In its inaugural meeting, President William Ruto's Cabinet agreed to appoint a government agency to stabilise basic food commodities.
In a despatch sent to newsrooms on Thursday, November 10, Cabinet settled on the Kenya National Trading Corporation (KNTC) to undertake various initiatives to reduce the soaring cost of living.
KNTC was also tasked with ensuring sufficient food reserves were built in the country.
The institution will as well guarantee sufficient farm inputs and fertiliser to enable farmers to scale up food production.
"It was noted that KNTC will leverage its infrastructure and capacity to help stabilize prices of all essential items in instances where price swings of essential items are abnormal and against the public interest.
"KNTC will continue to partner with the National Cereals and Produce Board (NCPB) and local and regional financial intermediaries specializing in trade and commodity financing," read the statement in part.
In a bid to tame the effects of the ongoing drought, the government also approved the implementation of various programmes aimed at averting future crises.
The programmes included proactive investment in high-impact, large-scale water harvesting, storage and distribution.
Cabinet also approved the establishment of the Kabonyo Fisheries and Aquaculture Service and Training Centre of Excellence in Kisumu County to the tune of Ksh1 billion.
The centre will facilitate training and research in Kenya's fisheries and aquaculture industry. It will also take part in the production of raw materials for fertiliser.
Further, Ruto's Cabinet discussed steps taken to operationalise the Hustler Fund, with the government approving the distribution of the funds through mobile technology.
Cabinet scheduled the project to be launched on Thursday, December 1. Through the funds, Kenyans will take up personal, micro, SME, and start-up loans.
Review of the Competency-Based Curriculum (CBC), moreover featured heavily in the inaugural meeting. The Cabinet received a preliminary report on its progress and the country's level of preparedness for the upcoming national examinations.
Ruto will give way forward over the new curriculum once the committee completes the exercise. The task force has so far collected views in 37 out of 47 counties.
For outstanding bills owned to road contractors, the government approved payment of Ksh92 Billion through a bridge bond.
