@BdAfrica

Shady parallel economy where tax-free billions roam - 4 months ago, 10 Oct 10:26

Patrick Alushula

Rohinton Mistry an Indian-born Canadian writer may have had Kenya in mind when he wrote in his 2001 novel, Family Matters: “Black money is so much a part of our white economy, a tumour in the centre of the brain — try to remove it and you kill the patient.”

Since the partnering of the Kenya Revenue Authority, the Kenya Bureau of Standards and Anti-Counterfeit agency to stamp out a secret economy run by powerful individuals out to cut corners, a lid has been lifted offering a sneak preview into the shadowy dealings estimated by the Kenya Association of Manufactures at Sh200 billion.

Usually described by government officials as cartels, they are roaming free in almost all sectors of the economy jeopardising the effectiveness of policy planners.

Illegal imports are circulating freely in the economy, many companies are facing survival battles and standards of goods having been compromised as some of the very ...
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Category: business markets news lifestyle opinion corporate economy

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