[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108990-en":3,"doc-seo-108990-105":31,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},108990,687197207919,"Theodora","https://ap-avatar.wpscdn.com/avatar/a000253d6f5f7c60be?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779446848396160552",8,"Research & Report","Kenya State Corporations Review - Corporate Governance and Fiscal Risks of State Corporations - August 2021","Kenya State Corporations Review examines how corporate governance arrangements shape accountability and how fiscal relationships create measurable costs and risks for Kenya’s government. The report maps the state corporation landscape, clarifies de jure versus de facto definitions, and reviews the portfolio’s characteristics. It analyzes fiscal costs and the fiscal risks originating from state corporations, then evaluates governance roles, ownership and oversight, performance monitoring, boards, and controls, emphasizing transparency and risk-informed public financial management.","Public Disclosure Authorized Public Disclosure Authorized  \nReport No: AUS0002291  \nKenya  \nCore-Kenya PER  \nKenya State Corporations Review:  \nCorporate Governance and Fiscal Risks of State Corporations  \nAugust 2021  \nMTI  \nKenya State Corporations Review:  \nCorporate Governance and Fiscal Risks of State Corporations  \nAndreas Fiebelkorn, Christine Owuor, and Diana Nzioki  \nAugust 2021  \nAbbreviations  \nCEO Chief Executive Officer  \nDASQA Directorate of Accounting Services and Quality Assurance  \nDBK Development Bank of Kenya  \nDWU Dock Workers Union  \nFY Fiscal Year  \nGDP Gross Domestic Product  \nGIPE Government Investment and Public Enterprises Department  \nGoK Government of Kenya  \nICDC Industrial Commercial Development Corporation  \nIFRS International Financial Reporting Standards  \nIMF International Monetary Fund  \nINTOSAI International Organization of Supreme Audit Institutions  \nIPPF International Professional Practices Framework  \nIPSAS International Public Sector Accounting Standards  \nISAs International Auditing Standards  \niSOEF Integrated State-Owned Enterprises Framework  \nISSAI International Standards of Supreme Audit Institutions  \nKAA Kenya Airports Authority  \nKBC Kenya Broadcasting Corporation  \nKEMSA Kenya Medical Supplies Authority  \nKenGen Kenya Electricity Generating Company  \nKETRACO Kenya Electricity Transmission Company  \nKPA Kenya Ports Authority  \nKPLC Kenya Power and Lighting Company  \nKRC Kenya Railways Corporations  \nMDAs Ministries, Departments and Agencies  \nNGE National Government Entity  \nNT National Treasury  \nOAG Office of the Auditor General  \nOECD Organisation for Economic Co-operation and Development  \nPFM Public Financial Management  \nPIC Public Investment Committee  \nPSASB Public Sector Accounting Standard Board  \nROA Return on Assets  \nROE Return on Equity  \nSAGA Semi-Autonomous Government Agency  \nSC State Corporation  \nSCAC State Corporations Advisory Committee  \nSCD Systematic Country Diagnostic  \nSOE State-Owned Enterprise  \nSSA Sub-Saharan Africa  \nAcknowledgements  \nThis report has been developed under the aegis of the Kenya Public Expenditure Review.  \nThe report was produced by a team from the World Bank Group led by Andreas Fiebelkorn (Public Sector Specialist) and included Christine Owuor (Senior Public Sector Specialist), Diana Nzioki (Public Sector Specialist), and Carol Onsomu (Consultant) who provided support with data gathering. The report was prepared under the guidance and with inputs of Gael Raballand (Lead Public Sector Specialist), Alex Sienaert (Senior Economist) and Peter Wankuru (Senior Economist) . The team received valuable comments and inputs from Lucy Musira (Public Sector Specialist), Leonard Matheka (Senior Financial Management Specialist), Alexander Berg (Senior Financial Sector Specialist), Samuel Kirenge (PFM Consultant), and Ariel Melamud (Consultant) . The team would also like to thank the peer reviewers Henri Fortin (Lead Financial Management Specialist), William Battaile (Lead Country Economist), and Tobias Rasmussen (Kenya Resident Representative, IMF) for their valuable insights.  \nThe team would like to extend its sincere gratitude to counterparts in the Kenyan government, includingthe staff of the Government Investment and Public Enterprises Department (GIPE) and the Accountant Services and Quality Assurance in the National Treasury, the Inspectorate of State Corporations (ISC), and the Office of the Auditor General for their excellent collaboration and willingness to share information and provide advice. In particular, the authors would like to thank Samuel Kiiru (Chief Economist, NT), Eng Stanley K. Kamau (Director General, Public Investment & Portfolio Management), James Wangombe (Deputy Inspector General – ISC), Kennedy Ondieki (Director, GIPE), Dr. Stephen Ikikii (GIPE) and Edward Wamweya (GIPE), as well as the participants of the preliminary findings mission in February 2021 for their valuable feedback.  \nContents  \nExecutive Summary ....","cbCaioOsoEx5tVJr","https://ap.wps.com/l/cbCaioOsoEx5tVJr","pdf",716065,5,1,42,"English","en",105,"# Executive Summary\n# Introduction\n# State Corporation Landscape in Kenya\n## Context and Development of State Corporations in Kenya\n## De Jure vs. De Facto Definition and Classifications of State Corporations\n## Kenya’s State Corporation Portfolio\n# Fiscal Relations with the Government\n## Fiscal Costs of State Corporations\n## Fiscal Risks emanating from State Corporations\n# Corporate Governance and Accountability\n## Role, Establishment and Dissolution of State Corporations\n## Ownership and Oversight Functions\n## Performance Management and Monitoring\n## Boards of Directors\n## Controls and Transparency","[{\"question\":\"What is the main focus of the Kenya State Corporations Review report?\",\"answer\":\"The report focuses on corporate governance and how state corporations generate fiscal costs and fiscal risks for Kenya’s government.\"},{\"question\":\"How does the report describe the state corporation landscape in Kenya?\",\"answer\":\"It reviews the development of state corporations, explains de jure versus de facto classifications, and outlines Kenya’s state corporation portfolio.\"},{\"question\":\"Which governance and accountability areas are covered?\",\"answer\":\"It covers roles and governance structures, ownership and oversight functions, performance management and monitoring, boards of directors, and controls and transparency.\"}]","Kenya State Corporations Review - 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