The bill aimed to address Kenya's $80 billion debt, with the government opting for tax increases rather than spending cuts. Moody's subsequently downgraded Kenya's debt rating, citing the government's decision to abandon the tax hikes. Ruto has announced new borrowing plans and spending...
KenyanPresident William Rutosaid Wednesday he won’t sign into law a finance bill proposing new taxes, a day after protesters stormed parliament and several people were shot dead. It was the biggest assault on Kenya’s government in decades. The government wanted...
Kenya’s controversial tax hike bill which sparked street protests, resulting in the shooting of a frontline AFP photojournalist in Nairobi and protesters storming the parliament, has been adopted by parliament amid accusation that some MPs were bribed t
Tension is building across Kenya as young people protest against proposed tax hikes in the bill that seeks to raise an additional $2.7 billion to reduce budget deficit. On Tuesday, people took to the streets in different cities across the country as the demonstrations entered the second week, ...
Police have fired tear gas at dozens of protesters in Kenya's capital and blocked off roads to the presidential palace as crowds took to the streets again nationwide. The demonstrations took place over a controversial tax hike bill despite the president bowing to pressur...
IT came as a huge shock to my colleague when she was saddled with a RM38,000 credit card bill – five transactions that took place in Brazil within minutes of each other, a country she had never visited in her life. The purported expense came when she was travelling overseas. She only...
Arabian Business profiles 50 business leaders who are propelling the Middle East towards a bright future
If you look at countries with a similar GDP per capita to Nigeria, you will find very big differences in insurance penetration, which measures the total gross premiums of the industry against nominal GDP. For example, India has an insurance penetration rate of 3.69 percent, while Kenya has a...
Kenya, a nation often praised for its stability, had seen escalating protests over the bill, which the government introduced to rein in public debt. Last week, the governmentscrappedsome tax increases, including a proposed 16% value-added tax on bread along with taxes on motor vehicles, vegetab...
Demonstrators protest against proposed tax hikes in a finance bill that is due to be tabled in parliament in Nairobi, Kenya, on Tuesday, June 18, 2024. Civil society groups say that despite the dozens of arrests, demonstrations and a planned sit-down outside the parliament buildings will c...