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Kenya
Multi-billion dollar tax shortfall thwarts Ruto's economic plans

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Kenya

William Ruto's new order

Since coming to power in September 2022, Kenyan President William Ruto has sought to make good on his pledge to upend his adversaries' political "dynasties". Ruto is working to unravel their political and business networks, all while weaving his own. [...]

The Kenya Revenue Authority has collected considerably fewer shillings than expected, greatly irking President William Ruto's economic advisers and prompting a dressing down from the Treasury. [...]

Published on 02/04/2024 at 04:40 GMT Reading time 2 minutes

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Finance, Politics

Read this article in our running story

“William Ruto's new order”

Kenya

William Ruto's new order

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Kenya
Chris Kiptoo
David Ndii
Henry Rotich
Humphrey Mulongo
International Monetary Fund
Kenya Kwanza
Kenya Revenue Authority
Njuguna Ndung'u
President's Council of Economic Advisors
William Ruto

Kenya
Nairobi goes all out to develop digital strategy

Kenya's digital transformation is a key objective for William Ruto, as he reiterated during his government reshuffle last week.

Subscribers only Politics 17.07.2024

Kenya
Tax authorities under pressure after Ruto drops budget

The Kenyan president has made a series of announcements in response to angry protests against the 2024-2025 budget. The tax exemptions enjoyed by certain companies since Uhuru Kenyatta's time could be called into question.

Subscribers only Finance, Politics 10.07.2024

William Ruto at State House in Nairobi on 4 July 2024.

Kenya
Nairobi International Financial Centre strives to make its mark

Kenya's virtual special economic zone is looking to attract more foreign investors by offering them favourable tax arrangements. But it is contending with a complicated political and economic context.

Subscribers only Finance 17.05.2024

Kenya
Nairobi still reluctant to sign up to OECD global minimum corporate tax

Kenya, where tech giants such as Amazon, Facebook, Google and Microsoft operate, wants to keep its own digital tax in place for now instead of adopting the OECD's new global minimum rate on corporate profits.

Free access Finance 09.04.2024

Kenya
World Bank lends debt-laden Kenya Power $400m

The loan is intended to help the electricity distributor pay off its debts, but it comes with conditions attached.

Subscribers only Energy 05.04.2024

Kenya
Kenya Airways budget subsidiary makes loss for fourth year running

Despite an upturn in the aviation sector, Jambojet has not managed to take off again. The company is suffering heavily from the depreciation of the Kenyan shilling and is seeking to diversify its activities to protect itself.

Subscribers only Business 04.04.2024

Kenya
Nairobi takes aim at regional development money pits to appease IMF

Six regional development authorities that rack up almost $2bn of debt every year with little to show for it are to come under close scrutiny. Nairobi is keen to persuade the International Monetary Fund, which approved a new $938m facility last year, that it's serious about budget cuts.

Subscribers only Finance 26.03.2024

Kenya
Turbulent Kenya Airways privatisation prompts government rethink

The national carrier's woes are putting off potential private sector buyers. As the government mulls reviving a different kind of sell-off scheme for its stake, the airline has put some of its own plans on hold.

Subscribers only Politics, Business 07.03.2024

Kenya
Ruto gambles on chalk-and-cheese financial advisers Ndii and Rotich

The Kenyan president has reorganised his team of economic advisers, bringing on board Henry Rotich, a former minister and architect of major government borrowing. But he and David Ndii, a debt critic who heads the President's Council of Economic Advisors, do not see eye to eye.

Subscribers only Finance, Politics 01.03.2024

Kenya
Treasury under IMF pressure to settle outstanding contractor bills

The government has for the past two decades been racking up debts to its contractors. The situation has now become untenable and must be addressed if Kenya is to benefit from the next tranche of IMF aid.

Subscribers only Politics, Diplomacy 09.02.2024

Kenya
Ruto wants to renegotiate reform timetable with World Bank and IMF

The Kenyan administration wants to review some of its privatisation commitments without damaging its good relations with the Washington DC-based international lending institutions.

Subscribers only Politics, Diplomacy 01.09.2023

Kenyan President William Ruto and Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), at the 'New Global Financing Compact' summit in Paris on 22 June 2023.

Kenya
Ruto stands firm over finance bill

Keen to stay on good terms with international lenders who have recently released new funds, the Kenyan president is reluctant to tinker with his proposed budget, which calls for numerous new taxes and tax hikes.

Subscribers only Politics 12.06.2023

Kenya
Critically short-staffed KRA seeks urgent treasury lifeline

The Kenya Revenue Authority has been haemorrhaging employees and struggling to recruit new staff at a time when the government is raising taxes across the board.

Subscribers only Finance 09.06.2023

Kenya
Privatisation bill divides Ruto majority

The Kenyan executive is to submit a bill to the National Assembly which, if passed, would allow it to launch the privatisation of state firms without having to obtain parliamentary approval. The measure, which was not in President Ruto's election manifesto, is causing concern even within the coalition government.

Subscribers only Politics 05.04.2023

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Kenya
Chris Kiptoo
David Ndii
Henry Rotich
Humphrey Mulongo
International Monetary Fund
Kenya Kwanza
Kenya Revenue Authority
Njuguna Ndung'u
President's Council of Economic Advisors
William Ruto

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Kenya
Multi-billion dollar tax shortfall thwarts Ruto's economic plans

William Ruto's new order

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William Ruto's new order

Set up email notifications for these topics

Kenya
Nairobi goes all out to develop digital strategy

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Tax authorities under pressure after Ruto drops budget

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Ruto gambles on chalk-and-cheese financial advisers Ndii and Rotich

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Treasury under IMF pressure to settle outstanding contractor bills

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Ruto wants to renegotiate reform timetable with World Bank and IMF

Kenya
Ruto stands firm over finance bill

Kenya
Critically short-staffed KRA seeks urgent treasury lifeline

Kenya
Privatisation bill divides Ruto majority

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Kenya Multi-billion dollar tax shortfall thwarts Ruto's economic plans

William Ruto's new order

This article may be accessed by subscribers

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create a free account

William Ruto's new order

Set up email notifications for these topics

Kenya Nairobi goes all out to develop digital strategy

Kenya Tax authorities under pressure after Ruto drops budget

Kenya Nairobi International Financial Centre strives to make its mark

Kenya Nairobi still reluctant to sign up to OECD global minimum corporate tax

Kenya World Bank lends debt-laden Kenya Power $400m

Kenya Kenya Airways budget subsidiary makes loss for fourth year running

Kenya Nairobi takes aim at regional development money pits to appease IMF

Kenya Turbulent Kenya Airways privatisation prompts government rethink

Kenya Ruto gambles on chalk-and-cheese financial advisers Ndii and Rotich

Kenya Treasury under IMF pressure to settle outstanding contractor bills

Kenya Ruto wants to renegotiate reform timetable with World Bank and IMF

Kenya Ruto stands firm over finance bill

Kenya Critically short-staffed KRA seeks urgent treasury lifeline

Kenya Privatisation bill divides Ruto majority

Set up email notifications for these topics

About Africa Intelligence

Subscription

Africa Intelligence on social media

Indigo Publications' websites

Africa
The sensational rise and spectacular fall of Pefaco casino and hotels

Nigeria
Fertiliser giants Indorama and Dangote in murky waters over urea shortage

Kenya
Multi-billion dollar tax shortfall thwarts Ruto's economic plans

Kenya
Nairobi goes all out to develop digital strategy

Kenya
Tax authorities under pressure after Ruto drops budget

Kenya
Nairobi International Financial Centre strives to make its mark

Kenya
Nairobi still reluctant to sign up to OECD global minimum corporate tax

Kenya
World Bank lends debt-laden Kenya Power $400m

Kenya
Kenya Airways budget subsidiary makes loss for fourth year running

Kenya
Nairobi takes aim at regional development money pits to appease IMF

Kenya
Turbulent Kenya Airways privatisation prompts government rethink

Kenya
Ruto gambles on chalk-and-cheese financial advisers Ndii and Rotich

Kenya
Treasury under IMF pressure to settle outstanding contractor bills

Kenya
Ruto wants to renegotiate reform timetable with World Bank and IMF

Kenya
Ruto stands firm over finance bill

Kenya
Critically short-staffed KRA seeks urgent treasury lifeline

Kenya
Privatisation bill divides Ruto majority