The Kenya Kwanza Administration has allocated Sh. 287 billion to its five-point Bottom Up Economic Transformation Agenda (BETA) Plan which is President William Ruto’s focal point in ensuring the new administration delivers to Kenyans.
In his last term, former President Uhuru Kenyatta had the Big Four Agenda with its four pillars of Affordable Housing, Food Security, Affordable Healthcare, and Manufacturing.
For Ruto, the BETA Plan focuses on Agricultural Transformation and Inclusive Growth; Micro, Small, and Medium Enterprises (MSMEs); Housing and Settlement; Healthcare; and Digital Superhighway and Creative Industry.
At the core of the Finance Bill 2023 spending is President Ruto’s BETA Plan, which also informed the 2023/24 budget theme: ‘Bottom Up Economic Transformation and Climate Change Mitigation/Adaptation for Improved Livelihood of Kenyans.
BETA, just like the Big Four, is linked to Kenya’s Vision 2030 and the Sustainable Development Goals.
Finance Bill 2023 Core Spending
According to The Mwananchi Guide Financial Year 2023/24 Budget, President Ruto’s BETA Plan has nine key value chains the government has identified for growth. They include leather, cotton, dairy, edible oils, tea, rice, blue economy, natural resources including minerals, forestry, and building materials.
Kenya Kwanza allocated Sh49.9 billion under the Agricultural Transformation and Inclusive Growth where the largest portion, Sh8.6 billion, has been given to the National Agricultural Value Chain Development Project.
On Micro, Small, and Medium Enterprises (MSMEs) the government is also banking on Sh175 million Youth Enterprise Development Fund, Sh182.8 million Women Enterprise Fund, and Sh300 million funding to SMEs in the manufacturing sector.
On Housing and Settlement, President Ruto has allocated Sh35.3 billion for the affordable housing programme which also seeks to offer over 100,000 Kenyan youths with jobs while constructing the houses. In the 2023-24 budget, Sh3.3 billion will also go towards the construction of social housing units.
The government has allocated Sh141.2 billion to Health, with the Universal Health Coverage programme receiving Sh18.4 billion.
On the Digital Superhighway and the Creative Economy pillar,allocations of Ksh 15.1 billion have been made to fund initiatives in the Information, Communication, and Technology sectors.
