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- Govt Services Whose Fees Have Risen by up to 10x
Govt Services Whose Fees Have Risen by up to 10x
Plus proposed hikes in land fees by up to 100x, highlights from the State of the Nation Address and a temporary High Court relief.
Eric Ndubi
November 10, 2023
Welcome to our 12th Money Weekly Roundup of 2023. This week, Kenyans are coming into terms with a future characterised by significantly more expensive government services, an unrelenting increase in fuel prices even as President William Ruto’s inaugural State of the Nation Address signals Kenyans need to tighten their belts in preparation for a time of hard choices.
Below, as we do every Friday on Money Weekly, we break down for you the top money news from the last seven days that may have an effect on your pocket.
⚖️ Relief from High Court: Temporary respite for Kenyans as the tenfold increase in the cost of government services is suspended. Among the affected services include ID card processing and renewal, passports, birth and death certificates, as well as marriage certificates, work permits for foreigners and the registration of children born to Kenyans outside the country. 📜
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🏡 Land Fees Surge: Prospective home and land owners brace yourselves! The Ministry of Lands is planning an up to 100x increase in fees for land-related transactions. Search, transfer, and title deed issuance are among the services to be affected by the fee hike. 💼
📉 Layoffs hit Covid-19 levels: Job cuts in Kenya have now reached a level reminiscent of job losses registered at the height of the pandemic, reports show. Posta Kenya, for example, is eyeing 500+ layoffs, and Base Titanium is set to shut operations by 2024 affecting close to 1,000 employees 🧑💼🧑💼. Read More.
💰 Cash Flow Woes: Treasury CS, Njuguna Ndung’u says the country is facing a serious cash flow crisis, exacerbated by a weakening Kenyan shilling. “But I want to assure the country that we are not facing an insolvency crisis,” he told the Finance and National Planning Committee this week. 🏛️
🚗 Fuel Fears in Kenya: Treasury CS Davis Chirchir made a worrying statement this week suggesting that the ongoing Israel-Hamas conflict may spike fuel prices in Kenya to Ksh300. Currently, in Nairobi, Petrol is retailing at Ksh217.36/litre. 📈
Here’s what happened in the news this week:
Key Govt Services Whose Cost Has Gone Up - Money254 Weekly News Roundup
CBK Cautions Against Unlicensed Money Transfer Services - Citizen Digital
MPs Push for Review JKIA Tax on Personal Items to Ksh1.5M - The Star
Peach Cars: Used-Car Marketplace Helping Buyers Avoid Scammers - Money254 Review
Govt Defends Plans to Lease Mombasa, Lamu Ports - The Standard
SGR Fully Booked Ahead Of Christmas Celebrations - Capital FM
Higher Tax for Traders Without Digital ETRs - Business Daily
This week’s finance tips
A selection of our editorial team’s favorite tips and articles from across Money254, curated just for you.
 | When deciding where to keep your money, do you factor in your goals, risk tolerance, and overall financial well-being? Read more |
 | Friends, like family, shape who we are and who we will become. And when it comes to your money, friends can be a huge influence. Read more |
 | Loans are one way of building wealth using “other people’s money”. Knowing the do’s, don’ts and what to look out for, can help you take advantage of credit better. Read more |
 | Financial stress is the emotional strain that is primarily linked to money. Without the right coping mechanisms, we could easily dig ourselves deeper into trouble. Read more |
That’s a wrap for this week’s Money Weekly! We’d love it if you could give us feedback on our new design using the poll below. Also, don’t forget to download the Money254 App on the google play store and remember that we can help you compare over 300 loans, savings accounts, current accounts, and more if you’re thinking about your next product.
Sincerely,
Eric and the Money254 editorial team.
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