WinnieG.

Are you aware that the @KeTreasury restructured its short-term domestic debt instrument into 6 year infrastructure bond? Read on to find out why and what this means #Debtanddevelopment #publicdebtcrisiske @cfpa_org

Today in our summary of submissions made regarding Finance Bill 2025, we look at proposals tabled by @ICPAK_Kenya, @PKFEA, @Andersen_KE & @DeloitteKenya. Quite impressed by submissions regarding widening of PAYE bands, I hope the @NAssemblyKE Finance & Planning Committee accords them the seriousness they merit. A 🧵on my key highlights.

Earlier today, Kenya Association of Manufacturers (KAM), together with the Retail Trade Association of Kenya (RETRAK) engaged Kenya Revenue Authority (KRA) in discussions concerning issues raised by industry players regarding the implementation of eTIMS and the VAT auto-populated returns. The meeting, chaired by Mr Gideon Muhwa, Acting Commissioner of Domestic Taxes, provided a platform for dialogue and collaboration. KAM raised concerns related to system challenges such as ETR machines, the iTAX invoice checker, and issues stemming from the lag of the TIMS system. We highlighted recommendations aimed at increasing uptake, particularly among groups such as local farmers and small service providers, who have not yet been fully onboarded into the eTIMS. Sensitization efforts are crucial, and KAM requested an extension of the onboarding deadline to facilitate this process. KAM Chief Executive Anthony Mwangi, and Hitesh Mediratta, Board Director and Trade and Tax Committee Vice Chair, reaffirmed the association's unwavering support for this transition as ensuring compliance remains central to our agenda. "Our collective objective is to safeguard uninterrupted trade and production. To achieve this, we advocate for heightened awareness, the launch of a sensitization campaign, and exploration of implementation strategies aimed at minimizing disruption for all stakeholders involved." #KAMAdvocacy

The International Monetary Fund (IMF) mission team, led by Ms. Haimanot Teferra, Mission Chief of the IMF’s African Department, has been conducting the seventh Program Review with the Kenyan authorities. Today, the team held a meeting with KAM to discuss the business environment and competitiveness, focusing on the business outlook, FX availability, and the impact of the Financial Action Task Force's (FATF) grey listing on the economy. KAM Chief Executive Anthony Mwangi highlighted a key component of the association's strategy plan for this year; strengthening fact-based research. In his presentation, he emphasized the primary drivers of industrial competitiveness: Energy, capital, taxation, and regulatory costs, specifically noting their impact on the cost of industrial inputs. Mwangi stressed that taxation isn't solely about cost but also about reliability. He mentioned that KAM is actively working on proposals for the Finance Bill 2024 aimed at establishing a dependable tax regime, aligning with a pro-industry National Tax Policy. Additionally, discussions addressed the impact on individuals at the bottom of the pyramid who have been severely affected by the unprecedented economic times. While the overarching goal is stability, the fluctuating policy landscape poses significant challenges. In the healthcare sector, there's a call to tighten our belts - both individually and collectively - as challenges persist and uncertainties loom. The meeting between the IMF mission team and KAM provided valuable insights into Kenya's economic challenges and opportunities. Moving forward, collaborative efforts among stakeholders will be essential in addressing ongoing uncertainties and promoting economic stability. #KAMAdvocacy

Earlier today, the Kenya Association of Manufacturers (KAM) engaged with the National Treasury to deliberate on the EAC 2024–25 pre-budget proposals. This meeting drew participation from KAM members representing various sectors, as well as representatives from the State Department for Industry and Kenya Revenue Authority (KRA). The agenda focused on proposals related to extension of stay applications, Duty Remission Scheme (DRS), and Tariff splits. This engagement marks a significant step towards optimizing market access opportunities within and beyond the East African Community (EAC) while enhancing the competitiveness of manufactured exports in the region. #KAMAdvocacy

@nyorude @W_lum254 Happy birthday mkubwa! May God look at you with favour this new chapter

First and foremost thank you God for gifting me a new year in my life. As I celebrate the day of my birth allow me recreate these immortal words from one of my very few support systems/structures @W_lum254. In his January 16, 2020 Facebook post titled: Lessons of Life, wuod nyandira made the following conclusions: What did I learn?! 1. Never stop trusting God. He is faithful. He is reliable; 2. Keep a small circle of genuine friends; 3. What you do while waiting for God to answer your prayer is very important. Get busy serving as you wait; 4. Prayer works. God answers prayers. The answer will come in God’s time and in His method; 5. Not all relatives and friends mean well. But you must forgive them for their ills; 6. Fasting and prayer are long term investments; 7. Given opportunity, do your best and improve yourself; 8. There is no harm in starting again. No matter where you are even after losing all, you can start over again 9. Your moments of difficulty are moments to grow. Ask God what lessons He wants you to draw out of the experience. Thank God for the situation; and 10. After God has remembered you, don't stop prayer, study of the word and service. I have never stopped. I still pray long. I still study and teach. I still intercede with tears. I still do evangelism. Continue the relationship with God. Blessings to All nyorude 18 January 2024

@titusnjonjo @MrRightke 😅😅😆😄😄😃

@MrRightke @Winnygloria

Citizens have said a NO NO NO. @Twaweza_Ke @OkoaUchumi_KE @TISAKenya @MzalendoWatch @Cspen_KE

@nyorude We learn everyday(u n me both)🙂

Nyar Isiolo, You know you are my teacher on matters regional trade. I will take this as insider views.

@nyorude I hope they (#GOK) listen to reason. Whatever they're proposing is 'serenading' the Tz government, probably even Rwanda and Ug..."Ke has been playing big brother for far too long, let's now overtake them," sounds like the conversations the rest of EAC countries are currently hvng

@nyorude I'm more worried that the country is willing to be uncompetitive/ kill industrialization by introducing an export and investment devlpt levy on raw materials/intermediate inputs- against WCO rules.This would be MASSIVE loss to the country to economies like Tz/Egypt for instance

"Taxes on unhealthy products like cigarettes and alcohol help to pay for some of our most important health services and protect public health. The proposed #FinanceBill2023 will remove the simple but important provision that excise taxes on these unhealthy products are adjusted each year for inflation. If governments refuses or fails to make this adjustment, their revenues will decline. This proposed change will ensure that international cigarette, beer and soda companies will not face higher taxes even as they continue to raise prices and reap profits. Over time, a failure to adjust taxes for inflation will mean that our government will collect less revenue causing a lack of resources to fund health clinics, schools, and other vital services. As a result, more people will die of cancer, lung disease, in road accidents, and more. Parliamentarians should reject this dangerous component of the finance bill." ~ @IILAinfo You can read @IILAinfo's submission on the #FinancePill2023 here bit.ly/3IyyYMa @Edgar_OE @Twaweza_Ke @CFAGlobal @OkoaUchumi_KE @johnKamau1 @KAM_Kenya @ipf_global @Winnygloria @theelephantinfo

@nyorude It's a tricky balance given the unpredictability the annual inflation adjustments previously posed to biz operations & the possibility of tax erosion that this proposal might cause...though, overall I think we need predictable tax terrain for investment, ama namna gani mkubwa?

@nyorude This has caught me off-guard, Thank you DO! Really appreciate!! Only getting wiser, tunaacha/punguza ki..(you know what)😃😁Thanks even for correcting where it's required

@Winnygloria happy birthday to one and only nyar Isiolo. May God’s blessings be upon you now and forever! I am on speed dial. God bless your nyar Nurse.

@KeTreasury @citizentvkenya @KTNNewsKE @tv47news @NTVnewsroom @BrianGeorgeKE @Senate_KE @NAssemblyKE @AnneWaiguru @KenyaGovernors @MediaCouncilK We, therefore, call upon the President and the Senate to urgently intervene and ensure that counties receive their funds promptly. Full Statement: fiscalhub.org/wp-content/upl…

@McOsedoh : Kenya’s Debt Crisis-Are citizens to blame? fiscalhub.org/2023/03/15/ken… @Winnygloria @CABRI_SBO @ronokaren @JKmuraguri @KwachaAfrika @nyogude @Conomore @JBonyo @nyorude @johnochieng15

@nyorude Amen and Shukran DO🤝

Thank you God for blessing us with a new month! I and mine (we) are very ready for your blessings and lessons. Dear Lord, I also thank you for honoring my mentee @Winnygloria a new job! As she starts today, may YOU please go ahead of her dear lord. youtu.be/BQYnwF_-1Rk

@nyorude Agree 100%

Earlier today, the #SANCUS project team in collaboration with CSO stakeholders and @NAssemblyKE, through the support of @EUinKenya held a technical review and Focus Group Discussion on the assessment of parliamentary oversight in the 12th parliament @ICPAK_Kenya @KenyaApnac

Championing ✊🏽 for the 2/3 principle requires an unwavering determination for lauding Article 81 on General Principles of the Electoral 🗳️Systems. For this reason I'm part of the CSO consultation w/ @crawntrustkenya + @MzalendoWatch through @FemnetProg because #WomenMustLead

@nyorude @FT @dianagichengo @OkoaUchumi_KE @TISAKenya @GikonyoCiru Ukoloni mamboleo at play #sovereigndebt

@FT repports that Ghana has halted payments on large swaths of foreign debt ft.com/content/2cffb0… @dianagichengo @OkoaUchumi_KE @TISAKenya @Winnygloria @GikonyoCiru

#Debt #Transparency #ADHR