Kenya on The Boil

2024 • 3min • News • Business


Published On: June 26, 2024 - Chaos continues to grip Kenya as the country remains to be on the boil. Protests over a contentious finance bill have led to the deaths of as many as thirteen people in Kenya. Police deployed tear gas, water cannons and fired shots at demonstrators to disperse the crowds, while protesters retaliated by throwing stones at security forces. The finance bill aims to raise an additional $2.7 billion in taxes as part of an effort to lighten the heavy debt load, with interest payments alone consuming 37% of annual revenue. Concerns persist over a proposed 16% tax on goods for specialized hospitals and an increase in import duties from 2.5% to 3%. This move could likely escalate healthcare costs and drive up prices for imported goods, further straining household budgets.