Over 1,000 Chief Executive Officers (CEOs) have expressed concerns over the government's abrupt changes in tax structures and policies, warning that such unpredictability could hinder Kenya's expected economic growth in 2025.
In a survey conducted by the Central Bank of Kenya (CBK) and published on Tuesday under the CEO's Survey, business leaders shared recommendations to the government urging its head to create certainty around taxation.
The CEOs, primarily drawn from key private sector organizations, including the Kenya Association of Manufacturers (KAM), the Kenya National Chamber of Commerce and Industry (KNCCI), and the Kenya Private Sector Alliance (KEPSA), argued that frequent changes to tax structures create uncertainty, dampening investor confidence and economic growth.
The concerns came following projections by the chief of companies over the possibility of an economic turnaround that could see the country create more jobs for its citizens.
