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Kenya has appointed Adan Abdulla Mohamed as Commissioner General of the Kenya Revenue Authority (KRA), in a major leadership reshuffle as President William Ruto’s government faces growing pressure to raise revenue without deepening public frustration over taxes. Treasury Cabinet Secretary John Mbadi appointed Mohamed to a three-year term effective immediately, according to a government gazette on Monday, formalising the leadership change at the country’s tax authority as Kenya struggles with rising debt servicing costs, weaker economic growth and persistent revenue shortfalls. Mohamed replaces Humphrey Wattanga, whose exit in April came abruptly after KRA’s board declined to renew his contract. The authority gave no detailed explanation for the decision beyond thanking him for his service and role in organisational restructuring. The move comes as tax collection has become one of the most politically sensitive parts of Ruto’s economic agenda. The government has leaned heavily on KRA to finance spending plans and narrow budget deficits, even as businesses and households grapple with high living costs and slower consumer demand. Under Wattanga, KRA expanded digital monitoring systems, tightened enforcement and increased scrutiny of businesses and imports in an effort to widen the tax base. Business groups and manufacturers said the measures increased compliance costs in an already weak economy. Mohamed takes over an agency expected to deliver stronger collections while avoiding further strain on economic activity. Parliament is currently debating proposals under the Finance Bill 2026 aimed at widening the tax net and tightening compliance measures. His appointment signals continuity in Kenya’s revenue strategy even after Wattanga’s abrupt exit. Kenya remains under pressure to improve domestic revenue mobilisation as part of broader fiscal reforms backed by lenders, including the International Monetary Fund (IMF). KRA collected KES 2.038 trillion ($15.7 billion) in the nine months through March 2026, missing its KES 2.122 trillion ($17 billion) target but posting 11.4% growth from a year earlier, according to KRA data. The revenue authority attributed the increase to wider digital compliance systems and data-driven tax administration, even as businesses continued to push back against rising enforcement pressure.
Read MoreAfrica Bitcoin Corporation (ABC), the South Africa-based Bitcoin treasury and SME financing firm, has applied to transfer its listing from South Africa’s Alternative Exchange (AltX), a board for smaller companies, to the Johannesburg Stock Exchange’s (JSE) Main Board. The transfer will move all of the company’s share classes, including its ordinary shares and preferred A, B, and C shares, to the JSE Main Board under the exchange’s General Segment classification, the company said in a statement on Monday. The JSE has approved the move set to take effect on Friday, May 22. The move is the latest step in Africa Bitcoin Corporation’s multi-exchange expansion across Africa, as it seeks to bring Bitcoin exposure to institutional investors through publicly traded stock exchanges. Questco Corporate Advisory Proprietary Limited, a South Africa-based advisory firm which previously acted as the company’s designated advisor, will become its JSE sponsor from the transfer date. In March, Africa Bitcoin Corporation completed a 3-for-1 share split and issued up to 22.9 million new ordinary shares to meet the minimum share capital requirements for a Main Board listing and additional international listings. “[Africa Bitcoin Corporation] has strategic ambitions to broaden its exchange footprint, including a potential migration to the JSE Main Board and participation on additional international trading platforms. Increasing the issued Ordinary Share capital will assist the [ABC] in achieving the minimum issued share capital criteria applicable to such exchange and market segments,” the company said in the March 25 filing. Under JSE Main Board listing requirements, companies seeking to list must have at least 25 million issued equity shares in circulation and meet one of two financial thresholds. They must either report a pre-tax profit of at least R15 million ($902,700) in the most recent financial year and hold net assets of at least R50 million ($3 million), or hold net assets of at least R500 million ($30 million). Africa Bitcoin Corporation met the profit threshold in the year ended February 2025, its last released full-year report. It earned R47.9 million ($2.9 million) in total profit. Most of it came from an R86.2 million ($5.2 million) fair value gain tied to its Altvest Credit Opportunities Fund (ACOF), the company’s SME lending arm, rather than from its core operations, according to the report. At the time, the company had 11 million ordinary shares in issue, less than half the JSE’s 25 million minimum for Main Board listings, which required it to issue additional shares. The Main Board listing gives the company more flexibility under JSE rules. Under the General Segment classification, Africa Bitcoin Corporation will not need shareholder approval to issue shares for cash, as long as the issuance stays below 10% of its issued share capital. The company can also repurchase some shares without shareholder approval and is no longer required to publish condensed financial results within three months of its financial year-end, according to the Monday filing. Africa Bitcoin Corporation, which now holds 5 Bitcoins in its reserves, said in 2025 that it planned to raise $210 million to build a Bitcoin treasury reserve, following the model popularised by firms like Strategy in the United States. The company is already listed on the Namibian Stock Exchange (NSX), and trades on the OTCQB Ventures Market in the United States. ABC is also listed on German retail trading exchanges, including the Börse Frankfurt Quotation Board, Tradegate, and Lang & Schwarz. In October 2025, Warren Wheatley, ABC’s chief executive officer (CEO) and Stafford Masie, its executive chairman, told TechCabal that the company plans to pursue further listings across Africa, including in Botswana and Kenya, as well as London. As a listed Bitcoin treasury firm, ABC could raise capital through equity issuance, buy Bitcoin with the proceeds, and give investors indirect exposure to the digital asset through publicly traded shares. Public listings also allow ABC to sidestep crypto trading restrictions in some African markets. In countries where retail crypto trading is banned, investors can still gain exposure to Bitcoin by buying shares in the company.
Read MoreMoneyHash, a Middle East and Africa-born startup that provides payment orchestration infrastructure for businesses, has appointed Hwan Lee as its Regional Director for Africa as the company plans its expansion across the continent. Lee joins MoneyHash after more than eight years at Ozow, a South African electronic funds transfer (EFT) systems provider, where he most recently served as Head of Partnerships. Earlier in his career at Ozow, Lee also held senior commercial and business development roles focused on expanding merchant relationships and market reach. The appointment aligns with MoneyHash’s ambition of building what it previously described as a fully agnostic payments infrastructure layer capable of aggregating payment Application Programming Interfaces (APIs) and technical capabilities across providers and markets, which it could achieve by hiring the right people. “Africa represents one of the most exciting growth opportunities in global payments today,” said Nader Abdelrazik, Chief Executive Officer of MoneyHash. “Hwan’s leadership experience and deep market understanding will be instrumental as we expand across the continent and help businesses scale with greater control, flexibility, and efficiency.” Founded in early 2021 by Abdelrazik and Mustafa Eid, MoneyHash started as a payment orchestration platform focused on emerging markets, where businesses often struggle with fragmented payment systems. The company has since positioned itself as infrastructure that sits between merchants and payment providers, enabling businesses to integrate multiple gateways through one API instead of building separate integrations for each market. It offers smart payment routing, multi-currency payment processing, and a unified dashboard for complete operational control. As Regional Director for Africa, Lee will oversee MoneyHash’s commercial strategy and market development efforts across the continent, which will include strengthening partnerships with payment providers and merchants and driving business growth across priority markets. MoneyHash noted that Lee already played a role in expanding relationships with companies operating in African markets, including Luno, a cryptocurrency exchange platform, Lumepay, a digital payments company, and Moove, the Uber-backed vehicle financing startup. “I’m excited to join MoneyHash and help merchants unlock growth through stronger payment operations and modern infrastructure,” Lee said. The startup raised a $4.5 million seed round in early 2024 and a $5.2 million pre-Series A round in 2025. In its statement, it identified Africa as one of the core pillars of its international growth strategy, citing growth in digital commerce and cross-border payments across the continent.
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