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Fiscal Analysis
Latest Article 28 Nov 2025
The Quiet Emergence of a Domestic Yield Curve: Why Safaricom and EABL Matter More Than Their Numbers
Kenya’s capital markets rarely enjoy the spotlight for structural progress. Too often, they are defined by volatility, political noise, or long periods of stagnation. Yet beneath that surface, real shifts are taking place. The Medium-Term Notes (MTNs) launched by Safaricom and the East African Breweries Plc (EABL) mark one of the most consequential developments in […]...
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7 Nov 2025
The Promise and Peril of the Kenya Sovereign Wealth Fund Bill, 2025
Kenya’s Draft Sovereign Wealth Fund Bill, 2025, marks a turning point in how the country proposes to manage, invest, and preserve national wealth. Behind its technical clauses lies a profound fiscal...
7 Nov 2025
The Politics Behind Africa’s Sovereign Wealth Funds: Lessons for Kenya
The National Treasury recently published the 2025 Sovereign Wealth Fund (SWF) Bill, sparking considerable discussion among financial and governance analysts. The fund is expected to comprise three mai...
8 Aug 2025
Global Squeeze, Local Strain: Kenya’s Tough Financial Road Ahead
Kenya is operating in a tightly constrained economic space. Debt levels are high. Credit remains tight. Borrowing costs have climbed. And global trade winds are no longer in our favour. In this enviro...
25 Jul 2025
Political Heat Rises as Moody’s Flags Mounting Debt Risks
The rise of Kenya’s debt, fuelled by fiscal deficits and a widening gap between revenue and expenditure, has become a significant political issue due to its high levels and the associated risks to t...
20 Jun 2025
Regulating Responsiveness: CBK’s Warning to Banks
In April 2025, the Central Bank of Kenya (CBK) announced that it would begin imposing daily fines on banks that fail to adjust lending rates downward in line with recent reductions in the Central Bank...
13 Jun 2025
Budget FY 2025/26 Highlights
The National Treasury Cabinet Secretary, Hon. John Mbadi, this week delivered his first official Budget Day speech before the National Assembly under the theme: “Stimulating Sustainable Economic Rec...
13 Jun 2025
Reining in Ghost Traders: Why KRA Suspended Online VAT Registration
The Kenya Revenue Authority (KRA) requires that a person who supplies taxable goods and or services with a value of Ksh 5 million or more annually should be registered as a taxpayer under the VAT Act....
13 Jun 2025
Breaking the Consensus: The Issues with the EU’s High-Risk AML Classification of Kenya
In global financial governance, timing and process are everything. Institutions tasked with regulating the cross-border financial system, policing illicit financial flows, and safeguarding financial i...
13 Jun 2025
2025/2026 National Budget Reading
National Treasury Cabinet Secretary, Hon. John Mbadi, delivered his first official Budget Day speech on Thursday before the National Assembly under the theme “Stimulating Sustainable Economic Recove...
9 May 2025
Finance Bill 2025: Who Gains, Who Loses?
The long-awaited Finance Bill, 2025, was published by the government under a gazette notice after being tabled in the National Assembly. This was before the House proceeded on its long recess and just...
9 May 2025
Finance Bill 2025: Impact Analysis
BENEFICIARIES Employees (a) Per Diem Section 5 of the Income Tax Act has been amended to increase the daily tax-exempt allowance (per diem) for employees on official duty from KSh 2,000 to KSh 10,000....
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