FKE warns Robin Hood tax will kill inter-bank lending

Kenya Bankers Association CEO Habil Olaka addresses the media during the release of third report on impact of interest capping law, on Friday, May 11 2018.The report shows that while the law was well-intentioned, it has failed to achieve its key objective of increasing credit uptake by households and micro and small enterprises. [David Njaaga, Standard]

The new tax measures that Treasury proposed in the budget for this financial year will reduce Kenya’s attractiveness as an investment destination.

The Federation of Kenya employers says the tax measures as well as increases in other statutory charges such as minimum wage and the National Hospital Insurance Fund could result in some private sector player ‘rethinking’ their continued stay in Kenya.