In the past month it has been reported that the Co-Operative Bank of Kenya has posted KES 8.91b pre-tax profit. We ask; who is collecting the dividends? We publish for the first time, a report which has been circulating for quite sometime now in Kenyan newsrooms. Oddly, or maybe not so odd – this is Kenya after all, publishing attempts always gets killed; i.e.the public never gets to know about these serious matters. We have decided that there are serious issues of public concern at hand. They must be published to elicit appropriate management response. In the public interest, this is an investigation worth commencing. We present for the first time an analysis of the Cooperative Bank of Kenya's ownership structure which indicates widespread insider dealing, at the expense of the ownership and, to the advantage of senior management and the Bank's Board of Directors. Here is the story:
Links to the Hospitality and Sitting Allowances for the JSC
The Kenyan Auditor General has just published his report on the Government’s accounts for the year ending 30th June 2012. He reports to Parliament that “33% of the total actual expenditure for 2011/2012 of Kshs.920,024,249,603 or Kshs.303,608,023,369 can be regarded as having not been properly accounted for.”
We thought it necessary to estimate the opportunity cost of such huge losses of public finances. So here are some things the KES 303 billion missing could do for Kenyans.
KES 303 Billion would:-
1. Fund the Basic Education Programme for 10 years at the current Kenyan Government recurrent spending on basic education of Ksh 33 billion per annum (see appendix 1) also see: http://budget.marsgroupkenya.org/national/programmes/34/#.UlahHFNknk0
All Form 34 documents audited are in the public domain and were released by the Independent Electoral and Boundaries Commission (IEBC) on its official website in April 2013. The IEBC told the Supreme Court that ALL the Form 34’s from all polling streams were available on its website. An Audit of the Form 34’s on the IEBC website reveals that 2,585 forms are missing.
The results as published in the available Form 34’s were recorded in the Audit as follows;
- Total number of registered voters for the polling station.
- Number of spoilt ballot papers.
- Total number of votes cast.
- Number of rejected votes.
- Number of disputed votes.
- Number of rejection objected to votes.
- Total number of valid votes cast.
- The results for valid votes cast in favour of each candidate.
Overview of the Proposed Tax Measures
Facilitating Infrastructure Development for a Competitive Economy
- Exempt import duty on importations of items used to facilitate railway operations in order to support the expansion and development of the railway network in the region.
- Amendment to the Customs and Excise Act to introduce a Railway Development Levy of 1.5 percent on all imported goods, to mobilize additional Ksh 15 billion to fund construction of a standard gauge railway line from Mombasa to Kisumu.
- Exemption of plastic bag bio-gas digesters.
Encouraging growth of Industries for Faster Growth and Employment – increase import duty
- On welding electrodes from 10% to 25%.
- Millstones and grindstones from 0% to 25%.
- Plastic tubes for packing of toothpaste, cosmetics and similar products from 10% to 25%.
STATEMENT DELIVERED TO THE BUDGET AND APPROPRIATION COMMITTEE OF THE NATIONAL ASSEMBLY ON 13THJUNE, 2013, BY MR. HENRY K. ROTICH, CABINET SECRETARY FOR THE NATIONAL TREASURY, REPUBLIC OF KENYA, WHEN HIGHLIGHTING THE BUDGET POLICY AND REVENUE RAISING MEASURES FOR FISCAL YEAR 2013/2014
1ST JULY, 2013 TO 30TH JUNE, 2014
1. Hon Members, it is a great honour and privilege to present the highlights of the first budget of the Administration of H.E the President, Hon Uhuru Kenyatta, in accordance with section 40 (1) and (2) of the Public Finance Management Act, 2012, and Standing Order No.241 of the National Assembly.
MARS GROUP KENYA OPENS ACCESS TO KENYA BUDGET 2013-2014 PORTAL
The Estimates of Expenditure & revenue for the Government of Kenya for the FY2013/14 can be read at http://budget.marsgroupkenya.org/nationalbudget/programmes/expenditure
Also available are the Budget estimates for the Judiciary and Parliament. County Budget estimates can be read online.
Mars Group Kenya
Watching Out for you
MARS GROUP KENYA OPENS ACCESS TO 2013 ELECTION WEB PORTAL
KNOW WHO YOU ARE VOTING FOR, BEFORE YOU CAST YOUR VOTE!
Mars Group Kenya has officially opened public access to our Kenya Elections 2013 web portal. It is part of our Leadership, Governance & Accountability Portal and can be accessed via http://election2013.marsgroupkenya.org or directly from our home page www.marsgroupkenya.org
Search for information:
Do you know the candidates offering themselves at the ballot? What are my options? Who is running for MCA? Who is running for MP? Who is running for Women rep? Who is running for Governor? Who is running for Senator? Who is running for President? The web portal allows users to search by county, constituency and by ward for a list of all candidates nominated by the Independent Boundaries & Elections Commission (IEBC).
The following article was deleted hours after it was uploaded to the Standard Media Group website. It contains allegations of a grave nature regarding illegal payments by candidates to electors, and also intimidation of a member of the press who was present. The Standard Media Group needs to explain why the story was uploaded and pulled down so dramatically. The story was briefly available online at http://www.standardmedia.co.ke/m/story.php?articleID=2000076724 but the link has been disabled and now takes readers to the Standard Media Group's homepage. We wonder what's going on.
Mars Group Kenya . Org 6.02.2013
Waititu faces voters’ wrath in bribe attempt
The Standard 6th Feb 2013
By Geoffrey Mosoku and Cyrus Ombati
A new Parliamentary Committee Report has recommended the institution of an independent forensic audit into Kenya's revenue accounts.
The report arises from the failure in Parliament, last May, of the Finance Minister to explain massive discrepancies in the revenue accounts for the election year 2007. The Speaker of Parliament ordered the establishment of a Joint 3 Committee Investigation into the Status of the Revenue Accounts of the Government of Kenya. The Committee, led by the Budget Committee, tabled its report on 19th September 2012; and MPs are due to debate its findings during the next Parliamentary session later this month.