Good evening. It’s Brian from The Kenyan Wall Street.

In today's newsletter, the Kenya Bankers Association (KBA) is making a passionate appeal to the gov't. ‘A slight reduction in PAYE can go a long way in reducing overall economic strain’.

These are more stories in today’s newsletter…

‘Let the Payslips Breath’ - Bankers Tell Gov’t

By Harry Njuguna

The Kenya Bankers Association (KBA) is pushing for a sweeping 5% PAYE cut across all income bands after the Finance Bill 2026 quietly dropped earlier promises of tax relief for salaried workers. At the core of its argument is a perceived imbalance: workers face a top PAYE rate of 35%, higher than the 30% corporate tax rate, a gap the lobby says discourages formal employment.

The bankers are pitching the cuts not as populism but as stimulus, arguing that higher take-home pay would boost loan repayments, unlock credit growth, and inject billions into the economy. However, the Treasury has effectively hit pause, citing fiscal strain from fuel subsidies and external shocks, leaving workers exposed as statutory deductions, from NSSF to SHA and the housing levy, continue to rise. The result is a widening squeeze on net pay, setting up a quiet but consequential standoff between fiscal reality and a banking sector betting that tax relief could revive both consumption and credit.

Read the story here >>>>>

More On Taxes & Public Policy

The Purge at WPP Scangroup

By Harry Njuguna

Listed advertising firm, WPP Scangroup, has set the stage for a closely watched 8 June 2026 AGM where minority shareholders will finally get a formal vote on their bid to remove the entire board. In a move that sharpens the drama, the company has already removed and replaced three of the directors targeted in the ouster motion, installing new WPP-linked executives just days before the notice.

The reshuffle deepens tensions in a governance battle where WPP Plc’s 50.1% controlling stake effectively determines the outcome, despite a revolt led by founder and former CEO Bharat Thakrar. Beyond the boardroom fight, the meeting is set to put on record a turbulent five-year run marked by heavy losses, falling revenues, and a contested related-party loan that continues to draw scrutiny.

Read the full story here >>>>>

More In the Capital Markets

‘The Case For an African Commodity Exchange’ - Nigerian President Tinubu

By Fred Obura

Nigerian President Bola Ahmed Tinubu has called for a continent-wide commodity exchange that would allow African countries to trade resources directly, bypassing the US dollar and reducing external dependency. Speaking at the Africa CEO Forum in Kigali, he argued that Africa’s current model of exporting raw materials and importing finished goods continues to drain value from the continent. The proposal ties into broader efforts to deepen African Continental Free Trade Area (AfCFTA) integration, with leaders pushing for local processing, stronger supply chains, and greater control over resource pricing. But beyond the rhetoric, the plan raises deeper questions about execution, financing, and whether African economies can coordinate closely enough to turn commodities into a shared financial and industrial strategy.

Read the full article here >>>>>

More From the Continent

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