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KRA Revenue Collection for FY 2023/24 Rises 11% to Ksh 2.4 Trillion, Misses Target

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The Kenya Revenue Authority (KRA) has fallen short of its ambitious tax collection targets for the 2023/2024 fiscal year.

Despite an 11.1% increase in overall revenue to Ksh 2.407 trillion, KRA failed to reach its target, leaving policymakers and industry stakeholders concerned about the underlying factors driving this underperformance.

A closer examination of the data reveals widening cracks in the economy, with several key sectors—including manufacturing, finance and insurance, and information and communications technology (ICT)—experiencing significant declines in their tax contributions. These sectors also faced reduced corporate profits and job cuts during a period marked by the depreciation of the shilling and high energy prices.

According to the Authority, these factors affected revenue mobilization efforts.

“KRA collects revenue on behalf of other government agencies, mainly at the ports of entry. These include the Road Maintenance Levy, Air Passenger Service Charge, Aviation Revenue, Petroleum Development Fund, Petroleum Regulatory Levy, and Housing Levy, amongst others,” the statement read.

KRA aimed to collect Ksh 2.768 trillion by the end of the financial year 2023/2024, a target which was later revised downward to Ksh 2.5 trillion. Ultimately, KRA missed both targets.

In December 2023, KRA cited the significant depreciation of the Kenya shilling against the US dollar by 24.7% in November 2023 and 22.0% from July to November 2023 as major challenges.

On Monday, KRA reported that during the financial year ending June 30, 2024, it collected agency revenues amounting to Ksh 184.036 billion, reflecting a growth of 34.9% compared to the last financial year.

KRA added that during the financial year, Domestic Taxes registered a revenue growth of 14.4%, collecting Ksh 1.611 trillion against a target of Ksh 1.677 trillion, translating to a performance rate of 96.1%.

KRA reported that domestic VAT collection stood at Ksh 314.157 billion against a target of Ksh 307.823 billion, reflecting a growth of 15.3% compared to the previous year.

The Authority said Pay As You Earn (P.A.Y.E) registered a growth of 9.7%, collecting Ksh 543.186 billion.

As of June 30, 2024, a total of 8,046,029 tax returns were filed, against a target of 7,187,932, representing a growth of 26% compared to the 6,385,523 tax returns filed last year.

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Books and Films

Paramount Outbids Netflix in Bid War in ‘Hostile Takeover’

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Paramount Skydance, simply known as Paramount, raises $108.4 billion, which is $25.7 billion more than what Netflix, in the WBD bid war. All this is to be paid in cash.

Even though Netflix is involved in a bidding war with two other networks, Warner Bros. Discovery has an obligation to choose the best deal of all.

The Warner Bros. Discovery Race

Netflix, which is already a giant in the industry, is making waves as entertainment bodies and the public are critical of how much power the potential purchase of WBD would confer.


Still, it is anyone’s game. Netflix can leverage a higher amount than Paramount, Skydance, or Comcast. Or the other bidders can overtake the two finalists totally.


Unlike Netflix, Paramount is offering directly to shareholders, while Netflix took a different approach and appealed to the WBD board of directors.

Paramount Skydance vs. Netflix 

Paramount took this hostile approach after being rejected at first. This comeback outshines Netflix’s offer of $27.75 per share by an increment of $2.25, which puts Paramount at $30 per share.


It is a tricky decision for Warner Bros., as choosing Paramount over Netflix will incur the company a $2.8 billion breakup fee, which can be easily covered from the gross cash earnings from Paramount Skydance’s bid.

No more cinema?

The competitive bid did not move Netflix co-CEO Ted Sarandos, and he is extremely confident that his company’s 82$ billion deal will take. Netflix is revered as the No. 1 streaming service worldwide; if HBO (which is 3rd in that order) becomes one of its assets, what does that mean for entertainment as a whole?


Paramount CEO David Ellison stated that it would be bad for business. He pointed out the Hollywood movie industry as we know it. On the WBD-Netflix deal, Ellison had this to say:

It’s bad for the consumer, it’s bad for the creative community… We’re sitting here trying to save it”

Find more content like this and much more on our WhatsApp channel: https://whatsapp.com/channel/0029VaeJgVo89inf3IhwHT2t

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Business

Keeping Girls in Class, One Dance Step at a Time: the Change For Girls Initiative

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One conversation, one dance and one safe space at a time, the lives of girls are being transformed. The Change for Girls Initiative, founded by Lillian Nkonge in March 2024, is on a mission to keep more girls in school by addressing the social, mental, and economic challenges that often lead them to drop out. The initiative is particularly focused on girls from under-resourced and rural areas, and it aims to support 300 girls through school by 2028 by creating safe, girl-centered spaces and sustainable solutions to education access.

On Saturday, 26th July 2025, the initiative brought its impactful Dance 2 Educate program to Materi Girls High School in Tharaka-Nithi County. This unique mentorship event took a creative approach, using dance, fitness, and storytelling to open up conversations around mental health and self-esteem. The goal was simple but powerful: to give the girls a space where they felt seen, heard, and free to express what they’re going through.

Models from Materi Girls

The session was guided by school alumni, peer counsellors, the school’s guidance counsellor, and mental health advocates who also doubled as the dancers. These advocates were brought in through key partners including Jamii Vibes, Dance Klan, Brachuze Dance Agency, Katika Dance Fitness, and many others, whose presence brought both energy and emotional safety. Their relatability made it easier for the students to connect.

After an energetic fitness and dance session, the girls broke into small groups where they were encouraged to talk openly about their emotional well-being. Many spoke courageously about struggles they had been silently carrying, ranging from pressure to perform, to stress, anxiety, and family-related challenges. What stood out was the strength in vulnerability, and how safe, creative environments can unlock deeply personal, often unspoken experiences.

The initiative’s founder, Lillian Nkonge, is a woman of many hats one of them being, a policy and programming expert in sexual and reproductive health across Africa. Her vision for Change for Girls was inspired by years of working with youth in community and health spaces, witnessing the complex barriers that prevent girls from reaching their full potential.

Lillian Konge, Founder CFG

Since launching the initiative in 2024, she and her team have hosted the Dance 2 educate mentorship programs in Greenland Girls Highschool in Kajiado and now in Materi Girls in Tharaka-Nithi, with the next public event scheduled to take place at Carnivore Grounds, Nairobi on 8th August 2025. (For more information on this, click HERE

Parents Africa was proud to be part of this transformative event. As a platform that cares deeply about the wellness of families and youth, we joined the initiative to amplify the voices of girls and to add a parental perspective to the conversation. Our presence allowed us to document the day and highlight the power of mentorship, community, and safe spaces in promoting youth wellness and resilience.

Change for Girls is more than just a nonprofit, it is a growing movement rooted in empathy, lived experience, and actionable hope. By combining mentorship, creativity, and meaningful engagement, the initiative is giving girls the tools they need not just to survive school, but to thrive.

 

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Business

Creating an entrepreneurial ‘Boss Baby’

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Imagine your child not just dreaming big, but also taking steps towards turning those dreams into reality. In a world where innovation drives success, raising entrepreneurial kids isn’t just about teaching business skills- it’s about nurturing creativity, resilience and a fearless approach to challenges.

Parents hold the power to inspire and guide our children to think boldly, act confidently, and carve out their unique paths. This journey begins at home, where curiosity meets opportunity. But what can you incorporate to achieve this?

Utilize family game nights

Turn your regular game nights into a business boot camp! Board games like Monopoly can teach kids about resource management, investment and strategic planning. Make the games both competitive and rewarding to keep their interest piqued. You can even create your own family business challenges, where kids pitch ideas, develop business plans and present their concepts for a small prize. 

Business basics

Introduce children to the basics of business by encouraging them to set up their own little enterprise, like a lemonade stand.

You should let them handle the planning; from choosing the perfect spot to pricing their product and marketing it to the neighbors. 

This simple business venture teaches them the fundamentals of business management, budgeting and customer service which is a must-have in the current business world.

Allowance 

Instead of a regular allowance, consider giving your children a “salary” for chores, complete with opportunities for bonuses based on performance and “overtime” for extra tasks. 

This approach not only makes household chores more engaging but also introduces concepts like work ethic, money management and responsibility.

Discuss budgeting, saving and the basics of investing with their earnings to deepen their financial understanding.

Business matters, why?

Teaching business skills at home is about more than just future-proofing your kids’ careers; it builds confidence, nurtures creativity and promotes problem-solving. 

It prepares them to think critically, make informed decisions while understanding the value of hard work. 

By nurturing an entrepreneurial mindset in your children, you are not just preparing them for a successful career-you’re equipping them with life skills that will serve them in every aspect of their journey. As you guide them along this path remember that the seeds you plant today will grow into the innovators, leaders and changemakers of tomorrow.

So, roll up your sleeves, get creative and watch as your home turns into a thriving hub of budding entrepreneurs. 

Who knows? The next big idea might just come from your living room!

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