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Financial Inclusivity Key in Kenya’s Post-Covid Economic Recovery – Experts

NAIROBI, Kenya, June 8- The government should adapt financial inclusivity when it comes to post-COVID-19 economic stimulus program for the next financial year.

This is according to Churchill Ogutu Head of Research Genghis Capital who says the move will be paramount, at a time when use of cashless systems has continued to be the norm since the outbreak of the pandemic.

“The government can also opt to look at these other options such as mobile money services,” said Ogutu.

Under the budget estimates for the 2021/2022 financial year, Sh26.6 billion has been allocated towards post-COVID-19 economic stimulus program.

Speaking on matters on how the mobile telecommunications sub sector can facilitate business, Ogutu adds that the government is still waiting for the industry to mature in order to introduce other taxation measures to the sector.

Chief Economist Mentoria Economics Ken Gichinga however proposes partnerships between telecommunication companies and programs such as Kazi Mtaani to further enhance financial inclusivity.

“What telecommunication companies can do in the new financial year is partner with the government on the Kazi Mtaani program which employs thousands of youths across the country,” Gichinga said.

The National Assembly also resumed its sittings on June 8, 2021 afternoon after a month-long recess.

Parliamentarians used the recess to ensure that public participation on budget and departmental committees which were conducted virtually took place during the month of May.

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Top of the agenda as the MPs resumed business was the approval of the Sh3.6 trillion shilling Budget estimates for the 2021/2022 financial year whose highlights which will be presented by National Treasury Cabinet Secretary Ukur Yatani on June 12, 2021.

 

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