Business & Economy
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State to Double e-Citizen Convenience Fee to Sh100
The Kenyan government plans to double the e-Citizen convenience fee, introducing a tiered system based on service cost, despite previous legal challenges and concerns raised by the Auditor-General. Treasury has also proposed new regulations that could eliminate convenience fees for transactions below Sh100 on the eCitizen platform, a move aiming to make government service payments more accessible. However, conflicting proposals also include significantly increasing transaction fees for certain government payments, creating uncertainty about the final fee structure.
Kenya's Industrial Growth Slowed by Weak Infrastructure, Skills Gaps
A new report by the Business Council for Africa reveals that Kenya's industrial growth is significantly hampered by inadequate infrastructure and a shortage of skilled labor. Despite strengths in digital finance, the nation lacks fundamental supports for manufacturing. Meanwhile, contractors involved in Kenya's Affordable Housing Programme are projected to earn Sh86.5 billion in profits, a figure significantly higher than international standards for taxpayer-funded projects. Additionally, Kenya is experiencing a fuel crisis, with the Ministry of Energy and Petroleum attributing supply disruptions to technical and administrative issues while defending the decision to reintroduce higher-sulphur fuel.
Shell Profits Rise as Iran War Pushes Oil Prices Higher
Oil giant Shell has reported a significant profit increase for the first quarter of the year, driven by elevated oil prices stemming from the Iran war. A recent conflict involving Iran has severely impacted Gulf economies, with an attack on Qatar's main LNG complex causing significant disruption and financial loss. Meanwhile, holidaymakers are being reassured that flights to and from the UK are largely unaffected by soaring jet fuel prices, despite a global cut of 13,000 flights in May.
