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Thursday, November 7

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Kenya’s investment landscape amid high taxes, weakening Shilling

Countries August 24, 2023

Businesses in Kenya are facing the impact of tightened monetary policy that is resulting in high lending rates.
The government is under increasing pressure from investors to settle huge pending bills.
At the same time, the Kenya Shilling is steadily losing ground against major world currencies, piling pressure on external debt obligations.

In the second half of the year, business optimism for companies and sectoral growth prospects in Kenya appears to be subdued, largely influenced by the dual challenges of high taxes and a weakening Shilling.

The government's task of balancing rising debt levels with tax revenue generation is taking center stage in a scenario complicated by other economic factors.

A confluence of high-interest rates within the banking sector, a politically sensitive environment, the accumulation of pending bills that impact private sector cash flow, and the depreciation of the Kenyan Shilling is painting a complex business environment.

The Shilling has…

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Kenya’s Pharmacy and Poisons Board (PPB) has approved the use of a prescription drug manufactured by Janssen, one of the pharmaceutical companies of Johnson & Johnson, for the treatment of prostate cancer. The local pharmaceuticals regulator has approved the use of Janssen’s once-daily medication ZYTIGA® (abiraterone acetate) for the treatment of metastatic castration-resistant prostate cancer ahead of a chemotherapy regime. The approval is expected to help boost ongoing efforts to minimise existing barriers to cancer care access in Kenya. Since its first approval in the U.S. in 2011, ZYTIGA® has been approved in combination with prednisone or prednisolone, in 105 countries.

Johnson & Johnson scores in Kenya’s fight against prostate cancer

Kenya July 22, 2019

Kenya’s Pharmacy and Poisons Board (PPB) has approved the use of a prescription drug manufactured by Janssen, one of the pharmaceutical companies of Johnson & Johnson, for the treatment of prostate cancer.

The local pharmaceuticals regulator has approved the use of Janssen’s once-daily medication ZYTIGA® (abiraterone acetate) for the treatment of metastatic castration-resistant prostate cancer ahead of a chemotherapy regime.

The approval is expected to help boost ongoing efforts to minimise existing barriers to cancer care access in Kenya.

READ ALSO:Kenya: Prostate cancer patients to get cheaper drugs

The prescription only innovator (non generic) oncological management drug is distributed locally by Janssen Kenya as part of the global pharmaceutical firm’s commitment to enhance access of essential drugs.

Speaking, when he confirmed the recent approval, Janssen Kenya Country Manager Marseille Onyango said prior to the approval, ZYTIGA had only been licensed for treatment of advanced prostate cancer cases post chemotherapy.…

Kenya's population has grown by 9.9 million people over the last ten years to reach 47.6 million. President Kenyatta says the current census results will guide successful planning and implementation of government development initiatives, including the Big Four Agenda.

Why majority of Kenyans are unhappy with the economy

Kenya May 21, 2019

Nine out of ten (87 per cent) of Kenyans are dissatisfied with the country’s direction on economic management, a survey has revealed, casting doubt on governments’ commitment to deliver on its promises.

The proportion of citizens who express dissatisfaction, according to a report released in Nairobi this week, has been increasing since 2016 when five out of ten citizens (53%) were unhappy.

Citizens are equally dissatisfied with the country’s direction on job creation (82 per cent) which again is higher compared to the past years, since 2016, when half of citizens (51%) were unhappy.

This is despite the Economic Survey 2019 by the Kenya National Bureau of Statistics (KNBS)-released in April-indicating the economy grew by 6.3 per cent in 2018 compared to 4.9 per cent in 2017, creating 840,600 new jobs.