Henry Rotich

All parliamentary appearances

Entries 51 to 60 of 251.

• 13 Jun 2019 in National Assembly: You will have an opportunity to look at that. Although currently there is low uptake of electric powered motor vehicles in the country, green energy technology is being embraced in many countries due to environmental benefits and renewability. Kenya too needs to promote the use of this clean type of energy in line with the Sustainable Development Goal 7 which can be achieved through lowering the cost of these vehicles through tax incentives. This will encourage uptake of these vehicles as well as encourage investment in this area of technology. Further, it will support the policy on green energy thereby ... view
• 13 Jun 2019 in National Assembly: The Excise Duty on a packet of 20 cigarettes will increase by Kshs8 to Kshs61 per packet. Hon. Speaker, the Government introduced the Growth and Enterprise Market Segment (GEMS) with favourable listing conditions for the SMEs to raise finance from the capital markets for growth. However, the uptake has not been good in view of the potential back taxes The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 13 Jun 2019 in National Assembly: that the enterprises may be facing. In this regard, I propose to introduce an amnesty on the tax penalties and interest on any outstanding tax for two years prior to the listing for SMEs that list under the GEMS program to encourage them to list and clear their tax records. The principal taxes shall however be paid in full. The Government is keen to position Kenya as a prime financial centre in East and Central Africa. The first step to achieve this is to make our financial services accessible to both Kenyans and our visitors. Currently, the law requires one ... view
• 13 Jun 2019 in National Assembly: amend the Insurance (Motor Vehicle Third Party Risks) (Certificate of Insurance) Rules to require all passenger carrying boda-bodas and tuk-tuks to have insurance cover for passengers and pedestrians. The Retirement Benefits Schemes that invest in guaranteed funds are subjected to unfavourable terms of exit. In particular, the schemes are required to withdraw funds in instalments spread over three years otherwise they suffer a charge of up to 25 per cent of the fund value. This exposes members to low returns on the fund balance due to an extended transfer period. Therefore, I have proposed to amend the Retirement Benefits Act ... view
• 13 Jun 2019 in National Assembly: The aim of the interest rate capping introduced in September 2016 was to reduce the cost of borrowing, increase access to credit and higher return on savings. It is now going to three years and the law has had the opposite effect with MSMEs starved of credit and the loan books of small banks becoming smaller. Hon. Speaker, you will recall in the Finance Bill, 2018, I proposed to amend the Banking (Amendment) Act, 2016 by repealing Section 33B of the Act. The proposal was motivated by the need to enhance access to credit and minimise the adverse impact of ... view
• 13 Jun 2019 in National Assembly: private sector and in particular to the MSMEs. Further, we will be launching an “SME Credit Guarantee Scheme” in a few weeks’ time to deepen access to credit by SMEs without being subjected to complex application procedures and collateral requirements. This, together with Biashara Kenya Fund and the SME Fund, will address the very reason interest rate caps were introduced. The aforementioned reforms will not only address shortcomings in the credit market but also catalyse provision of credit to support the Government’s Big Four Agenda. The Budget is also about insulating ourselves against future risks and sustaining our long- term ... view
• 13 Jun 2019 in National Assembly: These projects are expected to commence soon and will significantly reduce traffic in Nairobi City and on the Nairobi-Nakuru highway. As the host Nation of the United Nations Environment Programme (UNEP), Kenya remains a global leader in environmental conservation and sustainable development. We have continued to champion the green economy by spurring industrial growth in a manner that protects the environment from the effects of climate change. We have also committed to expand our forest cover from 7.2 per cent to the 10 per cent target. Building on our commitment to foster a sustainable environment, we have issued another ban ... view
• 13 Jun 2019 in National Assembly: Conference on Trade and Development (UNCTAD) Business-to-Consumer E-commerce Index of 2018. In May 2019, His Excellency the President launched the Kenya’s Digital Economy Blueprint for Africa in Kigali, Rwanda. The blueprint serves as one of Kenya’s contributions to SMART Africa Alliance in its role as the champion for Digital Economy within the Alliance and proponent of an African-wide digital economy. The adoption of the Digital Economy framework offers us an opportunity to leapfrog and join nations in the First World and actively contribute to the global economy. The Government will continue with its initiatives to recapitalise and restructure the banks ... view
• 13 Jun 2019 in National Assembly: At this point, I wish to thank His Excellency the President and His Excellency the Deputy President for their leadership during this Budget preparation process. view
• 13 Jun 2019 in National Assembly: Hon. Speaker, allow me to thank you most profoundly for according me this opportunity to present to this august House the highlights for the Financial Year 2019/2020 Budget and also for the support the House has accorded the National Treasury in the Budget formulation process. I am also greatly indebted to my Cabinet colleagues and the Principal Secretaries for their support and cooperation throughout the process of preparing this Budget. Many thanks to the Budget and Appropriation Committee, led by the Chairman, Hon. Kimani Ichung’wah; the Finance and Planning Committee, led by its Chairman, Hon. Joseph Limo, and the other ... view