Number of the Week (26,777): Proposed First Term Fees for Public Secondary Schools in Kenya
Number of the Week (26,777): Proposed First Term Fees for Public Secondary Schools in Kenya
| Post date: Wed, Jan 6, 2016 | | Category: General | |
Education is a fundamental human right guaranteed by the Constitution of Kenya under Article 43 (1) (f) and Article 53 (1) (b); and the various international conventions such as the International Convention on Economic, Social and Cultural Rights which Kenya is party to. Education contributes immensely to the general economic development in terms of bringing forth innovative ways of doing things and contribution of new technologies that drive economic growth. But is Kenyan education affordable? There have been concerns by parents associations and the general public regarding the escalation of school fees by some schools[1]. It has been observed that various schools are charging fees as high as Ksh 100,000 which violates the Fees Guidelines[2] as directed by the government and was to be distributed as illustrated below. The directive was to take effect from January 2015.
As illustrated in the chart above, the maximum cost for special needs secondary schools is Ksh 69,810, while that of boarding schools stands at Ksh.66,424 and of day schooling is Ksh. 22,244.
With the government’s subsidy of Ksh.12, 870 for boarding and day schools and Ksh.32, 600 for special needs schools, the maximum payable fees by parents ought to be Ksh. 9,374 for day schools, Ksh.53, 553 for boarding schools and Ksh.37,210 for special needs schools. The government’s subsidy reduces the school fees by 58% for day schools, 19% for boarding schools and 47% for special needs schools. In addition, it is provided that the government will meet the full cost of examination for KCSE.
Number of the Week: Ksh 26,777
The government proposes schools to spread these fees into the three school terms at the ratio of 50:30:20.
This implies that first terms fees that ought to be paid by the parents should be Ksh 18,605 for Special needs Schools, Ksh 26,777 for boarding schools and Ksh 4,687 for Day schools.
More Number of the Week
Most people in Kenyan prisons serve shorter sentences
83% are imprisoned for less than 2 years, including those held for less than 1 month. 16.3% of prisoners are convicted for 2 years or more, with 0.5% sentenced to life imprisonment and 0.2% added to the prison population. The Number of the Week is 83%, the share of prisoners convicted for less than two […]
Kenya’s comparison of Out of pocket expenditure on Health with its peers
In the advent of increased Non-Communicable Diseases such as cancer that require long time treatment, reduction of the Out-of-pocket payments is key in sustaining affordability and access to health care services. These can be achieved through increased insurance both by the government and the private sector.
Outstanding Stock of Treasury Bonds by Holders
Treasury bonds are a secure, medium- to long-term investment tools that typically offer periodic interest payments semiannually throughout the bond’s life. The Central Bank auctions Treasury bonds on a monthly basis, but offers a variety of bonds throughout the year, so prospective investors should regularly check for upcoming auctions. Outstanding Treasury Bonds increased by 11.2 per cent to Ksh 1,152,041 million in June 2016 from Ksh 1,035,662 million in June 2015.
Outstanding Stock of Treasury Bills by Holders
In June 2016 compared to June 2015, the stock of Treasury bills increased by 84.4 per cent to Ksh 588,088 million from Ksh 318,929 million while the proportion held by commercial banks increased by 67.4 per cent to Ksh 361,859 million from Ksh 217,742 million. In the same period, holdings by pension fund institutions increased to 20.1 per cent from 12.8 per cent while proportion held by insurance companies decreased to 3.1 per cent from 6.5 per cent.
Outstanding Stock of Treasury Bills and Bonds by Holders
The medium term debt strategy for the financial year 2016/17 emphasized on the need to develop the domestic market by increasing the issuance of Treasury bonds over the medium term. The strategy targeted a mix of 60 percent and 40 per cent for external and domestic financing, respectively.