Blow to President Ruto as High Court suspends Finance Act, 2023

In our opinion in the June Issue No. 89, we assessed and commented on the then highly debated Finance Bill 2023, which President Ruto has incessantly been forcing on Kenyans, as substantially unconstitutional and anti-devolution. Although having been assented into law on 26th June 2023, the implementation of the Finance Act, 2023 has now been […]

Economy, Finance & Tax, Issue 90 - July 2023
July 06, 2023
117 views 6 mins 0

Inside Kenya Kwanza’s budget

Kenya’s debt has remained sustainable, but with elevated risks of debt distress due to persistent global shocks that adversely affect the liquidity ratios. The depreciation of Kenya shilling against major currencies and the rise of interest rates have elevated the cost of debt service. Further, the depreciation of the currency has increased the size of […]

A critic of the legislative and oversight role of the Kenyan legislature in regulating high debts and promoting socio-economic rights

The Kenyan legislature is one of the three arms of government which are constitutionally established by the 2010 Constitution.[1] Each of these three arms of government has its functions and obligations which spawn from the separation of powers theory by Madison.[2] The Kenyan legislature is tasked with the role of making and amending laws as […]

Economy, Finance & Tax, Editorial, Issue 89 - June 2023
June 03, 2023
245 views 7 mins 0

Finance Bill 2023 is substantially unconstitutional and anti-devolution

The infamous housing levy that President William Ruto is forcing on Kenyans has elicited considerable debate in the country. While many Kenyans rightly worry about the economics and fairness of the programme, few have raised questions about the constitutionality of the levy. One of the biggest casualties of this forced housing contribution is county governments. […]

Economy, Finance & Tax, Issue 89 - June 2023
June 01, 2023
148 views 11 mins 0

Can we tax ourselves out of debt into development? A perspective

From a development perspective, taxes are not only a source of revenue; a more comprehensive analytical framework considers four main purposes of taxation. The first purpose, revenue generation, is also an instrument of macroeconomic policy. A second purpose is redistribution, through progressive taxation and limiting tax incidence on people with lower ability to pay. Redistribution […]