{"id":79252,"date":"2023-01-04T15:46:08","date_gmt":"2023-01-04T15:46:08","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report"},"modified":"2023-01-04T16:13:55","modified_gmt":"2023-01-04T16:13:55","slug":"east-africa-community-in-sh312-million-debt-report","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report","title":{"rendered":"East Africa Community in Sh312 million debt\u2014 report"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake of non-contribution by the member states.<\/p>\n

A report by the East Africa Legislative Assembly on its scrutiny of the audit report by the audit commission reveals that the community borrowed from its General Reserve Fund.<\/p>\n

\u201cA total of USD 2.59 million (Sh311.58 million) was borrowed by EAC organs and institutions from the general reserve fund, to bridge the gap caused by the delayed and non-disbursement of the contributions by the partner states,\u201d the report states.<\/p>\n

The funds, the report adds, had not been refunded by the time of audit in June 2021, revealing the deep financial crisis that has hit the community.<\/p>\n

EAC secretariat borrowed Sh32.40 million, East Africa Court of Justice took Sh18.04 million and EALA borrowed Sh261.14 million.<\/p>\n

\u201cThis contravenes the directive 06 of the 41st extra ordinary meeting of the council of ministers and provisions of EAC financial rules and regulations,\u201d the report says.<\/p>\n

The EAC mainly relies on contributions by the seven members to fund it operations.<\/p>\n

EAC member states include Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and Democratic Republic of Congo.<\/p>\n

But the report by the EALA\u2019s Accounts Committee shows most states either not contributing or making partial contributions, forcing the EAC and its organ to borrow to bridge budget deficit.<\/p>\n

The member states have failed to remit Sh9.81 billion in the last five years.<\/p>\n

\u201cThis means that the EAC cannot properly plan and implement its activities, which may negatively affect delivery of its mandate,\u201d the report reads.<\/p>\n

The report shows that in 2015-16 financial year, some Sh1.07 billion ($8.98 million) were not remitted to the community by the member states.<\/p>\n

In 2016-17, the countries did not submit Sh942.10 million while in 2017-18, Sh2.21 billion was not remitted.<\/p>\n

In 2018-19, the outstanding remittances shot to Sh3.55 billion while in 2019-20, some Sh1.83 billion was not submitted.<\/p>\n

\u201cIt was noted that the contributions paid have been diminishing leading to an increase in contributions outstanding from $8.88 million in 2015-16 to $15.18 million in 2019-2020,\u201d the EALA MPs noted in the report.<\/p>\n

The report further reveals that some Sh860.55 million received by the community as arrears from partner states were not transferred to the General Reserved Fund as required by the regulations.<\/p>\n

\u201cThe management explained that at the time, EAC organs and institutions were experiencing liquidity problems,\u201d the report states.<\/p>\n

\u201cThus, they used the amount to settle current obligations with persons in the service to the community (staff) as well as providers of goods and services.\u201d<\/p>\n

Further, the report reveals that many bills passed in the EALA are not being assented to by the head of states, thus hindering the integration of the community.<\/p>\n

Some 21 bills, passed as far back as 2012, have not been assented to.<\/p>\n

\u201cThe committees observed that this tantamount to injustice. Delayed assent to EAL laws hinders the community\u2019s efforts to fully attain the objective for which it was established,\u201d the report says.<\/p>\n

And as the heads of states delay to sign the bill, several other bills are pending in the Assembly.<\/p>\n

For instance, the EALA passed only one bill in the 2020-21 financial year.<\/p>\n

\u201cThe committee recommends to the Assembly to ensure that it understudies factors that have led to the delay in passing the bills and address them,\u201d the report recommends.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake of non-contribution by the member states. A report by the East Africa Legislative Assembly on its scrutiny of the audit report by the audit commission reveals that the community borrowed from […]<\/p>\n","protected":false},"author":84,"featured_media":79251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[6857,7003,544],"class_list":["post-79252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nEast Africa Community in Sh312 million debt\u2014 report - kenya<\/title>\n<meta name=\"description\" content=\"Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake o ...Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"East Africa Community in Sh312 million debt\u2014 report\" \/>\n<meta property=\"og:description\" content=\"Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake o ...Cash strapped East Africa Community is struggling to clear a Sh311.58 million debt as crisis hits the bloc in the wake o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-04T15:46:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-04T16:13:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1672834609.36.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"East Africa Community in Sh312 million debt\u2014 report\",\"datePublished\":\"2023-01-04T15:46:08+00:00\",\"dateModified\":\"2023-01-04T16:13:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\"},\"wordCount\":577,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/01\/postQueueImg_1672834609.36.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/east-africa-community-in-sh312-million-debt-report\",\"name\":\"East Africa Community in Sh312 million debt\u2014 report - 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