Nairobi — The Capital Markets Authority (CMA) is looking at partnering with county governments to help them raise funds at the capital market through county bond issues. CMA Chairman Kungu Gatabaki says this will help county governments get more funding for investments in their counties and stop reliance on the national government.
"Instead of fighting with the national government for allocation of funds, we would like the county governments to start thinking in terms of county bonds," Gatabaki said. He said that county governments should create County Development and Investment Agencies to help accrue the opportunities at the capital market for long term funding of their development needs.
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