National Treasury Cabinet Secretary John Mbadi is presenting the Sh4.82 trillion budget for the financial year 2026/27 in Parliament.
Here are highlights:
Electronic procurement
Mbadi says no public procurement will be conducted outside the Electronic Government Procurement System from July 1; Treasury to end all exemptions.
Pending bills
Treasury plans to settle Sh155.3bn in verified pending bills through direct budget allocations and securitisation over the next two years.
Bank core capital
Mbadi proposes extending by three years to December 31, 2032 the deadline for banks to meet the Sh10 billion minimum core capital requirement. Mbadi says the move will allow a better-structured approach to recapitalising the sector.
Agriculture insurance
Treasury proposes amendments to the Insurance Act to establish agricultural insurance as a standalone class of insurance business, aimed at strengthening the regulatory framework for agricultural risk management.
County requisitions and payment
Government to expand implementation of the Treasury Single Account to counties from July 1, overhauling county requisitions and payment processes.
Government to amend the Public Finance Management Act and related regulations to strengthen oversight across the public sector after recurring audit queries exposed public resources to fiscal risks and weakened service delivery, Mbadi says.
Hellen Githaiga, Kepha Muiruri, George Ngigi, Julians Amboko, Kabui Mwangi, Edna Mwenda.
