Protests over new taxes unnerve global investors

EAProtestKE2

Demonstrators light fires and block roads as they protest tax increases in Nairobi, Kenya on July 12, 2023. PHOTO | GERALD ANDERSON | AFP 

Investors are increasingly getting worried about continued anti-government protests in Kenya amid legal hurdles in enforcing new tax measures meant to help the country avoid a sovereign debt default.

Kenya’s opposition plans a new wave of demonstrations from Wednesday through Friday to, among other grievances, protest the worsening cost of living crisis, exacerbated by the tax measures to fund President William Ruto’s first budget.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.