The Kenyan government announced September 19 it will reduce its 2019-20 budget spending by KSh46.2 billion, or about $445 million, due to revenue collection shortfalls.
This announcement comes a few days after Acting Finance Minister Ukur Yatani announced strict cuts in spending on foreign travel by public servants and advertising by ministries.
These new budget cuts represent 2.1% of previous expenditures. In total, government spending is estimated at $27.3 billion (26.3% of GDP) while revenues are projected at $19.9 billion (19.2% of GDP). Authorities estimate the value of currently suspended development projects such as roads and dams at nearly $3.6 billion, due to a lack of government funding.
Last July, the country’s legal court announced the arrest of Henry Rotich, the country's former Finance Minister which was heavily criticized for increasing public spending last June and for introducing additional taxes to fund spending.
Moutiou Adjibi Nourou
The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...
Circular migration is based on structured, value-added mobility between countries of origin and host...
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...
BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...
Canyon Resources targets first bauxite exports from Minim Martap by mid-2026, with mining set to start in February 2026. The project holds 144 million...
Vungu Solar Pvt Ltd signed a 25-year power purchase agreement with ZETDC for a 30 MW solar plant. The project serves as the pilot for Zimbabwe’s...
Niger State plans a 100-MW solar power plant with an estimated cost of $163 million. The Islamic Development Bank supports the project’s...
Liberia and BADEA signed a $30 million financing agreement to modernize the Salayea–Konia road. The deal includes a $700,000 grant to...
The Khomani Cultural Landscape is a cultural site located in northern South Africa, in the Northern Cape province, near the Kgalagadi Transfrontier Park....
Three African productions secured places among the 22 films competing for the Golden Bear at the 76th Berlin International Film Festival. Berlinale...