Uhuru orders Treasury to set up coronavirus Emergency Fund
President Uhuru Kenyatta has directed the National Treasury to set up coronavirus Emergency Response Fund.
The main aim of the Fund will be to mobilise resources for an emergency response towards containing the spread, effects, and impact of the Covid-19 pandemic.
“The seed capital of the Fund shall be drawn from the Exchequer, including the voluntary salary-cuts undertaken by the senior ranks of the Executive, Judiciary, Legislature, and County Governments. The Exchequer contributions shall be supplemented by donations by Kenyan individuals and corporate entities, grants from our development partners and multinational institutions, and such other gifts, subscriptions and contributions as the Fund may receive from time to time,” the President said in a statement.
President Kenyatta further directed that the Fund would be governed by a board chaired by KBL managing director Jane Karuku, with Interior Cabinet Secretary Dr Fred Matiang’i and Council of Governor’s Chairman Wycliffe Oparanya as the joint representatives of the Government of the Republic of Kenya.
Members will include Michael Joseph (Safaricom board chairman) and James Mwangi (Equity Bank CEO), Dr. Narenda Raval, Joshua Oigara (KCB CEO), Jeremy Awori (ABSA CEO), Wachira Waruru (Royal Media Services MD), Mohammed Hersi, Ms. Phyllis Wakiaga, and Kennedy W. Kihara.
“The Government of Kenya calls upon all Kenyans, Corporate Entities both domestic and multinational, as well as our international development partners to support the national initiative. By doing so, Kenya will be better able to successfully contain the spread, effects, and impact of the Covid-19 Pandemic on our citizens, and particularly the most vulnerable members of society,” he said.