M-Pesa, Airtel Money can invest customer deposits under new Bill
Former CBK governor Patrick Njoroge is calling for an amendment of the payments regulations to enable the owners of the funds to earn a share of the returns generated by the deposits when they are invested in bonds and fixed deposit accounts.
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He should develop his own platform and go all the way, time is on his side and in building is how he will learn , make early mistakes and develop a solid ride or die team that learns what the ground looks like. Burden of united opposition is not his to bear.
#China says it sent #Kenya goods worth Sh1.3 TRILLION in 2025. @KRACorporate@KRACare recorded imports of only Sh672 billion. That leaves a Sh629 BILLION gap that DOES NOT appear in our books.
Over five years, the gap has grown to Sh2.76 TRILLION.
This cannot be brushed aside as a minor difference in paperwork. Kenyaβs import figures should generally be higher than Chinaβs export figures because imports are recorded on a cost, insurance and freight basis. Yet our recorded value is almost half.
That raises serious questions about UNDER-DECLARATION, mis-invoicing, customs valuation and POSSIBLE revenue leakage.
Customs is one of governmentβs BIGGEST revenue sources. If imports from our largest trading partner can fall through such a huge gap year after year, then Kenya DOES NOT simply have a revenue problem. We have a revenue LEAKAGE problem.
@KRACorporate and the @KeTreasury MUST explain this.
We need a full public reconciliation of Chinaβs export records and KRAβs import records for 2021 to 2025. We need effective data-sharing with Chinese customs, targeted audits of high-risk imports, and accountability for the systems and officials responsible for closing these gaps.
Kenyans are being told that the country needs more taxes because government has no money. But before taxing Kenyans more, close the holes through which their money is already escaping.
Kenyans are not poor. We are being taxed in a system that may be failing to collect what is already owed.
That is the issue. #GetitDone #ReKe
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