This archive report was first published on 22 September 2019.
On September 22, 2019, Kenya's Finance and Planning Committee made a significant move by supporting a proposal to exempt green bonds from withholding tax.
The committee's decision was based on the belief that tax-exempt green bonds will not only encourage more people to invest in the market but also lead to sustainable job creation and a new revenue stream for the government.
According to research by Strategic Business Advisory in partnership with Kenya Bankers Association, Kenya is expected to have a demand for climate-friendly bonds amounting to Sh91 billion in the next five to ten years.
By exempting green bonds from withholding tax, the government aims to boost Kenya's green finance sector and make it more attractive to investors.
Related articles include the approval of Kenya's first green bond and the Central Bank of Kenya's proposal to exempt green bonds from tax.
