The government plans to use an extra Sh5 from the fuel levy as collateral to raise Sh120 billion for road projects, increasing pressure on motorists and road maintenance funds.
William Ruto’s government plans fresh borrowing backed by the fuel levy to finance road projects. [File, Standard]
President William Ruto is set to saddle Kenyans with more debt through the fuel levy, aiming to borrow billions more under his controversial securitisation strategy.
Premium Article
Get Full Access for Ksh299/Week.
Uncover the stories others won't tell. Subscribe now for exclusive access.
Kenya’s record fuel price hike has exposed deep cracks in the government’s G-to-G fuel import system.
The government’s determination to widen the tax base reflects an attempt to curb excessive borrowing and restore fiscal stability.
Kenya’s fuel crisis has exposed major weaknesses in the G-to-G fuel deal amid soaring prices and supply disruptions.
Kenya omitted funding from the IMF in the budget starting July in the wake of uncertainty whether fresh talks could unlock…
Energy CS Wandayi defends sharp fuel price hike, cites volatility in global market prices and uncertainty in petroleum supply,…
The move could set a new precedent, reducing Nairobi’s reliance on US currency while meeting Beijing’s goal of increased trade…
Taxpayers’ Sh448m annual burden in running Uhuru, Awori, Kalonzo offices
