1.1: Stimulate devolved domestic prosperity

Measurement
The funding gap at the National and County level established and appropriate capital markets products and services determined.
Working Group
WG1
Implementation Progress

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; 

  • Inception Report - June 2017;
  • Phase 1 - The survey administration to State Owned Enterprises was done between 25 September 2017, and 6 October 2017;
  • Phase 2 - The county engagements were done between 5 and 20 April 2018;
  • Final Report - Submitted in December 2018.

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 

Timelines
2014-2016
 
Status
In Progress (Behind Schedule)