Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Housing, sugar levies put in T-bills trigger concerns
Analysts said that by investing its tax receipts in its own issued debt or Treasury papers, the government is effectively paying itself for money it already owns—pointing to disjointed revenue and project implementation plans.
State agencies and departments are increasingly investing surplus funds in government securities, raising concerns about the absorption of billions of shillings in funds meant to support key programmes, such as affordable housing and sugar factory upgrades.
In June, the State Department for Housing and Development revealed that the government had earned Sh4.2 billion interest income from billions of shillings in housing levy collections invested in Treasury bills.
