State eyes wealthy Kenyans, firms with new coronavirus kitty

The government has launched a private sector-led Covid-19 Emergency Response Fund to gather resources for fighting the spread and impact of the virus.

In a statement issued Monday evening, President Uhuru Kenyatta said seed money for the newly created kitty will be drawn from salary cuts made by himself, Deputy President William Ruto and other officials in the Executive, Judiciary, Legislature and county governments as well as exchequer contributions.

“To foster national response to the coronavirus pandemic, the fund shall mobilise resources for emergency response towards containing the spread, effects and impact of the Covid-19 pandemic,” he said, adding the fund is meant to cater for Kenya’s less advantaged communities.

With 50 confirmed Covid-19 cases as at Monday and concerns that the cases may rise sharply in the next month, Mr Kenyatta welcomed donations towards the fund from wealthy Kenyans, local corporates, multinational companies and development partners.

“The exchequer contributions shall be supplemented by donations by Kenyan individuals and corporate entities, grants from our development partners and multinational institutions, and other such gifts, subscriptions and contributions as the fund may receive from time to time,” said the President.

The board managing the fund will be chaired by Kenya Breweries Limited managing director Jane Karuku.

Members include Devki Group founder Narendra Raval, Kenya Airways #ticker:KQ chairman Michael Joseph, Equity Group #ticker:EQTY chief executive James Mwangi and fellow bank bosses Joshua Oigara (KCB Group #ticker:KCB ) and Jeremy Awori (Absa #ticker:ABSA ).

Also on the board are Kenya Association of Manufacturers CEO Phyllis Wakiaga, Wachira Waruru (Royal Media Services) and hotelier Mohamed Hersi who heads Kenya Tourism Federation.

Presidential advisor Kennedy Kihara will serve as the board’s secretary with Council of Governors chairman Wycliffe Oparanya and Interior CS Fred Matiang’i appointed to represent the government in the board.