Home NEWS County News Process to transfer multi-billion shilling assets to County governments underway

Process to transfer multi-billion shilling assets to County governments underway

Counties are set to assume ownership of multi-billion shillings assets from the defunct local authorities allaying fears of grabbing and embezzlement during the transition period.

The transfer of ownership of the multi-billion shillings assets represents a significant milestone in devolution, aimed at empowering counties to undertake development projects.

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Devolution PS Teresia Mbaika underscored the importance of finalizing the valuation and transfer of assets to secure ownership rights for the devolved units amid concerns over potential grabbing and embezzlement during and after the transition period.

Speaking in Mombasa while launching the exercises, Mbaika said concerted efforts through a multi-agency Technical Task Team will ensure transparency and accountability throughout the process.

The valuation exercise, covering movable assets, land, and buildings, is being conducted in phases across 30 counties, aligning with the National Treasury Guidelines on Assets and Liabilities Management as espoused by the Public Finance Management Act while the Intergovernmental Technical Relations Committee is actively working on modalities to effect the transfer to respective counties.

Mombasa Deputy Governor Francis Thoya, who was present during the launch, said the transfer of ownership has been long overdue adding that the transfer of assets holds the promise of enhancing development opportunities at the county level.

He said it was imperative to address concerns regarding potential grabbing and embezzlement during the transition period where individuals could take advantage to grab prime assets.

Dickson Wekesa
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