Latest news with #FinanceBill2024
Yahoo
20-05-2025
- Politics
- Yahoo
Clip of Donald Trump asking Kenya's President William Ruto to resign is AI-generated
'Trumpp telling the president of kenya to do what kenyans want (sic),' reads the text overlay on an Instagram post published on May 6, 2025. The post has been liked more than 32,000 times. 'If I was the president of Kenya today and see all that is happening, I will just resign. No need of forcing yourself in power. If people don't want it, it means they don't want you,' Trump appears to say in the clip. The clip was also published in other Instagram posts here and here. Since taking office in 2022, Ruto's administration has faced criticism over a series of policies and actions that have exacerbated economic hardships and fuelled public outrage. Key among these was the Finance Bill 2024 which sparked countrywide protests last year (archived here). Marked by 'Ruto must go' chants, the demonstrations were marred by accusations of police brutality, including killings, arrests, and abductions of protesters and activists (archived here). Since then, the chants have grown popular at social gatherings and political rallies, leading Kenya's security chiefs to warn that those chanting must adhere to constitutional guidelines (archived here). However, the Instagram clip of Trump urging Ruto to listen to Kenyans and resign is altered. AFP Fact Check conducted reverse image searches on keyframes from the clip and found the original footage published by BBC News on July 19, 2024 (archived here). 'Donald Trump addresses Republican convention in first speech since shooting,' reads the video's title. Comparisons show Trump in the same attire and in front of the same background in both videos. Trump was speaking at the Republican convention in Milwaukee, recounting the assassination attempt that occurred five days earlier, leaving him with a grazed right ear. The distinctive bandage he wore during the speech is slightly visible in the Instagram video when he turns his head. In the address, also published by other news outlets, Trump made no mention of Ruto or Kenya (archived here and here). We also analysed the Instagram clip's audio through InVID-WeVerify's audio detection tool, and the results suggested strong evidence of voice cloning. We did not find any credible reports of Trump commenting on Kenyan politics. AFP Fact Check has recently debunked other Trump AI-generated claims.
AFP
20-05-2025
- Politics
- AFP
Clip of Donald Trump asking Kenya's President William Ruto to resign is AI-generated
Mounting public dissatisfaction with Kenyan President William Ruto's administration has led to calls for his resignation, driven by various concerns including economic hardship and reports of human rights violations by security forces. A video recently published on Instagram claims to show US President Donald Trump urging Ruto to resign. But the claim is false; the clip was AI-generated, and the original video shows Trump speaking after the 2024 assassination attempt on his life. 'Trumpp telling the president of kenya to do what kenyans want (sic),' reads the text overlay on an Instagram post published on May 6, 2025. The post has been liked more than 32,000 times. Image Screenshot of the altered post, taken on May 19, 2025 'If I was the president of Kenya today and see all that is happening, I will just resign. No need of forcing yourself in power. If people don't want it, it means they don't want you,' Trump appears to say in the clip. The clip was also published in other Instagram posts here and here. 'Ruto must go' Since taking office in 2022, Ruto's administration has faced criticism over a series of policies and actions that have exacerbated economic hardships and fuelled public outrage. Key among these was the Finance Bill 2024 which sparked countrywide protests last year (archived here). Marked by 'Ruto must go' chants, the demonstrations were marred by accusations of police brutality, including killings, arrests, and abductions of protesters and activists (archived here). Since then, the chants have grown popular at social gatherings and political rallies, leading Kenya's security chiefs to warn that those chanting must adhere to constitutional guidelines (archived here). However, the Instagram clip of Trump urging Ruto to listen to Kenyans and resign is altered. Doctored video AFP Fact Check conducted reverse image searches on keyframes from the clip and found the original footage published by BBC News on July 19, 2024 (archived here). 'Donald Trump addresses Republican convention in first speech since shooting,' reads the video's title. Comparisons show Trump in the same attire and in front of the same background in both videos. Image Screenshot of the altered post (left) and the original footage published by BBC News Trump was speaking at the Republican convention in Milwaukee, recounting the assassination attempt that occurred five days earlier, leaving him with a grazed right ear. The distinctive bandage he wore during the speech is slightly visible in the Instagram video when he turns his head. Image Screenshots of bandaged ear seen in altered post (left) and the original footage from BBC News In the address, also published by other news outlets, Trump made no mention of Ruto or Kenya (archived here and here). We also analysed the Instagram clip's audio through InVID-WeVerify's audio detection tool, and the results suggested strong evidence of voice cloning. Image A screenshot of InVID-WeVerify's voice cloning detector results, taken on May 19, 2025 We did not find any credible reports of Trump commenting on Kenyan politics. AFP Fact Check has recently debunked other Trump AI-generated claims.
The Star
29-04-2025
- Business
- The Star
Kenyan government backs budget cuts, endorses Finance Bill 2025
NAIROBI, April 29 (Xinhua) -- Kenya's Cabinet on Tuesday resolved to implement significant budget realignments in line with the government's fiscal consolidation policy aimed at reducing the budget deficit. During a Cabinet meeting held in the national capital of Nairobi and chaired by President William Ruto, cabinet secretaries were instructed to work with the National Treasury to identify and execute the necessary adjustments within their respective ministries and state departments. "These adjustments are part of broader austerity measures designed to strengthen fiscal discipline, reduce public debt vulnerabilities, and create the fiscal space necessary to deliver essential public goods and services," the presidency said in a statement issued after the meeting. According to the statement, the budget realignment aims to cap the fiscal deficit at no more than 4.5 percent of gross domestic product for the 2025/2026 financial year, down from 5.3 percent in 2023/2024 and 5.1 percent in 2024/2025, with a medium-term target of reducing the deficit to 2.7 percent. As a result, the Cabinet said the initial budget estimates of 4.3 trillion Kenyan shillings (about 33.2 billion U.S. dollars) will undergo substantial revisions before being tabled in the Parliament. The Cabinet also approved the Finance Bill 2025, which, according to the presidency, seeks to minimize the introduction of new taxes and instead improve tax administration through a new legislative framework. In June last year, Ruto was forced to withdraw the Finance Bill 2024 after widespread anti-government protests led by young demonstrators erupted across the country in opposition to a range of unpopular tax increases. On Tuesday, the presidency said key provisions of the Finance Bill 2025 include streamlining the tax refund process, closing legal loopholes that delay revenue collection, and reducing tax disputes by amending the Income Tax Act, VAT Act, Excise Duty Act, and the Tax Procedures Act. The bill also proposes critical reforms to support small businesses, including a provision allowing them to fully deduct the cost of everyday tools and equipment in the year of purchase, thereby eliminating unnecessary delays in accessing tax relief.
Zawya
09-04-2025
- Business
- Zawya
Taxes, high octane politics spook venture capital investors in East Africa
East Africa recorded subdued venture capital (VC) activity in 2024, weighed down by a volatile sociopolitical climate and increased business taxes in Kenya. Latest data by the African Private Equity and Venture Capital Association Ltd (AVCA) shows that the region recorded 112 VC deals valued at $472 million, from 114 deals valued at $480 million in 2023. The pan-African private capital lobby says in its report Venture Capital in Africa report dated March 2025 that a volatile sociopolitical climate in Kenya and regulatory changes related to the proposed Finance Bill 2024 (including a rise in capital gains Tax from five percent to 15 percent and a new six percent digital services tax) led to a 7.6 percent decline in new business registrations, weighing heavily on deals flow. The report says while East Africa ranked second by volume in 2024, largely due to the padding of debt valued at $114 million, the region's overall performance was somewhat 'disappointing.'The region ranked fifth by deal value, partly due to the absence of super-sized deals, according to the report. Super-sized deals are those equal to or exceeding $100 million. The report flags an 88 percent drop in venture funding to Rwanda, which weighed on deal value, 'compared to its exceptionally strong 2023, which had included two deals valued at over $20 million.'The report cites Tanzania as a standout performer during the period, with its share of East Africa's capital rising to nine percent from under one percent in 2023. According to the report, Tanzania's improved performance in terms of VC deals reflects the government's proactive support for start-ups, including a proposed Start-up Policy and Act in 2023, regulatory and tax reforms in 2024, and plans for a Tsh100 billion ($37.13 million) Tanzania Venture Capital Fund in 2025. Read: Why East African companies prefer private equity, venture capital fundraising to IPOsSeychelles also emerged as a hub for venture capital, particularly in the blockchain and fintech sectors, reflecting its growing appeal to digital-first investors and start-ups, the report says. But ti notes that with tech penetration at 71 percent, East Africa has a strong but relatively smaller technology footprint, compared with other parts of Africa, which has shaped regional investment patterns, with non-tech funding in 2024 being concentrated in consumer-oriented sectors — consumer discretionary (durables and apparel) and consumer staples (food and beverage) companies, which received 61 percent of investment. Kenya dropped to the fourth and fifth position from third position in terms of the top 10 investment destinations by VC deal volume and value in 2024 respectivelyFor instance, Kenya ranked fourth with 60 VC deals, after Nigeria (70), South Africa (65) and Egypt (64). On the other hand, Nairobi ranked fifth with VC deals valued $318 million after South Africa ($589 million), Nigeria ($417 million), HQ Outside Africa ($362 million) and Egypt ($353 million). West Africa topped the regions in deal volume for the fourth consecutive year. According to the report, financials have long stood as the titan of venture capital in Africa, consistently attracting the largest share of investment. Its dominance persisted into 2024, as financials remained the only sector to record annual growth in deal volume, inching up by two percent. Although total deal value contracted from $1.7 billion in 2023 to $1.5 billion, the sector still commanded a dominant 59 percent of overall venture funding in 2024—equivalent to nearly three out of every five dollars deployed across the continent. This impressive share marks a decade-long climb in the concentration of capital towards this sector (financial), from 23 percent (2015-2017), climbing to 32 percent (2018 to 2020) and later 50 percent (2021 to 2023). Although early-stage ventures focused on consumer financial services remain the mainstay, the banking sub-sector is steadily gaining traction. Read: A tough and rough year for East African startupsNot only did the volume of banking deals triple from just six in 2020 to 19 in 2024, but the average deal size also surged from $2.2 million to $26.4 million over the same period. This trend mirrors the global rise of digital-only banks, which have gained widespread adoption following their success in Europe. In 2024, African digital banks not only demonstrated strong regional appeal but also held their own on the global stage. Financials and utilities were once again frontrunners by both deal volume and value in Africa in 2024, reinforcing their perception as stable and high-growth sectors during economic uncertainty. More specifically, the financial sector cornered the venture debt market by volume with 25 transactions (42 percent of total deal count), while the Utilities sector led monetarily with transactions amounting to $367 million (39 percent of total deal value). Other sectors, including Consumer Discretionary & Staples (17 percent) and Industrials (12 percent), also received venture debt in 2024, but their share of the overall distribution was significantly smaller. Materials and Information Technology rounded out the list with one deal apiece, illustrating the diverse but narrowing footprint of venture debt across the continent's economic landscape. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
