Business & Economy3 stories from 1 sources
Health Cabinet Secretary Aden Duale informed MPs that the National Health Insurance Fund (NHIF) left hospitals with Sh10 billion in debt. The Cabinet plans to prioritize settling Sh5.3 billion of these debts, focusing on claims under Sh10 million per facility. Separately, the Unclaimed Financial Assets Authority (UFAA) warned institutions of an October 31st deadline to remit an estimated Sh5 billion in unremitted assets. UFAA Chairman Njenga Kigo announced that audits will begin in November, with hefty fines threatened for non-compliance. Additionally, the government has introduced the Standards Bill, 2025 to the National Assembly’s Committee on Trade, Industry and Cooperatives. This landmark legislation aims to modernize consumer protection laws by replacing the five-decade-old Standards Act.
Health Cabinet Secretary Aden Duale informed MPs that the National Health Insurance Fund (NHIF) has left hospitals with Sh10 billion in debt, severely impacting their operations. He stated that the Cabinet plans to prioritize settling smaller claims, specifically Sh5.3 billion, which represents debts under Sh10 million per facility.
Summary & Analysis
The Unclaimed Financial Assets Authority (UFAA) has issued a stern warning to institutions regarding a looming October 31st deadline for remitting unclaimed funds, threatening hefty fines and audit fees for non-compliance. Chairman Njenga Kigo announced audits will commence in November to target companies, insurers, and universities withholding an estimated Sh5 billion in unremitted assets.
Summary & Analysis
Kenya's government has introduced the proposed Standards Bill, 2025 to the National Assembly’s Committee on Trade, Industry and Cooperatives, aiming to modernize the nation's quality and consumer protection laws. This landmark legislation would replace the five-decade-old Standards Act.
Summary & Analysis
