Nairobi, Kenya – The Kenyan government has unveiled its most comprehensive cryptocurrency regulatory framework to date through the Kenya Competition (Digital Asset Markets) Rules, 2024. These draft rules – currently open for public comment – represent a seismic shift in how crypto businesses must operate, with stringent requirements that could force half of existing platforms…
Nairobi, Kenya – A KSh 17.7 billion (£100 million) UK-backed investment fund is set to be released Kenya’s startup ecosystem, aiming to back 500 high-growth ventures over the next five years. Dubbed “Ukumbi” (Swahili for “platform”), this initiative represents the largest country-specific startup fund in East Africa, but comes with strings attached that could reshape…
Nairobi, Kenya – As East Africa braces for an economic showdown, Kenya has joined Uganda, Rwanda, and Tanzania in presenting competing budget blueprints for the 2025/26 fiscal year, collectively allocating over $58 billion to reshape the region’s economic landscape. With growth projections diverging and taxation strategies clashing, these budgets reveal how each nation plans to…
Nairobi, Kenya – The Kenya Revenue Authority (KRA) has launched its most aggressive compliance crackdown in five years, deactivating 23,000 VAT accounts while simultaneously reporting a record KSh 32 billion VAT collection for May 2024. This dual action reveals the tax agency’s new “carrot-and-stick” approach to boosting revenue, combining enforcement with improved service delivery. But…
Nairobi, Kenya – In a development that could cost Kenya’s economy up to $3.2 billion annually, the European Commission has formally recommended adding Kenya to its list of high-risk jurisdictions for money laundering and terrorist financing. This “grey listing” – if approved by the European Parliament – would place Kenya alongside countries like South Africa…
