We value your privacy

We use cookies to enhance your browsing experience, serve personalized ads or content, and analyze our traffic. By clicking "Accept All", you consent to our use of cookies. Cookie Policy

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Friday, August 8, 2025
Africanian
No Result
View All Result
  • Home
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
Africanian
  • Home
  • News
  • News 24/7
  • Politics
  • Business
  • Health
  • Sports
  • Travel
  • World
    • US
    • Russia
    • Europe
    • Asia
    • America
  • Events
No Result
View All Result
Africanian
No Result
View All Result
Home Business

Kenya Adopts Austerity Measures to Tackle Economic Challenges

These measures aim to secure the completion of crucial infrastructure projects in the country

Kenya Adopts Austerity Measures to Tackle Economic Challenges
Share on FacebookShare on TwitterShare via Whatsapp

In a bid to address the economic challenges exacerbated by global shocks and a domestic slowdown, Kenya is implementing austerity measures to rescue its economy. The warning of a looming debt crisis issued by the Kenyan national treasury in September 2023, attributed to global factors such as the lingering effects of Covid-19, has prompted the government to take decisive actions.

Read More: Lithium Mining Boom in Africa Raises Alarms Over Environmental Impact

Protests have erupted among the Kenyan population due to the rising costs of essential commodities, including food and petrol. The opposition party leader, Raila Odinga, added fuel to the fire by leading cost-of-living protests in the lead-up to the presidential elections, ultimately won by President William Ruto. In response to the economic strain, the government has initiated spending cuts, including the reduction of official trips and efforts to trim its growing debt.

To alleviate financial pressure, particularly on citizens, the government has imposed additional taxes. These measures aim to secure the completion of crucial infrastructure projects in the country. Despite the challenges, the government announced that it has successfully garnered $13 billion in investment opportunities and grants, primarily from the UK, the U.S., and China, according to Capital FM.

Read More: African Finance Summit Explores Challenges and Opportunities in Togo

President Ruto assured the nation that Kenya has taken positive steps to address the debt distress. As part of this effort, the country plans to make a $300 million payment in December 2023, targeting the $2.0 billion Eurobond maturing in June 2024. The government’s commitment to financial responsibility and its pursuit of international support reflect a determined approach to stabilize and revitalize the Kenyan economy amidst challenging circumstances.

RelatedPosts

Nigeria doubles revenue, drives $6B investment growth

Nigeria doubles revenue, drives $6B investment growth

August 8, 2025
Eritrea transforms rural landscape with community dams and water resilience

Eritrea transforms rural landscape with community dams and water resilience

August 5, 2025
Africa honours its leadership for peace

Africa honours its leadership for peace

August 1, 2025
Nigeria launches Oyo Agro-Industrial Hub to drive inclusive rural development in Africa

Nigeria launches Oyo Agro-Industrial Hub to drive inclusive rural development in Africa

July 31, 2025
Tunisia’s energy transformation: How natural gas is powering industry and cleaner living

Tunisia’s energy transformation: How natural gas is powering industry and cleaner living

July 30, 2025
Lifelong Learning in Africa: The Silent Revolution Shaping the Continent's Future

Lifelong Learning in Africa: The Silent Revolution Shaping the Continent’s Future

July 30, 2025
Humanity Has Exceeded Earth's 2025 Resource Budget: What It Means for Africa and the Planet

Humanity Has Exceeded Earth’s 2025 Resource Budget: What It Means for Africa and the Planet

July 25, 2025
Liberia launches youth bank that will create 120,000 jobs and fund 30,000 businesses.

Liberia launches youth bank that will create 120,000 jobs and fund 30,000 businesses.

July 25, 2025
Angola: Clementina Artur will no longer walk to the river every morning with an empty container

Angola: Clementina Artur will no longer walk to the river every morning with an empty container

July 24, 2025
Africanian News Is a dedicated project aimed at amplifying the voices of the African Ecosystem and Diaspora. We actively collaborate with initiatives to improve access to education and digital inclusion, both in traditional schools and through digital platforms, for African children.

It’s crucial to emphasize that none of the articles or images featured on our platform are intended for copyright infringement, neither now nor in the future.

If you believe that any information, text, image, etc., may be subject to copyright and should be removed, please notify us by sending an email to: info@africanian.com

News Categories

  • America (39)
  • Asia (129)
  • Business (1,184)
  • Culture (184)
  • Destinations (52)
  • Entertainment (53)
  • Environment (5)
  • Europe (153)
  • Food and Drink (14)
  • Guides & Tips (20)
  • Health (621)
  • Hotels (4)
  • Meetings (26)
  • News (2,569)
  • Opinion Piece (11)
  • Politics (463)
  • Russia (73)
  • Science (63)
  • Sports (308)
  • Style (4)
  • Tech (317)
  • Trailers (2)
  • Travel (148)
  • US (107)
  • World (426)

Your dreams matter; your stories matter.

Feel free to explore collaboration opportunities with us. Share your articles, thoughts, interviews, experiments, or no-comment videos by reaching out to info@africanian.com.

You can also subscribe to our mailing list to receive the latest updates from Africanian News.

Newsletter

© 2025 Africanian News.

ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
en English

Log In

Sign In

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Back to Login

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Accept

Add to Collection

  • Public collection title

  • Private collection title

No Collections

Here you'll find all collections you've created before.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Health
  • Sports
  • Entertainment
  • Tech
  • Travel
  • World

© 2025 Africanian News.