![]() ![]() One of the most contentious provisions is a 1.5 percent levy on the salaries of all tax-paying Kenyans to fund an affordable housing programme. The proposed legislation calls for new or increased taxes on items including fuel and food, as well as mobile money transfers, beauty products and digital content. Ruto has said that the finance bill, which sailed through a second reading in parliament on Wednesday, will ease the debt burden, stimulate the economy and create jobs.īut opponents have warned the new measures will further hit people already struggling to make ends meet as the cost of living crisis bites. Protests were held earlier this month in Nairobi over the proposed tax hikes © SIMON MAINA / AFP/File Kenya is also sitting on a public debt mountain of almost $70 billion or about 67 percent of gross domestic product (GDP), and its repayment costs have jumped as the shilling sinks to record lows of more than 139 to the dollar. Kenyans are already feeling the pinch from soaring prices for basic necessities, along with a sharp drop in the value of the local currency and the worst drought in four decades.Įconomic growth slowed last year to 4.8 percent from 7.6 percent in 2021, reflecting the global fallout from Russia's invasion of Ukraine and the drought buffeting the vital agriculture sector. We have to sacrifice for the future," Ndung'u told local station Citizen TV earlier on Thursday. "We have to have some short-term sacrifices for us to achieve the long-term. Ruto is seeking to replenish the government's coffers and repair a heavily-indebted economy inherited from his predecessor Uhuru Kenyatta, who splurged on major infrastructure projects. NMG’s most recent digital brand, Nation.Africa, delivers quality content from across the continent, continuing NMG’s policy of promoting independent voices, diversity and freedom of expression.The 3.6-trillion shilling ($25.7 billion) financial plan for 2023/24 is the first since Ruto took the helm of the East African powerhouse in September last year following a bitterly contested election race.īut there has been widespread public anger over plans for a raft of tax hikes including on food and fuel expected to generate an extra $2.1 billion in revenue.Īnd just as Treasury Minister Njuguna Ndung'u began reading the budget, lawmakers allied with opposition leader Raila Odinga's coalition walked out of the chamber to cheers and jeers.Īlthough Ruto pledged on the campaign trail to help poor Kenyans known as "hustlers", he has been accused of introducing policies that have actually made their lives harder. A variety of news and commercial web sites have also been created, in both English and Swahili. NMG’s radio outlets include Easy FM in Kenya, and KFM and Dembe FM in Uganda. On the broadcast front, NMG operates television outlets NTV and QTV in Kenya, and in Uganda NTVU, as well as Spark TV, dedicated to women. NMG has also expanded to Rwanda, with The EastAfrican and Rwanda Today. ![]() In Tanzania, Mwananchi Communications Limited publishes three dailies, Mwananchi and Mwanaspoti, in Swahili, and The Citizen in English. In Uganda, Monitor Publications Limited publishes the Daily, Saturday and Sunday Monitor. In Kenya, Nation Newspapers publishes the Daily and Sunday Nation and Taifa newspapers as well as the Business Daily and a regional weekly, The EastAfrican. NMG's market share dominance is underpinned by state-of-the-art printing technology, investment in professional development and a highly-subscribed internet presence. It has diversified into magazines, directories, publishing and courier services. Majority-owned and run by East Africans, the Group’s operations include English and Kiswahili national newspapers, a regional weekly, several radio and television stations and a strong presence in digital media. ![]()
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