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- “Do you need more money?” — World Bank to Kenya
“Do you need more money?” — World Bank to Kenya
Kenya's #1 newsletter among business leaders & policy makers
The World Bank has proposed a number of reforms that the taxman can consider to beef up revenue and sort out the mess in governance…
I am Brian from The Kenyan Wall Street. This and more on today's edition of our daily newsletter…
“Do you need more money?” World Bank Intervenes…
The World Bank
The World Bank, in its latest Public Finance Review, has called on Kenya to reform its tax system, citing inefficiencies, inequities, and a dangerously narrow tax base. The report proposes scaling back exemptions, making income taxes more progressive, and enhancing property tax collection — an effort that could yield billions in new revenue.
Kenya’s debt distress looms large, and the Bank warns that continued fiscal slippage or harsh austerity are unsustainable paths. Instead, a cocktail of reforms such as targeted VAT changes, expanded corrective taxes on pollution and sugar, and a reinvigorated county-level property tax — might offer a fairer and more stable revenue model. Read article here »»»»»
Today's Poll
Do you believe that Kenya's fiscal pressure can be relieved by expansion of the tax base? |
The Price of Weak Governance
In its latest Public Finance Review, the World Bank has spotlighted Kenya’s frail governance—particularly in the energy and police sectors — as a silent saboteur of economic growth.
Bungled power purchase agreements with private firms are fueling some of Africa’s steepest electricity tariffs, compounding the financial pressure on households and workers. Labor unions and civil groups, echoing a growing public outcry, are calling for the cancellation and renegotiation of these opaque deals, urging a pivot toward greater reliance on KenGen and contracts in local currency.
As Kenya faces a ballooning debt burden, the World Bank proposes structural governance reforms — ranging from digitized traffic fines to divestiture of state enterprises — to reclaim fiscal sanity and restore public trust.
Stay updated with more from the World Bank…
CAPITAL MARKETS
Sanlam's Rights Issue Undersubscribed By 82% On Deadline, Underwriter Fills Gap
Sanlam Kenya’s KSh 2.5 billion rights issue has closed fully subscribed, with the underwriter — Sanlam Allianz Africa — stepping in to mop up the 18% shortfall.
The offer, which priced 500 million new shares at KSh 5.00 apiece, saw an 81% take-up by shareholders, with an additional 5 million shares applied for in excess, bringing the pre-underwriting tally to 82%. It was a calculated, almost ceremonial display of corporate resilience, with the underwriter claiming 92.31 million shares to seal the deal. All eyes now turn to the 4th of June, when the freshly issued shares begin trading on the NSE.
NSE Gainers And Losers
Source : NSE
BRIEFS
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On your watchlist
Yesterday's Poll Results
Do you think Kenya will remain a regional startups powerhouse in the next five years?
🟩🟩🟩🟩🟩🟩 Yes, we have what it takes (88%)
⬜️⬜️⬜️⬜️⬜️⬜️ No, we shall be overtaken (12%)
Every innovation makes its appearance as a ‘luxury’ of the few well-to-do. After industry has become aware of it, the luxury then becomes a ‘necessity’ for all
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