By Shadrack Nyakoe
Matatu Owners Association, has stated in a press conference today that the proposed finance bill will hinder the progress of the matatu sector.
The association is one of the largest in Kenya and has requested the government engage in discussions about the controversial bill.
“We are not supporting the finance Bill. We are paying taxes from the fuel levy and other areas. We are already heavily burdened with taxes, and the bill is not supporting the matatu sector or easing our burdens,” Albert Karakacha, President of the association emphasized.
He also highlighted other challenges faced by the industry, such as high interest rates, currently at 24%, and pervasive corruption.
“We have decided to bring together all the saccos countrywide. We are a Ksh 500 million industry. We can pool our resources, loan ourselves money, and regulate our own interest rates. We can support ourselves with loans instead of relying on banks,” Karakacha added.
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Matatu Owners Association urged the government to consider the ordinary mwananchi during this difficult economic period by reducing taxes and not implementing the finance bill.