• 17 May 2021 - Thousands of businesses and individuals in the country are set for significant relief with Treasury pushing for amendments to excuse locals from accounting for the digital service tax (DST). Under the 2021 Finance Bill, the exchequer wants the DST to be only applicable to non-residents/ foreigners…
  • 17 May 2021 - Stanbic  Bank Kenya has posted a 26.7 per cent increase in earnings across three months to March with its profits ring to Ksh.1.9 billion from Ksh.1.5 billion last year. The strong rebound in earnings for the lender at the start of the year is anchored on enhanced revenue streams in the period.…
  • 17 May 2021 - Diaspora remittances continued to soar in April with Kenyans abroad sending home Ksh.32.1 billion ($299.3 million) across the month. This to represent a steep 43.7 per cent increase in remittances from Ksh.22.3 billion ($208.2 million) in April last year and a 2.9 per cent growth on a monthly…
  • 16 May 2021 - Coke Energy, we hardly knew you. The Coke-energy-drink hybrid is being discontinued in North America, just over a year after it launched. Coke Energy hit shelves in January 2020, a few months before coronavirus began spreading across the region. However, the pandemic altered the beverage giant’s…
  • 14 May 2021 - Technology firm Huawei Kenya has expanded its graduate jobs program opening about 30 job and internship opportunities this year. The expanded program under which Huawei collaborates with its business partners followed a virtual jobs fair that saw the participation of over 150 ICT graduates. Huawei…
  • 14 May 2021 - Petrol users will bear the burden of higher costs after a Ksh.3.56 price hike in the latest fuel price review. The mid-month review by the Energy and Petroleum Regulatory Authority (EPRA) has nevertheless left diesel and kerosene costs unchanged. The average cost of petrol is now set to cross the…
  • 14 May 2021 - Heavy flooding overnight has cut off power in parts of Nairobi. The areas off supply include Nairobi West, South C, parts of Langata Road and Mbagathi Way, Dam Estate, Civil Servants Estate, Five Star Estate and Parts of Lower Hill. Utility company Kenya Power says its Nairobi substation has been…
  • 14 May 2021 - The price of bitcoin has nosedived after Tesla CEO Elon Musk said his company was suspending plans to accept the cryptocurrency as payment for electric vehicles. Bitcoin was down 12% as of 6:50 a.m. ET on Thursday — bringing the coin’s price down to about $49,300, according to cryptocurrency news…
  • 13 May 2021 - Kenyans sent a high of Ksh.4.4 trillion shillings for free under the waiver of fees subjected to transactions of up to Ksh.1000 between March 16 and December 31 last year on the M-Pesa platform. This is according to new disclosures by telecoms operator Safaricom on Thursday from which Safaricom…
  • 13 May 2021 - The National Treasury has scooped an additional Ksh.20.7 billion from a secondary issue of bonds this month This to take its total haul from Treasury bonds this month to Ksh.41 billion surpassing its initial Ksh.30 billion target. Investors matched up the Ksh.20 billion on offer in May’s tap sale…
  • 13 May 2021 - Kenyans took out a total of Ksh.351.2 billion loans from Safaricom’s overdraft service Fuliza or about Ksh.962 million daily over the last one year to March 2021. In contrast, Kenyans only borrowed an equivalent Ksh.670 million a day from the platform in the previous year or a total of Ksh.244.6…
  • 13 May 2021 - Safaricom Plc has posted a 6.8 per cent dip earnings for its financial year ending in March 2020 with profits falling to Ksh.68.7 billion from Ksh.73.6 billion last year. This is the telco operator’s first annual profit dip in a nearly decade since the year closing in March 2012. The marginal…
  • 13 May 2021 - Silafrica, the manufacturer and supplier of plastic and packaging solutions, has partnered with Kenya National Federation of Jua Kali Associations to cushion informal sector workers from job losses during the pandemic. Akshay Shah (Silafrica, Group Executive Director) and Richard Muteti (Chief…
  • 13 May 2021 - PwC has released the seventh edition of its Africa Value Added Tax guide, comprising updates on VAT regimes in 41 African countries. PwC’s 2021 Africa VAT Guide highlights compliance-related initiatives such as the adoption of real-time VAT reporting and data analysis by various tax…
  • 12 May 2021 - Former Imperial bank directors have made a fresh attempt to block the Capital Markets Authority (CMA) from initiating proceedings probing their role in the issuance of a Ksh.2 billion corporate bond in 2015. In their third attempt to stop the proceedings after a High Court and Court of Appeal…
  • 12 May 2021 - Sasini Plc has completed a turnaround in earnings after posting a Ksh. 122.2million profit across six months to March 31, 2021. The rebound to profitability has been anchored on non-sales income with the Group operating activities yielding in gains of Ksh.177.9 million from a loss of Ksh.7.3…
  • 12 May 2021 - Suspended WPP Scangroup Chief Finance Officer (CFO) Satyabrata Das has resigned from the marketing giant’s board effective from May 10. Das’s resignation as an Executive Director comes on the backdrop of an ongoing probe into allegations of gross misconduct in which he is implicated. At the same…
  • 12 May 2021 - Kenya Power has partnered with Community Based Organisations (CBOs) in Mathare, Mukuru and Kibera in efforts to enhance service delivery and stem electricity theft. This innovative partnership, which is in line with the company’s wider commercial losses reduction strategy, will enlist the support…
  • 12 May 2021 - Kenya aims to set up an emissions trading system that will allow companies and other bodies to buy emissions allowances, the Treasury CS said on Tuesday, as the country strives to limit the release of greenhouse gases. Emissions trading is a pollution control mechanism where a central authority…
  • 11 May 2021 - The Central Bank of Kenya (CBK) has opened secondary bids for Treasury bonds issued in May from which it seeks to raise a further Ksh.20 billion in new borrowing for government. The tap sale which closes on May 19 is on the back of a Ksh.22.3 billion snub on investor bids in the primary issue ……
  • 11 May 2021 - The Kenya Airports Authority (KAA) has re-advertised its Managing Director post, 20 months since the start of the process in September 2019. The fresh recruitment process will see the airports manager receive new applications between Tuesday and May 21. Applicants who had applied for the role…
  • 11 May 2021 - This May, the African Development Bank Group is launching a call for proposals for projects enhancing the viability and sustainability of women entrepreneurship enablers. Women’s business associations, incubators, accelerators, and cooperatives that advance women’s entrepreneurship, can apply for…
  • 11 May 2021 - PwC has commended the move by Kenya Revenue Authority to lift restrictions on warehousing of goods in customs bonded warehouses imposed by customs in May 2020. PwC said the policy shift by KRA’s Commissioner of Customs and Border Control, is a welcome relief for businesses that utilize customs…
  • 11 May 2021 - To strengthen resilience and continuity among businesses and organisations, the Kenya Bureau of Standards (KEBS) has approved two new standards on management practices to boost businesses’ capacity to respond to the COVID-19 protocols. Kenya Standards KS ISO 22301:2019 and KS ISO 22392:2020 aim to…
  • 11 May 2021 - The Kenya Deposit Insurance Corporation (KDIC) has opened payments to depositors in Chase and Charterhouse banks following the nod on the lenders’ liquidation. Depositors of Chase Bank Limited in Liquidation have for instance been directed to lodge their claims to the KDIC through forms available…
  • 11 May 2021 - Apartment prices in Westlands registered the biggest dip at 3.3 per cent ahead of Kilimani which shed 2.4 per cent of costs in the quarter. According to a HassConsult report, Kilimani area saw the sharpest drop in rental prices at 2.8 per cent behind Kiambu which saw rental prices shed 5.3…
  • 10 May 2021 - The month to month Food and Non-Alcoholic Drinks’ Index increased by 1.73 percent between March 2021 and April 2021. Also Read: April inflation in Kenya cools to 5.8pc A statement from the Kenya National Bureau of Statistics released on April 30 said food inflation was mainly attributed to…
  • 9 May 2021 - Somalia’s cargo and travel industries have welcomed the resumption of diplomatic ties with neighbor Kenya after a five-month freeze that damaged bilateral trade. But tensions remain over an unresolved maritime territorial dispute. Somalia and Kenya have announced the resumption of their diplomatic…
  • 9 May 2021 - Google is expanding its options for when, where and how often employees return to the office. Also Read: Working from home: Is it time to say goodbye to work-life balance? The company’s workers around the world can continue working remotely until September, after which they can choose between…
  • 8 May 2021 - Private sector credit growth collapsed back 7.7 per cent in March, the lowest rate since October as banks froze new loan issues on renewed pandemic fears. According to new data from the Central Bank of Kenya (CBK), net loans advanced by the banking industry shrunk to just Ksh.105 million during…