SGR Contract is Illegal Court of Appeal
The Court of Appeal has ruled that the SGR contract is illegal, following Kenya Railways' (KR) failure to follow the set procurement laws. The Court ruled out that the procurement [...]
Kenya's President Nominates Janet Kabui Gathungu as Next Auditor General
President Uhuru Kenyatta has nominated Nancy Janet Kabui Gathungu as the Auditor General pending National Assembly's vetting and approval. Gathungu was among ten candidates vetted by the Recruitment panel including; [...]
Kenyan Legislators Reject Pension Tax, Scrap Excise Duty on Betting
Retirees in Kenya can breathe a sigh of relief as the National Assembly opposed new pension tax proposals. The finance bill had proposed the removal of existing tax incentive, that [...]Kenyans to Pay More for Alcoholic Drinks
Treasury CS proposed the amendment to the excise duty that will see an increase in excise duty on alcoholic products. The bill seeks a reduction of the threshold for alcohol [...]Pensions and Retirement Benefits under Siege in Proposed New Laws
Last Thursday, Treasury CS Ukur Yattani read out the BUDGET2020 under the theme: “Stimulating the Economy to Safeguard Livelihoods, Jobs, Businesses and Industrial Recovery.” The budget came at a time [...]Private Equity, Venture Capital Firms to come under CMA Oversight
Private Equity firms and Venture Capitalists that have access to pension funds will soon come under the regulatory regime of the Capital Markets Authority (CMA). This is to ensure the [...]
Kenya Budget 2020/21; More Taxes
Treasury CS Ukur Yattani read the budget promising to stimulate the economy and safeguard jobs and businesses. The 2020/21 budget will be financed by tax revenue, financial aid, and debt. [...]Treasury Cuts Funding for Big 4' Projects
The Big 4' Agenda projects have been allocated KSh 128.3 Billion in the 2020/21 National Budget. A massive drop from KSh450.9 Billion allocated in last year's budget and KSh 400 [...]Winners and Losers in the KSh 3.2 Trillion Kenya Budget 2020/21
The Treasury Cabinet Secretary Ukur Yatani walked a tight rope while making public pronouncements on the Kenya Budget including his revenue-raising measures and the highlights of the KSh 3.2 Trillion [...]Kenya's Budget 2020/21; Pending Bills
National Treasury CS Ukur Yattani reads his first budget statement today, Thursday 11, giving the outlook for the FY2020/21. He will be presenting a Ksh2.7 trillion budget whose Ksh1.8 trillion [...]High Court Halts Disbandment of Food Reserve Fund
The High Court has temporarily suspended the Treasury CS, Ukur Yattani's proposal to dissolve the Strategic Food Reserve Trust Fund (SFRTF), transferring its functions to the National Cereals and Produce [...]Kenya Budget 2020/21; Cost of Debt Financing to Exceed Development Expenditure
Budget 2020/21 estimates reveal that the cost of debt financing will exceed development expenditure as Kenya’s high public debt picks centre-stage. The irony is that public debt when being sourced [...]
