Treasury Secretary Ukur Yatani has said that personal loans account for more than half of the Sh360 billion worth of loans that have been restructured by workers and small businesses that need urgent help to survive the economic slowdown caused by the viral disease. The reviewed loans are equivalent to 12.86 percent of the lenders’ loan book of Sh2.8 trillion as at end of May, underlining the impact of the health crisis on the bank’s businesses and borrowers’ financial situation.

Business Daily Advertisement Ernst & Young sends 42 top managers home Monday, June 15, 2020 8:00 There are questions about the motivation of the head office to lay off the workers. Gitahi Gachahi Outgoing CEO Gitahi Gachahi. FILE PHOTO | NMG By NG'ANG'A MBUGUA More by this Author IN SUMMARY The firm‘s outgoing CEO Gitahi Gachahi said the firm has been performing well financially, raising questions about the motivation of the head office to lay off the workers.

The adjustment is in line with the law that demands excise duty be revised upwards in tandem with the cost of living measure or the average rate of inflation in the 12 months through June. Last year, the taxman adjusted excise duty by 5.17 percent on inflation, from 5.2 percent in 2018, and the Treasury expects the levy at about 5.3 percent. Reference:https://www.businessdailyafrica.com/news/New-tax-to-raise-beer--fuel--motorbike-prices/539546-5576488-view-asAMP-a9ydo5/index.html?__twitter_impression=true