID card or passport.
  • Certificate of Incorporation or Business Registration Certificate.
  • A Partnership Deed if you are running a partnership business.
  • CR12 if you are running a Limited Company.
  • A tax compliance certificate
  • Letter from the National Construction Authority (NCA).

The key Development Partners who support strategy implementation include the World Bank, AFD, Embassy of Sweden, Embassy of Denmark (Danida) and USAID. Others include the Canadian Development International Agency (CIDA) and European Union.

All borrowings are done through the Cabinet Secretary, and are for the following purposes:

• Financing government budget deficits;
• Honoring obligations under national government guarantees;
• Refinancing and pre-financing existing debts;
• For cash management;
• To finance development projects including on-lending to approved entities;

As of the end of June 2020, Kenya’s total debt stock stood at 6.7 trillion Kenyan shillings ($62 billion), equivalent to about 66 per cent of our total national wealth, as estimated by the gross domestic product (GDP).

The National Treasury is mandated by law to:

• Strengthen financial and fiscal relations between the National Government and County Governments and encourage support for county governments in performing their functions.
• Assist county governments to develop their capacity for efficient, effective and transparent financial management.
• Prepare the annual Division of Revenue Bill and the County Allocation of Revenue Bill.