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Ruto defends Sh5 trillion plan, vows to lift millions out of poverty
News

Ruto defends Sh5 trillion plan, vows to lift millions out of poverty

Ruto said the funds would lay a strong base for infrastructure and resource development, with Turkana expected to play a central role. He announced that the government had approved the field development plan for oil discovered in the county and committed to starting extraction within the next year as part of resource mobilisation for the Sovereign Wealth Fund.

Cabinet Secretary for Roads and Transport Davis Chirchir, Kenya Railways Managing Director Philip Mainga and Yu Xiao Dong, representing China Communications Construction Company (CCCC), during the signing of an addendum to the commercial contract for the construction of the Naivasha–Kisumu Standard Gauge Railway (SGR) Phase 2B on December 16, 2025/HANDOUT
News

CS Chirchir oversees signing of addendum for Naivasha–Kisumu SGR phase 2B

The addendum was signed by Kenya Railways Managing Director Philip Mainga and Yu Xiao Dong, representing China Communications Construction Company (CCCC), the contractor for the project.

Treasury drops public service layoffs, focuses on payroll reform
Business

Treasury drops public service layoffs, focuses on payroll reform

During last year’s national wage bill conference, officials had warned of mass layoffs targeting support staff, casual workers, and employees with fake academic certificates. At the time, it was noted that support staff made up about two-thirds of public service employees, despite a recommended ratio of 70 percent technical staff and 30 percent support staff. This meant that roughly 702,950 of the 1.05 million public servants were support staff, more than double the ideal number.

Insurers struggle to meet IFRS 17 deadlines amid system and data gaps
Business

Insurers struggle to meet IFRS 17 deadlines amid system and data gaps

The Association of Kenya Insurers (AKI) says the standard requires insurers to provide highly detailed reporting, which many companies are ill-equipped to handle. According to the latest AKI report, historical records were inconsistent, missing, or dispersed across legacy IT systems incapable of supporting the new accounting requirements.

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