The National Treasury of Kenya has released Kshs 40 billion in funds to various government departments, ensuring continued support for education, infrastructure, agriculture, and investment promotion as part of the 2024 budgetary allocations.
Major Allocations to Education
A significant portion of the funds has been directed towards the State Department for Basic Education, reflecting the government’s commitment to fostering accessible and quality education. The breakdown is as follows:
- Kshs 1.6 billion has been allocated to support Free Primary Education for the third term. This funding is crucial in maintaining the momentum of universal primary education, ensuring that all children have access to schooling.
- Kshs 14.1 billion has been set aside for Free Day Secondary Education for the third term. This allocation aims to alleviate the financial burden on parents and guardians, promoting higher enrollment and retention rates in secondary schools.
- Kshs 6.1 billion is earmarked for Junior Secondary Education for the third term. This fund supports the ongoing reforms in the education sector, particularly the Competency-Based Curriculum (CBC), which is critical for shaping a more skilled and adaptable workforce.
Higher Education Support
The State Department for Higher Education and Research has also received substantial funding to bolster tertiary education:
- Kshs 5.1 billion is allocated to the Higher Education Loans Board (HELB) to provide financial assistance to students pursuing higher education. This will enable more students to access and complete their tertiary education, thus contributing to a more educated and skilled populace.
- Kshs 2.8 billion has been directed to the Universities Fund Board to support the operations and development of public universities, ensuring that these institutions continue to offer quality education and research opportunities.
Infrastructure and Agriculture
Infrastructure development and agricultural support have also been prioritized:
- Kshs 2 billion has been allocated to the State Department for Roads for transfer to Semi-Autonomous Government Agencies (SAGAs). This funding will support road maintenance and development projects, which are essential for economic growth and connectivity.
- Kshs 2.6 billion has been transferred to the National Irrigation Authority (NIA) by the State Department for Irrigation. This fund is crucial for enhancing irrigation projects that are vital for food security and sustainable agriculture, particularly in arid and semi-arid regions.
- Kshs 2 billion has been allocated to the National Cereals and Produce Board (NCPB) for settling pending bills related to the fertilizer program for the short rains and long rains during the 2023/2024 financial year. This allocation ensures that farmers receive the necessary inputs for crop production, thereby supporting the agricultural sector.
Support for Industry and Investment
Several funds have been allocated to promote industry and investment:
- Kshs 800 million has been designated for the New Kenya Cooperative Creameries (KCC) Ltd by the State Department for Cooperatives. This allocation will enhance the operations of KCC, a key player in the dairy industry.
- Kshs 500 million has been allocated to the Financial Inclusion Fund, commonly known as the Hustler Fund, under Enterprise Development. This fund aims to support small and medium-sized enterprises (SMEs), driving economic growth and job creation.
- Kshs 1 billion has been allocated by the State Department for Industry for County Aggregation and Industrial Parks (CAIPS). This funding will support the development of industrial parks across counties, fostering local manufacturing and economic diversification.
- Kshs 600 million has been allocated to the Export Processing Zones Authority by the State Department for Investment Promotion. This funding will enhance Kenya’s capacity to attract foreign investment and boost exports.
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