This archive report was first published on 20 November 2019.
On November 20, 2019, the Treasury received a significant boost in its coffers, with state corporations remitting a total of KSh66 billion.
This amount exceeds the Treasury's target of KSh78 billion, set to bridge the funds gap.
According to Acting CS Ukur Yatani, speaking to Reuters, the funds were raised from retained earnings and dividends.
Yatani clarified that the monies were surplus funds, and operational accounts and other matters had not been touched.
He noted that state companies had been delaying the remittance of dividends at the end of every financial year.
Yatani also refuted claims that the move to take surplus cash would starve the banking sector of liquidity.
Related articles: State Corporation to Remit Funds to Treasury and KPA Remits 18.7 Billion to Treasury in Special Dividends
