Small businesses are at the risk of incurring an additional expense if the government passes a law that will make it mandatory for all companies to join the Kenya National Chamber of Commerce and Industry (KNCCI). According to Moses Kuria, Investment, Trade and Industry Cabinet Secretary (CS), during the launch of the 3rd Kenya International Investment Conference held between 29th-31st May at Safari Park Hotel, Nairobi, the government is working on a law that would have small businesses pay a minimum Sh5,000 mandatory subscription to the Kenya National Chamber of Commerce and Industry (KNCCI) in a bid to strengthen it.…
Author: Antony mutunga
Lending rates are the biggest cause of unhappiness amongst Kenyans, according to the Hanke (by Economist Steve Hanke) Annual Misery Index (HAMI) 2022. While the country is reeling from unprecedented economic pressure, with inflation hitting a high of 9.59% in October 2022, runaway lending rates are what cause Kenyans the most misery. In 2022, a majority of banks saw their overall lending rates increase as the government increased the benchmark rate for the first time in about seven years from 7% to 7.5%. for instance, according to data from the Central Bank of Kenya, popular banks such as Equity, KCB…