Public Finance in Kenya's History
Contents |
Introduction |
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History |
Since man began to live in communities, to trade and to expand his world, he began to develop the structures that evolved to form today's ideas that define Public Finance. Contrary to popular belief, the people of Africa had well-organised structures to allocate and manage public wealth. These structures were anchored on the family and clan units which were the foundations of the communities. |
| Public Finance under the colonial masters was modeled on the capitalist and exploitative economic and social system of the time to benefit the master and under-develop the natives. | |
| Once Kenya gained political independence from Britain, Public Finance soon became concentrated and controlled in the hands of the African political elite leading to corruption, instability, and marginalisation. | |
| The promises of the Constitution of Kenya 2010 are to devolve Public Finance to the grassroots, by allowing for localised budget-planning and prioritisation, predictable allocation, professional administration and audit. |
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References:
1. Constitution of Kenya, 2010. National Council for Law Reporting. The Attorney General.
2. Njeru Kirira (2011). "Public Finance under Kenya's new Constitution". Constitutional Working Paper Series No. 5. Society for International Development, SID.
3. Ethics and Anti-Corruption Act, 2011. National Council for Law Reporting. The Attorney General.
