Kenyan lawmakers have approved the reinstatement of certain tax measures that were previously abandoned following widespread protests. The National Treasury, facing significant fiscal challenges, has repackaged these taxes into three bills and submitted them to the National Assembly for approval.
Kenya plans to implement a 1% levy on entry fees to parks, reserves, and conservancies to support wildlife conservation efforts. The funds will be allocated to a Wildlife Conservation Trust Fund aimed at managing and restoring protected areas and safeguarding endangered species.
South Africans have withdrawn 49.6 billion rand ($2.8 billion) from retirement funds since the introduction of a new two-pot pension system three months ago, nearly doubling the National Treasury"s estimates. This high withdrawal rate could potentially boost the country"s economic growth by up to 0.3 percentage points this year.
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