The National Treasury has approved the valuation of all assets that Kenya owns as part of an on-going process to shift the government’s operations to a new financial reporting plan by 2027.
Kenya has set a three-year (2024/2025 - 2026/2027) roadmap towards fully shifting its financial transactions to an accrual basis of accounting from the current cash-based system, with an aim of consolidating the State’s total assets and liabilities onto a single balance sheet that provides the government’s true financial position and help save on exorbitant cost of foreign loans.
