Kenyan Banks Advocate for Reduction in PAYE Tax - May 2026

Kenyan banks are advocating for a reduction in Pay As You Earn (PAYE) tax, believing it will boost the economy, generate employment, and alleviate financial burdens on households. Meanwhile, Co-operative Bank of Kenya has announced a record-breaking pre-tax profit for the first quarter of the year, posting Sh11.4bn Q1 pre-tax profit, marking a significant financial achievement for the lender. Separately, minority shareholders at Scangroup are planning to oust the current board of directors at the upcoming June AGM.