Stop overtaxing companies FKE urges President Ruto

The Federation of Kenya Employers(FKE) have urged President William Ruto to stop overtaxing industries and Companies in Kenya, prompting high risk of  closure and migrate to the neighboring countries in East and Central Africa.

Speaking in Nakuru City during The FKE Regional Annual General Meeting  held at Waterbuck Hotel Executive Director Dr.Jacqueline Mugo said companies have employed millions of Kenyans and their closure will affect the livelihoods of those who directly depend on them.

Dr.Mugo said recent research survey conducted by FKE  indicated that many companies in Kenya are facing losses in their business operations, since President Ruto took power.

“The Employers in Kenya who are the members of FKE are facing many challenges since Kenya Kwanza government took power. Among other issues, companies face unpredictable over taxation, frequent unfavorable legislations and government policies which are negatively affecting the business operations,” said Dr.Mugo.

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She also said that according to the survey, over 500 companies showed that 65% of its constituents in Kenya are closing their business,18 per cent are not getting any profit while only 17 per cent of are slightly getting profit in their businesses.

“FKE Members therefore request the Kenya kwanza government under President Ruto to have legislations and government policies that create conducive environment for companies to operate in the country and enable them reduce the cost of production, and sustain the employment of millions of Kenya working in these companies,” she stated.

FKE suggested taxes reduction to enable companies to reduce cost of productions, stable business policies that create conducive environment for business to take place.

“FKE is requesting President William Ruto to secure employment of millions of Kenyans by having comprehensive reforms to reduce the Companies’ cost of production which will enable the companies to retain the employees,”said Dr.Mugo.

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The FKE Executive Director gave example of tea sector, floriculture sector, tourism sector, energy sector, manufacturing sector, and other sectors which she said have been affected by unfavorable government policies and high taxes.

She also accused County Government for skyrocketing land rates which have highly affected business operations.

“We request 47 Counties Government in Kenya to evaluate the land rates to enable companies operate without  getting loses, because high and rates makes the investors to migrate to other countries, hence causing loss of jobs o millions of Kenyans”, said Dr.Mugo.

Dr,Mugo was accompanied by The Managing Director East African Tea Trade Association George Muga,The FKE Rift Valley Regional President Kenneth Odire, the FKE Regional Coordinator Rift Valley Branch Richard Meli among other dignitaries.

BY PETER OTUORO

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