<P> Its objective is to ensure that the MSE sector becomes efficient, innovative and has a diversified and competitive product range . It will also provide policies that raise the earnings and productivity of an estimated 8.3 million Kenyans working in the informal sector . </P> <P> The operations of the investor compensation fund, which aimed to compensate investors who had lost money to defunct stock brokers such as Nyaga Stock Brokers and Discount Securities Limited, was launched under his watch . In launching the operations of the fund, also ensured that the interests of future investors were safeguarded . The fund had prior to the launch of its operations been established under the Capital Markets Act . </P> <P> This Fund is specifically meant to compensate investors who suffer losses resulting from failure of a licensed stockbroker or dealer to meet his contractual obligations . In both the case of the collapse of Nyaga Stock Brokers and the collapse of Discount Securities Limited all genuine claims within the statutory maximum of Sh. 50,000 per every investor were compensated . </P> <P> The government, through treasury and public financial management reforms, strengthened audit capacity as a result of structured capacity building and the merger of all Government of Kenya (GoK) audit functions (including those of schools and local authorities) so as to enhance their independence and effectiveness . The Ministry of Finance also issued a circular to bring donor - funded projects within the mandate of the Treasury's Internal Audit Department (IAD) with an aim of effectively monitoring the use of funds allocated to these projects . </P>

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