Category: Kenyans
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Kenyans with over half a million in bank revealed
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Less than one percent of bank accounts in Kenya held more than Sh500,000 last year, highlighting Kenya’s weak savings culture and growing income inequality. Central Bank of Kenya (CBK) data shows that the 800,000 high-quality depositors represent 0.74 per cent of all bank accounts holding 85 per cent of deposits…
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Higher roads levy, subsidy cuts deny Kenyans relief at the pump
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Kenyans are expected to bear the brunt of a higher road maintenance tax for the second month in a row as fuel prices remain unchanged despite lower fuel costs. The Energy and Petroleum Regulatory Authority (EPRA) has kept prices unchanged at Sh188.84 and Sh171.60 per litre for petrol and diesel…
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How profiteers made Kenyans pay Sh24bn extra for cooking gas
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A new government-backed report reveals that Kenyan households are spending an additional Sh881 to buy 13kg of cooking gas due to a lack of competition in importing the commodity. A study report on the cost of service for the supply of Liquefied Petroleum Gas (LPG) by consultants hired by the…
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How often do Kenyans change their engine oil?
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Is there a way to calculate how diligently Kenyan motorists change their car’s engine oil, and how often they do it? — PL There may be several ways. But the quickest and cheapest way to get a general impression may be to compare total national fuel sales to total national…
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3 million Kenyans have three days to file tax returns
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About three million Kenyans have not filed their tax returns four days before the June 30 deadline, exposing them to penalties from the Kenya Revenue Authority. KRA data shows that about six million people filed their returns by June 26 against nine million active taxpayers in its database. The number…
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Finance Bill: MPs drop ‘punitive’ taxes as Kenyans protest
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The National Assembly Finance Committee bowed to pressure from various stakeholders and dropped a number of controversial provisions in the 2024 Finance Bill, even as Kenyans took to the streets in Nairobi on Tuesday morning to protest the proposed laws. This afternoon, the committee is expected to submit its report…
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Kenyans relocate to the US at the fastest rate in 10 years
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The number of Kenyans moving to the United States grew at the fastest pace in a decade in 2022, signaling growing opportunities for skilled and semi-skilled labor in the world’s largest economy. Data from the Migration Policy Institute (MPI), an American liberal think tank, indicates that Kenyan immigrants to the…
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New taxes to make banking services unaffordable to most Kenyans
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Banks have warned of higher transaction costs if Parliament approves the proposed value-added tax and increased fees on financial services, arguing that there is a risk of declining gains in financial inclusion and eliminating money laundering. The Kenya Bankers Association (KBA), in its reports to the National Assembly Finance and…
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Anglican Church says new taxes to push more Kenyans into poverty
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Anglican Archbishop of Jackson Ollie Sabet has petitioned Parliament to abolish punitive taxes that directly affect the poor and vulnerable. He told the National Assembly’s Finance and Planning Committee that the proposed taxation would disproportionately affect those with the least ability to pay. Mr. Oli Sabit appealed to the committee…
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Kenyans ditch WhatsApp after crackdown on clone apps
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Thousands of Kenyans have stopped using popular instant messaging app WhatsApp following a crackdown on cloned apps, allowing Facebook to be the most used social media platform in the three months to March. Latest data from the Communications Authority of Kenya (CA) reveals that WhatsApp usage fell by 0.3 percent…