Posted 11/24/2023, 6:13:27 PM
Kenya's Job Losses Mount to 70,000 as Taxes and Economy Take Toll
- 70,000 Kenyans have lost jobs in the past year due to new tax measures and economic challenges
- Employers association survey shows 3% job losses in private sector, with 40% of employers planning more cuts
- Weakening Kenyan Shilling and high inflation reducing purchasing power and business cash flows
- Taxes needing review VAT on fuel, PAYE, corporate tax - to ease cost pressures on businesses and consumers
- Proposals made to cap affordable housing levy and reduce corporate tax - to attract investment, boost businesses and jobs