The Kenya Revenue Authority (KRA) has interdicted six staff members and suspended 21 clearing agents in connection with a Sh452.2 million fraud scheme involving irregular cargo clearance.

• The scheme involved attempts to bypass customs procedures, leading to the release of consignments without full tax compliance.
• Kenya Revenue Authority (KRA) is leading the investigations.
• The amount was recovered following internal reviews and enforcement action, and criminal investigations have been initiated by the Directorate of Criminal Investigations.

The World Bank has banned three PricewaterhouseCoopers (PwC) firms in Kenya, Rwanda, and Mauritius from its projects for 21 months due to fraud and collusion.

• The firms are implicated in misconduct related to the Eastern Electricity Highway Project in Ethiopia.
• The affected entities are PwC Kenya, PwC Rwanda, and PwC Associates Africa Ltd.
• They are accused of obtaining confidential procurement information in 2019 to improperly influence the award of consultancy contracts.

A new report by Tala reveals that approximately one in five Kenyans are experiencing a significant rise in their cost of living, with over 20 percent reporting an increase in the past six months.

• 59 percent of Kenyans are now utilizing savings through banks and 'chamas', an increase from 56 percent last year.
• Tala Kenya, a digital lender, notes that 91 percent of Kenyans borrow from digital lenders, up from 87 percent previously.
• More Kenyans are turning to entrepreneurship, with business ownership growing by eight percentage points, while fewer salaried workers are taking on side hustles.