Kenya's President Ruto calls for financial discipline in state corporations, reducing budgets by 30% and urging profitable entities to remit 80% of income to the Treasury.

Kenya's President Ruto urges financial discipline in state corporations, emphasizing the need for stringent financial management. He warns loss-making parastatals and urges profitable entities to curb wasteful expenditure, channel profits back to the Treasury, and operate within their means. President Ruto also directs parastatal heads to slash their approved budgets by 30%, while profitable state corporations are ordered to remit 80% of their net income to the exchequer.

March 26, 2024
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