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...
On Tuesday, as the protests exploded, the U.S designated Kenya as its first major non-NATO ally in sub-Saharan Africa, a largely symbolic act but one highlighting their security partnership. Also Tuesday, hundreds of Kenyan police officers deployed to lead a m...
Additionally, taxpayers that had declared and paid their principal tax liabilities for up to December 31, 2022, can rest easy as the Kenya Revenue Authority (KRA) will be required to refrain from collecting the interest and penalties from such taxpayers. Separately, taxpayers can look forw...
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, ...
Importers and local manufacturers of products containing nicotine or nicotine substitutes for Kenyans will be affected. ALSO READ:Kenya’s Finance Bill 2021 Proposes Removal of Parliament’s Oversight on VAT Approval
“The tax burden in Kenya is at its highest level since independence, but public services have largely remained on their knees. "As if this is not bad enough, the Finance Bill 2024 proposes even more and higher taxes. "Consequently, the people and the country will be way worse off at th...
The downgrades follow the August 2nd downgrade of Kenya’s Long-Term IDRs to ‘B-‘ from ‘B’ on high risks to Kenya’s public finances following the withdrawal of the Finance Bill 2024 amid the rising domestic debt costs. The viability ratings reflect the lenders’ high exposure to govern...
The use of this currency is available to anyone with access to the internet. Cryptocurrency is growing very popular in some parts of the world. Kenya is among them. About 1/3 of the population is using digital wallets through local microfinance services. ...
“Having reflected on the continuing conversation regarding the content of the finance bill 2024, and listening keenly to the people of Kenya who have said loudly that they want nothing to do with this Finance Bill 2024, I concede, and therefore I will not sign the 2024 finance bill,” Ruto...