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    Kenya’s Central Bank Pays KSh5.5bn Dividend to State

    MuindiBy Muindi2021-09-28No Comments1 Min Read
    The Central Bank of Kenya (CBK) collected KSh 27,428.16 Million from the re-opened five-year (FXD1/2020/5) Treasury Bond Issue representing a 94.6 per cent subscription rate.

    The Central Bank of Kenya (CBK) transferred KSh 5.5 Billion to the Government’s Consolidated Fund as a distribution from its General Reserve Fund (GRF).

    The National Treasury maintains the Consolidated Fund in an account known as the National Exchequer Account, kept at the Central Bank of Kenya

    With an exceptional distribution of KSh 5 Billion on February 17th, 2021, the total distribution from the monetary authority’s General Reserve Fund 2020/21 financial accounts now amounts to KSh 10.5 Billion.

    “Having weighed the various factors as stipulated by law, the CBK Board authorised the additional transfer of Sh5.5 billion to the Government Consolidated Fund from the CBK’s General Reserve Fund,” said the CBK in a statement issued Monday. 

    What is a Consolidated Fund?

    Article 206 of the Constitution establishes the Consolidated Fund in Kenya. This fund acts as the main bank account for the national government. The Public Finance Management (PFM) Act expounds on the Consolidated Fund.

    Treasury Seeks Ksh.60 Bn from October Bonds Sale

    Central Bank Central Bank of Kenya
    Muindi
    Muindi

    Experience working on communication and marketing departments and in the broadcast industry. Interested in sustainable development and international relations issues.

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