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The protests, which have been led by young people and organised largely on social media, were initially sparked by a finance bill intended to raise 346 billion Kenyan shillings ($2.69 billion) in ...
On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/= and 100/=. All of the notes feature a portrait of Kenya's first prime minister and president, Jomo Kenyatta, on the front and ...
Amidst protests, the Kenyan government scrapped parts of the bill on 18 June 2024. According to Kuria Kimani, chairman of Kenya’s Finance and National Planning Committee, the proposed tax increases that were scrapped included a 16% value-added tax (VAT) on bread, as well as taxes on motor vehicles, vegetable oil, and mobile money transfers. [26]
The exchange rate of the Kenyan Shilling between 2003 and 2010 averaged about KSh74-78 per US Dollar. [67] The average inflation between 2005 and July 2015 was 8.5%. [68] In July 2015 Kenya's inflation rate was estimated to be 6.62%. [69]
Kimani Kuria, chair of the Kenyan parliament's finance committee, said the committee recommended amending the government's funding bill for the 2024/25 fiscal year to remove a new tax on car ...
Also, in many African currencies there have been episodes of rampant inflation, resulting in the need for currency revaluation (e.g. the Zimbabwe dollar). In some places there is a thriving street trade by unlicensed street traders in US dollars or other stable currencies, which are seen as a hedge against local inflation. The exchange rate is ...
The bank's collapse with pensions savings for thousands of workers, resulted in the resignation of Nahashon Nyagah the Governor of the Central Bank of Kenya for failing to prevent the [3] Also forced to resign was John Munge the Kenya Revenue Authority (KRA) Commissioner-General who was a director of Euro Bank, and had previously worked at another bank that collapsed.
A Kenyan man wanted in Massachusetts to face murder charges has been extradited nearly a year after he fled the United States, authorities said Monday. Kevin Adam Kinyanjui Kangethe is wanted for ...