600 Chief Executive Officers (CEOs) of private-sector companies in Kenya are calling for tax cuts and reduced interest rates on loans to help them cut operating costs, expand operations and remain competitive.
A September CEOs survey report released by the Central Bank of Kenya (CBK) found that business leaders want the government to reduce the cost of doing business and improve access to affordable credit, particularly for small and medium-sized enterprises (SMEs).
The CEOs proposed lowering licence fees, simplifying regulatory requirements and cutting production costs to reduce financial pressure on businesses.
They also called for cheaper loans, simpler application requirements and flexible repayment terms to make financing more accessible.
Central Bank of Kenya Headquarters along Haile Selassie Avenue, Nairobi CBD
Photo
REUTERS/Njeri Mwangi
According to the survey, 26.7 per cent of them described access to bank loans as difficult or very difficult, citing collateral requirements and lengthy approval processes as some of the barriers to securing financing.
The report further revealed that 53 per cent of the firms relied on their own resources to finance operations in September 2026, while 28 per cent identified bank loans as their main source of funding.
On taxation, the business leaders urged the government to introduce predictable tax policies and consult the private sector before implementing new measures.
They also called for better coordination among government agencies to prevent overlapping regulations and reduce the administrative burden on businesses.
The CEOs proposed simplifying the licensing process by consolidating national and county permits, reducing bureaucracy and speeding up import clearance processes.
The respondents further urged the government to lower energy costs and improve the reliability of electricity, transport networks and digital infrastructure, noting that these factors affect production costs and business operations.
The survey also highlighted concerns about governance, with respondents calling for stronger respect for the rule of law and more effective action against corruption.
The CEOs urged the government to reduce wasteful spending and pursue long-term development plans that continue beyond election cycles to provide businesses with a more stable operating environment.
Geopolitical tensions were also identified as a factor affecting businesses, with firms calling for measures to reduce operating expenses and improve access to financing to help them withstand external pressures.
An aerial view of Nairobi City
Photo
Nairobi City Marathon