Hello and welcome to the Money Weekly Newsletter, where we are covering the deal between the government and matatu operators to end the strike.

But first, a word from Hakki Africa.

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Matatus Call Off Strike After Govt Makes 7 Promises

Matatu operators called off the nationwide strike after President William Ruto’s administration pledged seven measures, including a diesel price reduction set to take effect from June 14.

Promise 1: Diesel prices will be reduced by Ksh10 from Ksh232.86 to Ksh222.86 in the June/July pricing cycle.

Promise 2: The first 100,000 electric vehicles imported into Kenya will be duty-free, including privately owned units.

Promise 3: NTSA will facilitate an enabling environment for matatus to continue using artwork and graffiti after operators were ordered to remove graffiti from PSVs. In April, the High Court upheld the ban.

Promise 4: Ministry of Transport to engage financial institutions and banks to offer temporary relief on lending terms to matatu owners. 

Promise 5: There shall be an immediate review of the Insurance Act and Auctioneers Act to conclude within 3 months to establish a more responsive framework 

Promise 6: NTSA to engage transport network companies and taxi drivers to implement regulations that will introduce minimum taxi fares to cushion operators in the sector amid high fuel prices.

Promise 7: The Ministry of Transport to work with the Insurance Regulatory Authority (IRA) to address concerns relating to insurance claims affecting PSVs. 

On Monday and Tuesday, the transport stakeholders undertook a nationwide strike, leaving Kenyans stranded. This was after EPRA increased diesel prices by Ksh46.92 to Ksh242.92 per litre in Nairobi.

After the protests, EPRA reduced diesel prices by Ksh10.06 per litre to Ksh232.86.

Here is a quick recap of the top news stories for the week:

• KRA will now allow businesses and individuals to claim expenses without supplier PINs or compliant eTIMS receipts when filing their 2025 returns. The latest change is aimed at enhancing compliance ahead of the June 30 tax filing deadline. KRA noted that many businesses and individuals were struggling to claim legit expenses that were eTIMS non-compliant, as most informal businesses do not issue the receipts. This includes expenses such as matatu fares or purchases from farmers. Read more on how to claim expenses using non-compliant eTIMS receipts.

• Meanwhile, KRA collected Ksh7.8 billion this year from 97,000 individuals and businesses that had never paid direct taxes before. The taxman said the growth has been driven by digitisation and improved tax monitoring systems targeting the informal sector. As part of its compliance efforts, KRA is shifting from manual tax collection to a real-time digital revenue administration model focused on expanding compliance.

• Uganda is set to gain significant influence over fuel transportation and storage charges on Kenya Pipeline Company (KPC) infrastructure after investing Ksh34.7 billion in the firm’s IPO, securing a 20 per cent stake. Uganda will have a say in the review of fuel transport tariffs, approval of dividend policies, and key management decisions, including the hiring and firing of the KPC CEO. Kampala will also influence employee restructuring programmes within the first three years after the company’s listing.

• Kenya has fallen to the seventh-largest economy in Africa after Angola overtook it in the latest IMF rankings. Kenya’s GDP increased from Ksh18.14 trillion (USD 140 billion) in January to Ksh19.1 trillion (USD 147.26 billion). However, Angola moved ahead with a GDP of Ksh19.74 trillion (USD 152.35 billion), reclaiming the sixth position. 

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KRA Changes Tax Filing Procedure Ahead of June Deadline

If you have been struggling to file your 2025 tax returns because your suppliers didn't issue eTIMS receipts or won't share their KRA PINs, KRA has just made a change that directly affects you.

The taxman has updated the iTax platform, allowing one to use non-eTIMS-compliant receipts when filing 2025 tax returns. Watch the video to learn more.

@money254hq

KRA Changes Tax Filing Procedure Ahead of June Deadline If you have been struggling to file your 2025 tax returns because your suppliers d... See more

That’s a wrap for this week’s Money Weekly!

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