600 CEOs Send Ruto a Clear Message as Businesses Demand Tax Cuts and Cheaper Loans

More than 600 chief executive officers of private-sector companies in Kenya have urged President William Ruto’s administration to lower taxes and interest rates, citing the high cost of doing business as a major obstacle to growth and investment.

The demand was captured in a September 2026 survey report released by the Central Bank of Kenya (CBK), which outlined measures business leaders believe could ease financial pressure on companies and improve the operating environment.

The executives want the government to reduce licence fees, simplify regulatory requirements and lower production costs. They argue that making it cheaper to operate would allow businesses to expand, create jobs and compete more effectively.

Access to affordable credit also emerged as a major concern. The CEOs proposed cheaper loans, simpler application procedures and flexible repayment terms, particularly for small and medium-sized enterprises struggling to secure financing.

According to the survey, 26.7 per cent of respondents said accessing bank loans was difficult or very difficult. They pointed to strict collateral requirements and lengthy approval processes as key barriers to borrowing.

The report further revealed that 53 per cent of the surveyed firms relied on their own resources to finance operations in September 2026, while 28 per cent depended primarily on bank loans.

On taxation, the business leaders called for predictable policies and consultations with the private sector before the government introduces new measures that could affect companies.

They also proposed harmonising national and county licensing requirements to eliminate overlapping regulations, reduce bureaucracy and speed up import clearance.

High electricity costs and infrastructure challenges were other issues raised in the report. The executives want more reliable power, improved transport networks and better digital infrastructure to help lower production expenses.

The CEOs also called for stronger action against corruption, respect for the rule of law and reduced government waste. They argued that consistent development policies beyond election cycles would provide businesses with greater certainty.

The report noted that geopolitical tensions were also affecting business operations, reinforcing calls for lower costs and better access to financing to help companies withstand external economic shocks.

https://www.kenyans.co.ke/news/128728-600-ceos-push-tax-cuts-lower-interest-rates-boost-businesses

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