Business
Reps Halt SEC From Spending Unappropriated Revenues
The House of Representatives on Thursday barred the Securities and Exchange Commission (SEC) from spending its internally and externally generated revenues without appropriation by the National Assembly.
This is contained in a report presented by the House Committees on Appropriation and Finance adopted by the house.
The report reads: “All revenue: fees received, fines, grants, budgetary provisions and all internally and externally generated revenue shall not be spent by the SEC for recurrent or capital purposes”.
The statement said that the prohibition include “any other matters, or liabilities thereon incurred, except with prior appropriation and approval by the National Assembly”.
According to the report, all accounting officers of Ministries, Departments and Agencies (MDAs) who control heads of expenditures shall furnish the National Assembly on quarterly basis, with details of internally-generated revenue of the agencies.
It will be recalled that on December 4, the House Committee on Finance, walked out officials of SEC, from a meeting with the revenue generating agencies of government.
The National Assembly after investigating the near collapse of the capital market, resolved not to have anything to do with the commission, until its Director-General, Ms Arunma Oteh, was sacked.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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