KRA unlocks tax breaks for Naivasha industrial park

Author: John MutuaPublished on: June 11, 2026Country: Kenya

Business & Economy

KRA unlocks tax breaks for Naivasha industrial park

The Kenya Revenue Authority (KRA) has designated the KenGen Green Energy Park in Naivasha as a customs-controlled area, unlocking tax breaks for businesses operating there. Companies enjoy a reduced corporate tax rate of 10% for the first 10 years, VAT exemptions, and duty-free imports. Five investors, including Synergetic Development Group and AquilaStar, have signed deals to set up in the facility. KenGen CEO Peter Njenga hailed the move, cementing the park as Africa's foremost geothermal-powered industrial hub.

Stay informed with NewsBoulevard

Get the latest news summaries delivered to your inbox

Related News

Can Africa turn its population boom into prosperity?

Business & EconomyWorld / InternationalSouth Africa

Aaliyah Vayez•27m ago

Can Africa turn its population boom into prosperity?

Africa's population, currently 1.6 billion, is projected to reach 2.5 billion by 2050, according to the UN. By 2040, the continent's working-age population may exceed that of India and China combined. However, structural weaknesses persist, including rapid urbanization and governance challenges, as foreign investment retreats.

Stock markets surge as Trump calls off strikes on Iran, touts peace deal

Business & EconomyWorld / InternationalUnited States

John Power•27m ago

Stock markets surge as Trump calls off strikes on Iran, touts peace deal

Global stock markets surged after US President Donald Trump announced he called off planned strikes against Iran and said a peace deal is imminent. The S&P500 rose nearly 1.8%, the Nasdaq 2.5%, and the Dow Jones 1.9%. In Asia-Pacific, South Korea's KOSPI jumped over 8%, Japan's Nikkei 4%, and Taiwan's TAIEX 2.4%. Brent crude fell about 1% to below $89.50 a barrel on hopes for a reopening of the Strait of Hormuz. Trump stated a 'great settlement' of the war with Iran could be signed as soon as this weekend, but Iran has not publicly confirmed.

Agricultural insurance to be offered separately amid rising climate risks

Business & EconomyKenya

Kabui Mwangi•1h ago

Agricultural insurance to be offered separately amid rising climate risks

The Kenyan government has proposed a major overhaul of the agricultural insurance market by creating a standalone class of underwriting business targeting risks unique to the farming sector. In his budget speech, Treasury Cabinet Secretary John Mbadi announced amendments to the Insurance Act to formally establish agricultural insurance as an independent category. This reform aims to strengthen the regulatory framework for agricultural risk management and support food security, financial inclusion, and sustainable agricultural development. Currently, agricultural insurance products are largely housed under general insurance business despite carrying significantly different risk characteristics.

Stay Updated with NewsBoulevard

Subscribe to our newsletter for the latest news summaries delivered to your inbox

Learn more