Kenya’s crypto tax could hinder Africa’s digital growth opportunity 🇰🇪
Kenya is proposing a 1.5% tax on every cryptocurrency transaction, which could have significant implications for Africa's digital growth. This proposed tax poses a risk to Kenya's established position as a leader in fintech, potentially driving talented individuals and startup companies out of the nation.
The tax could disrupt digital integration across the African continent, as a higher cost on crypto transactions may discourage innovation and investment in the burgeoning digital space. Such financial barriers might hinder the ability of startups to thrive and attract international talent to the region.