[5] Reuters. Explainer: What's next after Kenya withdraws finance bill amid protests? https://www.reuters.com/world/africa/kenyas-finance-bill-why-has-it-triggered-protests-2024-06-25/#:~:text=On%20Wednesday%2C%20he%20withdrew%20the,struggling%20to%20make%20ends%20meet. [6] Reuters....
The Kenyan government has scrapped the 2024 Finance Bill, which included $2.3 billion in tax hikes, following widespread protests across the country. The demonstrations, led by young people known as Generation Z, resulted in property damage and dozens of deaths. President William Ruto initia...
When the National Treasury handed over its budget proposals for the financial year 2022/23 to parliament’s Finance and National Planning Committee for approval, many of its members considered the document a poisoned chalice.
Tullow Oil (LON: TLW) share price has staged a strong recovery in the past few weeks even as the price of oil retreated. The stock rose to a high of 52.40p, which was about 32% above the lowest point in July. This rebound pushed the company’s market cap to about…August 2, 2022...
NAIROBI —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. ...
We expect that Kenya will continue to see anti-government protest activity in the coming months, largely centred around the proposed 2024 Finance Bill, which contains a raft of tax hikes. Our view is underpinned by numerous factors – including perceptions of a harsh police response, the decentr...
The soaring cost of loans is being aggravated by the government's ambitious bid to raise Sh598.3 billion from domestic borrowing to fund this year’s budget. Government securities, which are lucrative to banks because of their low risk, have seen their returns soar with the 1-year bill ...
The recent protests in Kenya might be specifically about the Finance Bill 2024, but public anger and disgruntlement has been building for months.
On Tuesday, people took to the streets in different cities across the country as the demonstrations entered the second week, calling on the legislators to reject the Finance Bill 2024, which they say will raise the cost of living despite many people already struggling to put food on the table...
Kenyan President William Ruto said Wednesday that he will not sign the 2024 finance bill that had sparked deadly protests in the country and left at least five people dead.