1.1: Stimulate devolved domestic prosperity
In May 2017, the Authority engaged a consultant through the Financial Sector Support Programme (FSSP) to undertake the study.
The Key activities are as follows;
The Working Group reviewed the legal report, examining the relevant laws and regulations that would otherwise impede the access of capital market funding by County Governments and State-Owned Enterprises, that was submitted by the consultant in February 2018.
The consultant submitted a final draft report in December 2018 that was exposed to a stakeholder forum for a discussion on the key policy issues emanating from the recommendations in the report. The report was then submitted to the National Treasury for comments. The Authority incorporated these comments and resubmitted the report the National Treasury for concurrence ahead of the National Validation Workshop anticipated to be held within 2019/20 financial year.In line with the same, a draft interagency position paper on the financing of cities in Kenya has been developed borrowing from some of the recommendations of the Opportunities for access to Capital Markets Financing for National and County Governments in Kenya study