In a bold move by President Kenyatta, the government reduced the corporate tax by 5%, value added tax (VAT) by 2%, prompt payments of bills within three weeks and refunds of all audited VAT refunds to the tune of 10 billion shillings.
The key to understanding responses to COVID-19 is the question of what the economy is for. Currently, the primary aim of the global economy is to facilitate exchanges of money. This is what economists call “exchange value”.
The spread of the pandemic has brought to the fore the need for business leaders to recognise the crucial interdependencies between business and its environmental, social, and governance context.
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