“Indeed, government-owned financial resources used to lie idle for extended periods in numerous bank accounts held by some spending units while the National Treasury continued to borrow – most likely the same money – to provide to the spending units ready to apply the resources,” he said.
With the Treasury Single Account in place, payments to suppliers will now be expedited since the National Treasury will have a better view of its overall cash position.
President Kenyatta disclosed that the National Treasury is also putting up a government digital payments portal that will enable Kenyans to make payments to the government electronically instead of using cash.
He said the National Treasury is expected to ensure that the Integrated Financial Management Information System and the government digital payments portal are running at all times without disruption.
Deputy President Ruto said the e-procurement system is in tandem with the Uwazi (transparency) policy – one of the keys tenets of the Jubilee manifesto, saying it will eliminate middlemen and brokers who used exploit the government.