Ministry of Finance And Economic Planning

To be accountable to the public in providing efficient planning and financial services with the aim of promoting growth, development and prosperity to realize the full potential of Turkana County’s economy.

To promote economic development, good governance, social progress and rising living standards through accountable, economic, efficient, equitable and sustainable management of Turkana County’s public finances in order to advance economic growth, broad-based empowerment, progressive realization of human rights and the elimination of poverty.

The department commits itself to the following values (PIECES):

• Professional integrity, transparency and accountability
• Innovation, learning and application of best practices
• Ethical standards in customer service and employees welfare
• Commitment to customer services and programme results and teamwork
• Effective, efficient and economic utilisation of resources
• Strategic design, planning, implementation, monitoring and evaluation of programmes

Finance and Economic Planning

Finance and Economic Planning is mandated to facilitate and coordinate revenue collection, budgeting and economic planning and to provide leadership in the implementation of procurement and accounting policies, procedures and regulations. The department’s functions are:

1. Leadership in coordination of County development planning and budgeting processes
2. Management and administration and of County revenue collection
3. Management and administration of County Public Fund Accounts
4. Internal and external resource mobilisation
5. Coordination and preparation of planning components i.e. Annual Development Plans (ADPs), Medium Term Expenditure Framework (MTEF) and County Fiscal Strategic Paper (CFSP)
6. Implementation and adherence to common accounting procedures and other internal control systems that guide, facilitate and enhance payment and surrenders
7. Coordination of County Government finance and economic policy management
8. Monitoring and Evaluation of impact, economic trends and policy reviews
9. Ensure adherence to procurement procedures, guidelines and regulations
10. Leadership in the County Monitoring and Evaluation (M&E) processes, consolidation of quarterly and annual performance progress reports (financial and non-financial)
11. Partner, investor and donor engagement on matters related to finance and economic planning

 Financial Infrastructure

The financial sector in Turkana County is attracting the establishment of branches for major commercial institutions within Lodwar town (county headquarters); namely: Equity Bank, Kenya Commercial Bank (oldest branch), National Bank and Kenya Women Finance Trust (KWFT). Insurance Companies (Britam, Jubilee, CIC) have agents; also based in Lodwar town.

Tax Incentives/Tax Holiday

• The Income Tax laws have given very attractive incentives to the investors.
• While the Investment policy and regulation is being drafted, investors will continue enjoying the 150% Investment Deduction Allowance in the 1st year of operation; applicable to investors outside Nairobi. This is a major boost to the investor as the investment is paid in full within the 1st year of operation.
• Turkana County becomes very attractive because of its proximity to three countries (South Sudan, Ethiopia and Uganda) and three Counties (Marsabit, West Pokot and Baringo). Additionally, Turkana County enjoys the presence of mineral deposits and water aquifers, and tourist attraction sites worth for investment.

Private Public Partnerships (PPPs)

Private Public Partnerships (PPPs) Ensure transparent dealings that promote integrity and accountability with our Private Partners and enter into firm and enforceable agreements.

Accounting and Auditing Standards

• We are committed to strict adherence to acceptable International Public Sector Accounting Standards (IPSAS) for public funds.
• We shall carry out regular expenditure reviews and special audits across departments to ensure adherence to internal control systems.
• We shall ensure up to date preparation of annual accounts and have them audited in timely manner.
• We shall strictly observe the requirements of Public Finance Management Act, 2012, Public Finance Management Act (County Governments) Regulation, 2015, Public Procurement and Asset Disposal Act, 2015 and Government Financial Regulations.

Licensing

 In conjunction with the Ministry of Tourism, Trade and Industrialization, introduce effective and efficient systems of issuance of trade licenses across the County without necessarily visiting the headquarters in Lodwar Town.

• Enhance revenue automation and administration.