At last, revenue-sharing formula comes into effect
From left: Senators John Kinyua (Laikipia), Majority Whip Irungu Kang’ata (Murang’a) and Samson Cherargei (Nandi) celebrate during a Senate sitting on September 17, where they passed the County Revenue Allocation formula.
It will take effect next year and run through to the 2025/26 FY.
The Senate developed a revenue allocation ratio, which is pegged at Sh316.5 billion, and will be first used to share the Sh370 billion that the counties will receive in the next financial year.
The controversial third basis revenue-sharing formula has finally come into effect after the Senate received it yesterday from the National Assembly, which approved it last week without amendments.
The formula, which was a basis of a paralysing debate in the Senate, will take effect next year and run through to the 2025/26 financial year.
