Parliament’s Finance and Planning Committee supports a proposal to exempt green bonds from withholding tax citing that it will encourage more people to invest in the market.
In addition, tax-exempt green bonds will lead to sustainable job creation and a new revenue stream for the government.
Research by Strategic Business Advisory in partnership with Kenya Bankers Association estimates that in the next five to ten years, Kenya will have a demand for climate-friendly bonds amounting to Sh91 billion.
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