Nairobi — Treasury is on the lookout for a new head to lead its Resource Mobilization Department, a key division tasked with managing the country's debt and coordinating financial relations with both domestic and international partners.
The Public Service Commission (PSC), which is mandated to carry out all hirings within the public sector, asserted that all interested candidates should share their credentials before September 10.
The resource mobilization lead will be in charge of sectors including array government's financial operations, including domestic and foreign borrowing, raising grants, and preparing and implementing the national government borrowing plan.
A look into Treasury outlines key roles of the office, including working closely with the fiscal agent to prepare the annual domestic debt issuance calendar.
As the principal issuer of government debt securities, the department is also responsible for implementing the government securities auction calendar.
This process involves close coordination with creditors and market participants to ensure the successful issuance of government securities.
Likewise, the department is in charge of managing investor relations, conducting roadshows, and engaging with stakeholders to maintain confidence in the government's financial strategies.
This includes processing government guarantees and coordinating missions and technical assistance from cooperating development partners.
The new head of the Resource Mobilization Department will be expected to lead these efforts, ensuring that the department's functions are carried out efficiently and in accordance with relevant laws.
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This role is crucial as the government continues to navigate the complex landscape of domestic and international finance, particularly in the face of economic challenges and increasing demand for public services.
His appointment comes on the back of the appointment of Raphael Owino as the Director General of Public Debt Management at Treasury, to whom the Resource Mobilization Lead will be answerable.
"His expertise in public debt management, particularly in achieving and maintaining sustainable public debt, reducing long-term debt servicing costs, and managing the risk of contingent liabilities, will be a significant asset," read the statement by Treasury earlier.
In January this year, the Treasury began searching for a new Public Debt Management Director General (DG) to replace Haron Sirima following his exit at the height of a high debt burden, which is eating up funds meant for development.
CBK and Treasury data showed that the country's debt burden was $69.3 billion as of the end of June last year, up from $58.4 billion during a similar period in 2022.
