Finance minister admits economy is on ‘life support’ and warns Kenyans to brace for even harder times
On reforming state-owned enterprises (GOEs), the cabinet secretary stated that the proposed GOE Bill, 2025, would restructure about 60 commercial state entities to operate under the Companies Act, enabling them to focus on profitability and efficiency. The objective is to shift project development in these institutions from state-driven to private sector-led models, freeing up fiscal resources for social spending.
Central bank boss shrugs off recent credit downgrades by financial market experts, forecasts Kenya shilling surge
Rating agencies Moody’s and Fitch downgraded Kenya’s sovereign ratings following the withdrawal of the tax measures, saying the move could complicate the East African country’s fiscal consolidation efforts.
