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The figure, an increase from Sh393.6 billion in 2022, represents 3.3% of the national Gross Domestic Product and has raised concerns about the sustainability of key government programmes.
The SRC has noted that the national government’s personnel emoluments are within the legal ceiling.
Ndonga is being celebrated for her unwavering commitment to excellence and her pivotal role in shaping the airline’s operations.
The challenges are compounded by inflation, which has further eroded their earnings.
The report highlights that counterfeit goods are finding their way into Kenya, mainly from China, India, Turkey, and Vietnam.
The feature is designed to meet the needs of users in places where listening is not possible or desirable.
The decision comes after Kenya exited the 9th review of its IMF program.
The new measure is aimed at improving the welfare of retired workers.
The NSSF has steadily increased its contribution rates since the passage of the NSSF Act of 2013.
The Cabinet, meeting under the leadership of President William Ruto, backed amendments to the Capital Markets Act that remove restrictions on shareholder ownership in regulated institutions.
The revised budget will be presented to Parliament once changes are finalized.
The move highlights an increasing appetite by foreign firms to invest in Kenya’s financial services sector.