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Kenya’s universities have been ordered to publish regular financial performance reports as part of sweeping regulations which take effect this year, aimed at lifting the veil of secrecy that has shrouded institutions’ financial status and effectively put millions of dollars at risk. Currently, the publication of financial performance for public universities takes as many as four years, a situation that has seen most institutions drift into financial problems. In addition, none of the private universities in the country has ever made public their financials despite their handling millions of dollars in student funds annually.

Following 2013 Cabinet’s approval for the funding framework to ensure equity and transparency in the allocation of financial resources to public higher education institutions, the National Council for higher Education (NCHE) says budgetary submissions are being finalised for the 2017/18 financial year. The funding framework was for the first time implemented this current financial year for the country’s only two public higher education institutions.