Money Markets
By GEOFFREY IRUNGU
In Summary
- After rising in financial year 2011 to 1.7 million tonnes, it fell to 1.6 million tonnes in the period to June 2012. The report said that the figure was expected to fall further.
Kenya missed the targets on lifting cargo by rail and
upgrading of slums that it had set with the World Bank for the five
years to 2013 but scored highly in Internet uptake, financial inclusion
and road rehabilitation.
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A scorecard by the bank on the Country Partnership Strategy
(CPS) Paper 2008-10 also said that governance benchmarks were not met.
The CPS targeted to increase the annual freight
carried by Kenya-Uganda railway from 1.56 million tonnes in 2009 to more
than 2.3 million tonnes last year.
“[This was] not achieved: Freight handled has not increased to reach the target,” said the CPS report.
After rising in financial year 2011 to 1.7 million
tonnes, it fell to 1.6 million tonnes in the period to June 2012. The
report said that the figure was expected to fall further.
Out of the 23 million tonnes that went through the
Mombasa port, only four to six per cent is evacuated by rail, which
amounts to just about 1.4 million tonnes last year.
That is an indication that the rail system is increasingly taking less of the freight from the port.
That is an indication that the rail system is increasingly taking less of the freight from the port.
According to the Shippers’ Council data, freight
transported by rail used to be about 60 per cent between the 1960 and
the 1980s.
In terms of infrastructure the condition of the
Northern Corridor road, which is between Mombasa and Malaba, was to
improve to fair or good condition. In 2009, it was put at 54 per cent
but it was supposed to improve to 80 per cent by 2013. The CPS 2014-18
report said this had actually been achieved by December 2012.
The time taken to travel by road from the Mombasa
port to Malaba was supposed to fall from the annual average 18 hours per
vehicle in 2009 to 12 hours by 2013. The report said that this had
mostly been achieved.
The target of 50,000 urban slum residents who gain
access to improved infrastructure services under the Informal
Settlements Improvement Project was not achieved by June last year. The
ongoing Nairobi Metropolitan Services Project is intended to upgrade
slums by 2020.
Under the transparency and accountability pillar,
the report said that Treasury submission of central government annual
financial statements to the Kenya National Audit Office had improved to
four months in 2012, but was still below the accepted international
practice of less than a month.
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