Kenya

The Kenya Revenue Authority (KRA) is set to introduce a new tax system that will monitor crypto transactions in real time to maximize and perfect their tax program.

The Central Bank of Kenya (CBK) announces the granting of authority to JPMorgan Chase Bank N.A. of the United States of America (USA) to establish a Representative Office in Kenya by the name JPMorgan Chase Bank N.A. Representative Office Kenya.

The Kenyan shilling has appreciated by 17% year-to-date against the US dollar, as the Central Bank of Kenya (CBK) reduced its benchmark interest rate for the second time in a row, following a significant decline in inflation.

The Central Bank of Kenya (CBK) has cut the benchmark interest rate by the largest margin since the start of Covid-19 economic hardships in March 2020, signalling relief for borrowers saddled with costly loans and reversing a slowdown in demand for credit.