N
Originally published by Nation Business
📰 Read Full Article
business
May 22, 2026
11h ago

Workers' purchasing power drops 12pc in five year

Workers' purchasing power drops 12pc in five year

Public employees continue to bear the brunt of the high cost of living...

✨ Key Highlights

Kenya's workers are experiencing a significant drop in purchasing power, estimated at 12% over the last five years due to rising taxes and the high cost of living.

  • Workers' purchasing power has declined by 10.7% to 12%.
  • The Kenya Bankers Association (KBA) is proposing a 5% reduction in Pay-As-You-Earn (PAYE) across all income tax bands.
  • Statutory deductions include the 1.5% Affordable Housing Levy, 2.75% Social Health Insurance Fund (SHIF), and higher National Social Security Fund (NSSF) contributions.

Continue Reading

Read the complete article from Nation Business

📰 Read Full Article
Advertisement
Advertisement