INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established by the Accountants Act, Laws of Kenya)
THE 25th ECONOMIC SYMPOSIUM
Date: 15th – 17th February 2017
Venue: TBC – Nairobi
Theme: Economics & Politics; A case for Resilience
The Economic Symposium is a premier event organized once each year to attract economists, accountants and key government decision makers to converge and have frank debates and discussions on the economy. In 2017, ICPAK will hold its 25th Economic Symposium in Nairobi Kenya focusing on economic resilience.
The Kenyan Economic Cycle tends to follow a rhythmic pattern whereby once every five years we register our lowest GDP growth. So far, Kenya has held 10 General elections since independence. In the 7 of these, the rate of economic growth slowed down in the year after the election. For instance, the 2007 General elections had a significant impact on Kenya’s economic growth. According to the Kenya Bureau of Statistics, Real Gross Domestic Product (GDP) is estimated to have expanded by 1.7% in 2008 compared to a 7.1% in 2007 due to post election disruptions.Similarly, according to the Economic Survey 2014, uncertainty due to the General Elections held in March 2013 was one of the factors that impacted negatively on the Country’s economic growth.
Coincidentally this has been in sync with our political cycle whereby we hold a general election once every five years. It is plausible then that politics has in fact been an economic destabilizer or that our economic fundamentals are not resilient enough to withstand economic shocks. 2017 will be an apt time to reflect on key drivers of the economy and what needs to be done to assure investors and Kenyans at large that we remain open for business even in an election year. Among the topics lined up are;
- Economic Symposium Topics
The following topics have been purposely selected and choice speakers have been invited to ensure factual based discourse.
- Political Cycles and their Impact on the Economy
It would seem that the prospect of a change in government signals a possible change in economic policy direction resulting in a hold-back strategy among investors hence stagnating economic growth. It is however not wholly true that such dips in economic growth can be fully attributable to a possible political transition as the nation has adopted the Medium Term Expenditure Framework and long term vision such as vision 2030. This presentation will review economic performance over the last two decades or so, isolate trends and their drivers and propose measures which if embraced will insulate the economy from impacts of political cycles.
- Economic Stewardship & Scorecard
Once every five years, Kenyans head to polling booths to select among competing political party manifestos and economic stewards. The promise of economic growth and development is crafted in the political party manifesto and sold to the populace as a contract on which the performance of the party or coalition of parties in power may be assessed. Moreover, most of the Jubilee Coalition Government the policies, programs and projects are outlined in the Second Medium Term Plan of Vision 2030 themed, “Transforming Kenya: Pathway to Devolution, Socioeconomic Development, Equity And National Unity. The Plan covers the period starting 2013 to 2017. This presentation will therefore review the contract by the current government with its citizens and attempt a broad based assessment of the Government’s performance in the steering economic development and growth
- The Cost of Corruption in Kenya
Kenya has made some significant reforms that aim at combating corruption including enactment of the Anti-Corruption and Economic Crimes Act, 2003, and the Public Officer Ethics Act, 2003 the ratification of the United Nations Convention against Corruption (UNCAC) on 9th December, 2003; promulgation of the Constitution of Kenya (2010) and the establishment of the Ethics and Anti-Corruption Commission (EACC) among other significant reforms.However, and in spite of these initiatives corruption has remained widespread. The fight against graft has been characterized more by a frequency in change of leadership at the agencies fighting corruption than the number of convictions for economic crimes, it isn’t farfetched to wonder what has been the true cost of corruption in Kenya. Using publicly available records, this presentation will attempt to quantify the missed opportunities on account of corruption. The question on where we go from here will be asked and proposals made on the way forward.
- Funding Devolution; A Cost Benefit Analysis
A lot has been said about the devolved system of government much of which bordering on how much has been wasted on international trips, meeting and sitting allowances. Some focus has shined on the division between development and recurrent expenditures with some counties being ranked better relative to others. This presentation will delve into what it has costed the tax payer to sustain the expansive and layered government structure and spare time to engage with symposium participants on what ought and needs to be done as we complete the first term of county governments.
- National Public Debt Controversy
The controversy around whether or not we have taken on board too much debts refuses to die away. Initially, donor institutions such as World Bank gave assurances on the remaining leg room to borrow, but in the recent times there have been reversals with IMF advising for caution. The key questions in this presentation will be have we over-geared the nation? And if this is the case what are the feasible option in internal domestic revenues to support government expenditure.
- PANEL DISCUSSION: The Capping Interest Rates Debate
According to the Recent World Bank’s Economic Update 2016, the introduction of the interest rate caps could constrain credit growth to the private sector and low-income households. Drawing from experiences of a panel of experts drawn from regulators, commercial banks, a professional accountancy firm and a consumer protection group, we will review the lending space in the short period that that the law that caps interest rates has been in operation. Though the period of its application is still short, it is possible to evaluate if this was a necessary intervention or an indication of market failure
2.9 Planning to Retire or Planned Retirement
It is said that planning for retirement ought to start on day one of employment but many procrastinate on this critical aspect until it is too late to save up enough to guarantee a good life in retirement. An experienced and seasoned financial planner will take members through the dos and don’ts as you plan for and while in retirement.
3.0 Target Audience:
Over the last 24 years in which ICPAK has held the Economic Symposium, it has been traditionally being officially opened by National Treasury who engage participants on matters central to our economy. Others who have found the Symposium particularly useful include Economists, National & County Budget Officers & Committee Members, Board members, CEOs, Senior Managers and Executives, Tax Planners, Academia, Researchers and professionals keen on economic matters
4.0 Online Booking
Kindly note that booking for the 25th Economic Symposium available either online at www.icpak.com/events or on the ICPAK Live – A smart phone based application that is available from google store. Delegates are urged to note that the bookings close on 20th February 2017 at 1700 hrs
5.0 Economic Symposium Charges:
The charges for the 25th Economic Symposium which cover seminar materials, meals, and e-certificates of attendance is as provided under;
|Category||Early Bird Registration
Booked & Paid by 8th February 2017
Booking & Payments or LPOs / LSOs received after 8th February 2017
|Associate Members/ Students||Kshs. 23,950||Kshs. 28,950|
|Members||Kshs. 31,950||Kshs. 36,950|
|Non Members||Kshs. 41,950||Kshs. 46,950|
|International Delegates||USD 450||USD 500|
6.0 Continuous Professional Development Units – 20
Members of ICPAK and other reciprocating professional bodies will earn 20 CPD points upon successfully attending the Economic Symposium
7.0 National Industrial Training Authority (NITA) Reimbursement
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).
8.0 Sponsorship Opportunities & additional information
The Economic Symposium attracts over 300 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring the event can reach us through email@example.com. Other requests for information can be channeled to us via telephone calls on +254 733 856 262 or via email to firstname.lastname@example.org. We encourage to regularly visit our website www.icpak.com for updates on the Economic Symposium and other upcoming events