Treasury Single Account Is A Great Idea, The Only Problem Is How To Make Us See The Point

By Soko Directory Team / Published February 15, 2024 | 8:00 am



Dollar

There are so many sentiments flying around about the Treasury Single Account with the term eCitizen dominating the conversations. And the sentiments from the general public are not that friendly but looking at them keenly, most of them are from a point of ignorance. Forgive me.

I have also seen the Nation Media Group through NTV “deconstructing” eCitizen with what they are calling “explosive exposes” while stationed at some hospitals. NTV is doing a good job but they are wrong in demonizing the whole eCitizen thing and making it look like a dragon that has come to finish Kenyans.

On Wednesday, the Cabinet approved that all school fees will now be paid via eCitizen. This has been one of the most talked-about subjects. There have been screams. But with the approval of the Cabinet, it seems the train has left the station and there is no stopping.

Many feel it is not humanly possible for parents to pay their school fees via eCitizen. Some say it does not make sense for schools to “send their money” to Nairobi and then let the “National Treasury” decide whether “to give them the funds or not to give them.” Interest discussions.

First this first; What is the Treasury Single Account? The Treasury Single Account (TSA) is a unified structure of government bank accounts that allows for the consolidation and efficient management of government funds.

It centralizes all government receipts and payments into a single account, providing greater transparency, accountability, and control over public finances.

The TSA system ensures that all government revenues, including tax collections, fees, and other income, are deposited into a central account, rather than being dispersed across multiple bank accounts. This consolidation simplifies the tracking and monitoring of government funds, reducing the risk of fraud and mismanagement.

The truth is this system, unlike before, eliminates all the third parties and intermediates who would act “on behalf of the government” in terms of collecting revenue most of which somehow ended up in their pockets.

Now, when it comes to school fees, have you seen how headteachers set their fees and all of a sudden become millionaires because they have access to so much money that is rarely scrutinized? Ever found headteachers who own a fleet of cars, and flats when their salaries cannot afford and sustain that? They are using the fees that parents pay.

Now, with this system, this is eliminated. Remember, the cash will still go to the school because each school is submitting their bank accounts. So when someone pays through the eCitizen, the cash is not going to the National Treasury, but to the school. The only difference is now, the government knows how much that particular school has received and how it is being used.

Also, do you remember President Uhuru Kenyatta saying that Kenya was losing at least 2 billion shillings daily to corruption? The man was not joking. It was the truth. With this system, that is going to be a thing of the past because where else will the thief get the money unless they raid the National Treasury?

The idea is good but I think what the government has failed is to first explain in simple language what this means and how it will work. I think the government has failed by using huge terms that seem to have complicated things but that is why I am here. To break it down. Do not attack the system. Put those behind the system on their toes and see how this country will change.

Read Also: Public Sector Corruption Among The Most Disruptive Economic Crimes In East Africa




About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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