Kenyan Government Introduces Economic and Tax Reforms to Boost Growth and Citizen Support

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November 11, 2024, Nairobi – The Kenyan Government has announced a set of economic and tax reforms under its Bottom-Up Economic Transformation Agenda (BETA Plan) to drive growth, job creation, and income equality for all Kenyans. Speaking at the KICC, Government spokesperson Hon. Sen. (Dr.) Isaac Mwaura outlined measures aimed at creating a stable economic environment and reducing the country's reliance on foreign debt. The new policies emphasize generating more domestic revenue, with Kenya’s national debt already declining to 68% of GDP, down from 73%.

The proposed tax amendments focus on equitable taxation, tax amnesty where appropriate, and reducing tax expenditures to allocate more funds toward essential services. Developed with public input, the reforms, including the Tax Laws (Amendment) Bill, 2024, intend to increase funding for counties and improve social welfare, creating a fairer system that ensures citizens contribute their rightful share.

Under the new reforms, workers will benefit from tax relief on non-cash benefits, pensions, and health contributions, effectively increasing disposable income. Businesses will also see support, as amendments aim to attract foreign investments, streamline local business operations, and require that 40% of government procurements come from local sources. Additionally, the digital tax base will expand, ensuring fair contributions from digital service providers.

Agriculture, a critical sector under the BETA Plan, is also prioritized. The National Cereals and Produce Board (NCPB) has stabilized maize prices at Ksh. 3,500 per 90 kg bag to support farmers’ incomes and secure food affordability. Farmers have welcomed the NCPB’s decision to open depots to facilitate trade.

The Government also highlighted progress in healthcare with the Social Health Authority (SHA), which has replaced NHIF, now providing over 14 million Kenyans with greater healthcare access. SHA ensures free treatment for chronic conditions at compliant facilities, and the Government is urging private hospitals to join to meet the rising demand for services.

Lastly, the Government affirmed its commitment to transparency and efficient resource use, particularly in health, housing, and education, aiming to build public trust and uplift Kenyans through fair economic policies and sustainable growth initiatives.


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