36th Edition

Good Afternoon folks! 😁😁

Delighted to have you here. And if you joined us this week, it’s great to finally connect with you… so here we go!

Welcome to The Friday Briefing, your weekly brief on geopolitics.

This is our 36th edition. It’s still a bit of a test, so if something does go wrong be sure to let us know… but anyway, we plan to send out your brief every Friday lunchtime 12pm GMT.

Our goal is to provide you with a balanced and insightful overview, allowing you to stay informed without being overwhelmed with information. But above all, we understand the value of your time. With our summaries, you can quickly grasp the major events shaping our world, deepen your understanding and be on your way in no time!

Our starting point…yes…Africa, but our vision extends beyond the boundaries of a single continent.

Oh don’t forget, feel free to leave behind any feedback, suggestions or further ideas you would like us to run with 🙂 

^{Why Africa? maybe because we don’t hear much…}

Back in 2013, the 42nd President of the United States tweeted the above tweet, “Just touched down in Africa…” ⬆️

Although Mr Clinton’s tweet was true, despite the brazen mistruths our leaders spout these days, he nonetheless could’ve worded it a lot better.

But the tweet tells us a lot more. It exposes an attitude that many of us may have towards Africa, either through ignorance or laziness or maybe because we don’t hear enough about African countries in our national news media.

This is a continent as diverse as it is complex, a continent home to over 1.4 billion people and 54 countries, making it the second-most populated continent in the world.

Events in Africa aren't isolated, they hold global importance too. Political transitions, economic developments and conflicts in Africa have ripple effects that stretch far beyond its borders.

And yes, while we begin with Africa, we’re dedicated to expanding our weekly round-ups to other continents in due course, taking our mission to new frontiers by connecting the dots between nations and continents.

So stay tuned! 👌

^{So, what’s been happening this week?}

• Kenyan President William Ruto will not sign “Finance Bill” after deadly protests

• What is the “Finance Bill” about?

^{What does this mean?}

Kenyan President William Ruto said he would not sign into law a finance bill proposing new taxes that prompted and led to thousands of protesters to storm the parliament, leaving dozens dead as police opened fire.

The government intended to raise funds to pay off debt, but the Kenyan people made their voices heard and said the bill would have caused more economic pain as millions struggle to get by.

However, despite backing down, the President called the actions of protestors “treasonous.”

Following weeks of deliberations, the proposed bill caused widespread dissatisfaction causing the president major setback. President Ruto came to power vowing to help Kenyans cope with rising costs but has seen much of the country, unite in opposition to his latest attempted reforms.

It was only a few weeks ago when the President was welcomed to the White House by President Biden. Weeks later, the White House’s national security spokesman John Kirby, urged the Kenyan government to exercise “restraint” so that no further Kenyans are put in harm’s way while exercising their right to peaceful public assembly.

What is the Finance Bill about? 🤔⬇️

The bill can be divided into two, the original bill and latest bill. The original bill contained:

• Taxes on Basic Necessities

A 16% sales tax was on bread and 25% duty on cooking oil. There was also a proposed increase in the tax on financial transactions as well as a new annual vehicle ownership tax of 2.5% of the value of the vehicle.

However some aspects of the “taxes on basic necessities” was dropped following discussions with members after public opposition.

• The Eco Levy

A tax on products that contribute to waste and harm the environment was another key aspect of the bill. However critics said it would increase in the cost of essential sanitary pads, with many girls already unable to afford such products.

The government also intended to include mobile phones, cameras and recording equipment in the new levy.

However, both the basic necessities and eco tax were either dropped or amended.

Latest Bill contained the following:

• Levy on Private Hospitals

A 16% tax on goods and services for the direct and exclusive use in the construction and equipping of private specialised hospitals with a minimum bed capacity of 50.

• Import Tax

An increase rate of import tax from 2.5% to 3% of the value of the item.

Did you know…

Mr Ruto’s announcement comes after Kenya is facing severe economic challenges including high levels of inflation and rising levels of debt.

Mr Ruto came into office in 2022 after beating his rival Mr Odinga.

^{Book of the week…. DEAL IN THE WORKS!}

The idea is every week we will hold a poll on our social media pages, asking our readers to recommend a book for the week…

STAY TUNED!

You’re done for the week. Follow us on our socials and see you next Friday!