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Lobby pushes for use of State bonds to clear Sh600bn bills
Kenya National Chamber of Commerce and Industry (KNCCI) President Dr Erick Rutto gives his speech during Fairtrade Global Business Summit held at Villa Rosa Kempinski, Nairobi on October 4, 2023.
Private sector lobby, Kenya National Chamber of Commerce and Industry (KNCCI) wants the State to issue a bond to clear the over Sh600 billion worth of pending bills, to speed up settlement of the debts and ease cashflows facing the traders.
KNCCI President Erick Rutto says that floating a bond offers the government a faster way of paying off contractors amid the pressure facing the Exchequer, amid mounting expenditure on payment of other critical items like foreign debt.
