BY JOAN WANJIKU,NAIROBI,18TH OCT,2021-Media personality Janet Mbugua has taken to twitter to condemn gender-based violence and its increased incidents in Kenya. In a Tweet on
Category: Business
Simplifine to offer bread and baked products following acquisition of Ennsvalley bakery
BY CORRESPONDENT, NAIROBI, 4TH OCT 2021-SimpliFine, a Kenyan integrated food producer offering locally sourced and manufactured food products across East Africa, completed the acquisition of
Quickmart supermarket makes a grand entry to kisii,opens new branch
BY JOAN WANJIKU,NAIROBI,1ST OCT,2021-Quickmart supermarket has opened a new branch in Kisii town as part of its expansion strategy that targets to have a store
1pc minimum tax unconstitutional, High Court rules
BY JOAN WANJIKU,NAIROBI,20TH SEPT,2021-The High Court has declared the minimum tax, which was to be levied on small businesses at the rate of 1% of
1 of 3,204 Kenya confident on trade with Ethiopia as Moyale OSBP operational manual is signed
BY Samuel Migele ,NAIROBI,16TH SEPT,2021-The Kenyan delegation has expressed confidence on stronger trade ties with Ethiopia as procedure manual to guide the two nations in the implementation of the Moyale One Stop Border Post (OSBP) is signed in Addis Ababa. The Kenyan delegation led by officials from the Ministry of Interior and Coordination of National Government and those from key government agencies active in the borders, trade and logistics expressed optimism on the successful implementation of the Moyale OSBP. The signing of the operational guiding document, Moyale OSBP Procedure Manual, marks yet another joint commitment between the two neighbouring countries to boost their long-standing relations. Both governments’ officials and private sector stakeholders present during the signing of the document expressed optimism on economic growth to be gained as a result of the full implementation of the facility. Mr. Wilson Njega, Internal Security Secretary, who led the Kenyan delegation, said the signing of the Moyale OSBP Procedure Manual is a step towards enhanced cross border trade and movement of persons between the two countries. He noted that the OSBP is highly dependent on the Lamu Port- South Sudan-Ethiopia-Transport (LAPSSET) Corridor Project as it will ensure growth arising from better services and improved infrastructures. Kenya Revenue Authority (KRA) Commissioner for Customs and Border Control Ms. Lilian Nyawanda emphasized the need to simplify trade to ensure goods flow seamlessly and within the confines of the Customs laws. Commissioner Nyawanda urged private sector to utilize the Moyale OSBP. In her address, she expressed confidence that the OSBP will bring immense benefits to traders from both countries. On his part, Ethiopian Commissioner for Customs Mr. Debele Kebeta who led the Ethiopian delegation noted that the trade situation of Etho-Kenya trade is changing and the volume and diversity of goods traded between them is growing at higher rate. He added that the operationalization of Moyale OSBP will be a breakthrough to boost the trade relations and free movement of people between Ethiopia and Kenya. The OSBP is majorly to facilitate trade by easing movement of people and goods across the border. It will also reduce transport and shipping costs of goods between the two countries and improve people-to-people relations. The signing of the Manual comes months after the two heads of State; His Excellency President Uhuru Kenyatta and His Excellency Prime Minister Abiy Amhed, inaugurated the facility on 9th December 2020. During the inauguration, the President said that with the completion of the Moyale OSBP, the two countries demonstrated the political goodwill to address the challenges and impediments facing businesses from both sides. Also present as part of Kenya’s delegation during the signing of the procedure manual was Secretary of Management Secretariat Mr. Kennedy Nyaiyo among others. Other Kenyan government agencies participating include East African Community, Lamu Port-South Sudan-Ethiopia-Transport (LAPSSET) Corridor Development Authority represented and Kenya Ports Authority. The private sector was represented by Kenya National Chamber of Commerce and Kenya Association of Manufacturers among others.
Jambojet ventures into DRC Market, launches direct flights to Goma
BY KORIR JUMA,NAIROBI,13TH SEPT,2021-Jambojet has commenced operations to North Kivu Province Capital, Goma in Eastern Democratic Republic of the Congo, becoming the first low-cost carrier
Safaricom makes huge steps towards starting operations in Ethiopia, announces countrywide staff recruitment
NY JOAN WANJIKU,NAIROBI,3RD SEPT,2021-Safaricom Telecommunications Ethiopia PLC (Safaricom Ethiopia) has announced a countrywide staff recruitment drive and introduced its leadership team as it affirmed its
Over 3000 traders facilitated as KRA collects KShs.1 billion in new shed
BY CORRESPONDENT,NAIROBI,12TH AUG 2021-THREE THOUSAND AND TWO (3002) small scale traders have benefited from the Kenya Railways Boma Line (National De-consolidation Centre) since President Uhuru Kenyatta launched the facility in February 2020. All consolidated cargo imported by sea and transported to Nairobi through the Standard Gauge Railway, is deconsolidated, cleared, and collected by the owners at the Kenya Railways Corporation (Boma Line) Transit Shed. A total of 1,021 twenty-foot equivalent units (TEUs) of consolidated goods belonging to the small-scale traders have been cleared in the last nine months. Kenya Revenue Authority (KRA) Commissioner General Mr. Githii Mburu said 1,021 TEUs cleared since its establishment and operationalization in November 2020 resulted in KShs 1,046,719, 812 in customs revenue. The deconsolidation centre has seen an increase from clearing six containers in November 2020 to 106 in June 2021. Mr. Mburu, together with management from other government agencies hosted the Principal Secretaries who are members of the National Development Implementation Committee at the Kenya Railways Transit Shed during a tour of the facility. Since its establishment, no trader has lost his/her goods and complaints relating to delayed cargo clearance significantly reduced. This means the de- consolidation of cargo is secure. The Boma Line transit shed has been expanded to handle up to 30 TEUs in a day from four containers last year. The government through KRA gazetted the Shed among other various facilities to be used for deconsolidation to ease and speed clearance of cargo imported by small-scale traders. The facility has significantly reduced the cost of doing business for small-scale traders. Currently, it takes less than 24 hours for cargo to be transported to from the Port to Boma Line where it is immediately cleared and released for pick up by the traders. Traders in Nairobi CBD pick their goods on carts or Pick Up trucks and hence avoid last mile
KEPSA launches E-commerce booster portal to aid struggling MSMEs digital presence
BY CORRESPONDENT,NAIROBI, 30TH JULY,2021-The KEPSA E-commerce Booster Program targeting 2000 Micro, Small and Medium sized enterprises (MSMES) launched on 25th February 2021, has surpassed the
Port of Lamu future looks bright as it receives a transshipment consignment of 103TEUS from Zanzibar enroute to Dubai
BY CORRESPONDENT,NAIROBI,16TH JULY,2021-Port of Lamu future looks bright as it receives a transhipment consignment of 103TEUS from Zanzibar enroute to Dubai The Port of Lamu
Airtel increases cost of making calls on its network as new taxes takes effects
BY JOAN WANJIKU,NAIROBI,2ND JULY,2021-Kenyans will pay more for voice and data as telecoms operators begin effecting a higher rate of excise duty. This is following
EPRA gets new director general as Daniel Kiptoo named new boss
BY JOAN WANJIKU,NAIROBI,30TH JUNE,2021-The Energy and Petroleum Regulatory Authority has confirmed Daniel Kiptoo as the new director general. In a statement on Wednesday, the authority
Kenya Power unveils customer self-service portal for new connections
BY JOAN WANJIKU,NAIROBI,21ST JUNE,2021-Kenya Power has launched a self-service portal to enable customers to conveniently apply for electricity connections from the comfort of their locations.
Nakuru automotive dealer charged with KShs142 million tax fraud
BY CORRESPONDENT,NAIROBI,18TH JUNE,2021-A Nakuru based automotives dealer has been charged before Milimani law court with eleven counts of tax frauds and other tax offences all
748 Air Services to continue Nairobi-Kisumu flights
BY JOAN WANJIKU,NAIROBI,18TH JUNE,2021-748 Air Services has Friday said its daily flights from Nairobi to Kisumu will continue as scheduled. 748 Air Service Managing Director,
EPRA rises price of petrol by 77 cents as diesel, kerosene remain unchanged
BY JOAN WANJIKU,NAIROBI,14TH JUNE,2021-The price of petrol has risen by 77 cents as that of diesel and kerosene remain unchanged. In an announcement by the
Its all systems go for AERC Bi-Annual Conference to Explore Public Finance Amidst the Covid-19 Pandemic
BY CORRESPONDENT,NAIROBI,31ST MAY,2021- The African Economic Research Consortium (AERC) will host its flagship international conference to discuss opportunities and challenges on the Covid-19 Pandemic and public
KCB Group Shareholders Approves Proposed Acquisitions in Rwanda and Tanzania, Dividend Payout of KShs. 3.2B.
BY CORRESPONDENT,NAIROBI,27TH MAY,2021-KCB Group shareholders have approved the proposal to acquire up to 100% of the issued ordinary shares in Banque Populaire Du Rwanda (BPR)
National Bank to pay KShs 510 Million for disallowed tax credits claim
BY CORRESPONDENT,NAIROBI,26TH MAY,2021-The Tax Appeals Tribunal has ruled that National Bank of Kenya Limited is liable to pay taxes amounting to Kshs. 510,951,944.00. The taxes
NCBA posts impressive quarterly report as it registers Ksh.2.8 billion in profit
BY CORRESPONDENT,NAIROBI,25TH MAY,2021-NCBA Group has posted a remarkable 75 per cent earnings surge in the first quarter with its quarterly profit soaring to Ksh.2.8 billion
KRA to collect KShs.1.4 Billion from rice wholesaler
BY CORRESPONDENT,NAIROBI,24TH MAY,2021-The Tax Appeals Tribunal (the Tribunal) has dismissed an Appeal filed by Jhulay LAL Commodities Ltd on grounds that the firm had failed
KRA set to enhance trade facilitation at the Port of Lamu
BY CORRESPONDENT,NAIROBI,19TH MAY,2021-Kenya Revenue Authority (KRA) has finalized its plans to enhance trade facilitation and fast-track cargo clearance at the New Lamu Port. The KRA
Safaricom registers a decreased net income to Kshs. 68B as M-pesa revenue tumbles May 13, 2021 10:41
BY CORRESPONDENT,NAIROBI,13TH MAY,2021-Safaricom Plc has recorded the first ever decline in full year earnings in its two decade run as net income dropped 6.8% to
KCB Launches Seniors and Children Medical Plan in Insurance Partnership with Jubilee Health
BY CORRESPONDENT,NAIROBI,4TH MAY,2021-KCB Insurance Agency in collaboration with Jubilee Health Insurance has launched a medical cover designed to provide care to children under 24years and
Ednah Otieno becomes first Kenyan promoted to GB office
BY CORRESPONDENT,NAIROBI,22ND APRIL,2021-East African Breweries Ltd Group Human Resources Director Ednah Otieno has been appointed Human Resources Director for Diageo in Great Britain. Ms Otieno
Small businesses can now breath easy as court suspends minimum tax
BY KORIR JUMA,NAIROBI,19TH APRIL,2021-The High Court sitting in Machakos has stopped the Kenya Revenue Authority from demanding payment of the minimum tax introduced by the
Equity Bank 2020 net profit down 12% on high loan loss provision
BY JOAN WANJIKU,NAIROBI,29TH MARCH,2021-Equity Bank Group will for the second year running not allocate any dividends to its shareholders after they were withheld following what
KQ plans to suspend all Domestic flights between Nairobi and Mombasa Monday
BY JOAN WANJIKU,NAIROBI,27TH MARCH,2021-All domestic flights between Nairobi and Mombasa will be suspended effective mid-day on Monday, March 29, 2021. Kenya Airways Acting Chief Commercial
Kenya Airways Records Ksh36.57 Billion Loss Before Tax
BY JOAN WANJIKU,NAIROBI,23RD MARCH,2021-National carrier Kenya Airways (KQ) as recorded a Ksh36.57 loss before tax in the financial year ended December 2020. Revenues for the
OPPO Kenya launches Reno5 series with two devices
BY JOAN WANJIKU,NAIROBI,22ND FEB,2021-The Reno5 will retail at Ksh41,999, while the Reno5 F, which starts selling on March 22, 2021 will retail at Ksh31,999. Reno5
Kenya & IMF reach agreement on Ksh.262.7 billion 3-year loan
BY NAMULONGO PETER,NAIROBI,15TH FEB,2021-Kenyan authorities and the visiting team from the International Monetary Fund (IMF) have reached a staff-level agreement on the disbursement of a
Safaricom approves Ksh.18.03 billion half year dividend pay out to shareholders.
BY KORIR JUMA,NAIROBI,11TH FEB,2021-Leading telecom operator Safaricom has shrugged off virus concerns on operations to approve a Ksh.18.03 billion half year dividend pay out to
KQ unveils cargo flights on repurposed Dreamliner craft
BY JOAN WANJIKU,NAIROBI,8TH FEB,2021-National carrier Kenya Airways (KQ) is expected to operate its first fully fledged cargo flight to London on the repurposed Boeing-787 Dreamliner
KRA registers amazing results collecting Sh166 billion against a target of Sh164 billion
BY NAMULONGO PETER,NAIROBI,17TH JAN 2021-Kenya Revenue Authority is confident of closing in on its revenue targets for the financial year ending June 30, after a
Motorists to dig deeper into their pockets to afford fuel as EPRA raises prices of Diesel by KSH 4.57
BY JOAN WANJIKU,NAIROBI,14TH JAN 2021-Users of diesel are expected to see the sharpest increase in costs at the pump effective Friday, January 15 with the
Good News:Safaricom announces new M-Pesa tariff reductions
BY JAON WANJIKU,NAIROBI,22ND DEC,2020-Safaricom on Tuesday announced new Mpesa tariff reductions. Chief Executive Officer Peter Ndegwa said the new tariffs is in consideration of the
Closure of Radisson Blu hotel signals difficult times for the tourism and hotel industry in Kenya
BY KORIR JUMA,NAIROBI,14TH DEC,2020-Radisson Blu hotel has shut down operations at its Upper Hill branch to mitigate economic effects of Covid-19 pandemic. According to Business Daily,
Kenya in a business deal with UK as Brexit beckons
BY NAMULONGO PETER, NAIROBI,8TH DEC 2020-Kenya and the United Kingdom have ratified a new trade deal ahead of UK’s exit from the European Union on
Equity nine months profit falls to Ksh.14.8 billion as COVID19 effects on economy bites
BY KORIR JUMA,NAIROBI,12TH NOV 2020-Equity Group has reported a 17 per cent profit decline in nine months to September 30 with earnings sliding to Ksh.14.8
Safaricom reports a decreased half year profit amounting to KSH 33B compared KSH 35.2B captured last year
BY KORIR JUMA,NAIROBI,9TH NOV 2020-Mobile phone services provider company Safaricom has reported a reduced Ksh.33 billion half year profit representing a six percent slide in
Insurers launch RetireMed, a post-retirement medical insurance cover
BY CORRESPONDENT,NAIROBI,3RD NOV,2020-Sanlam Life and Minet Kenya have launched an innovative post-retirement insurance product dubbed RetireMed, which is designed to assist Kenyans to save for
Safaricom marks 20 years with focus on farmers,students
BY KORIR JUMA,NAIROBI,27TH OCT,2020-Leading mobile phone services provider Safaricom says it will be seeking to evolve beyond its current realm of mobile connectivity as it
KCB Gets US$150 Million from IFC for SMEs Lending, Climate Finance
BY CORRESPONDENT,NAIROBI,13TH OCT 2020-KCB Bank Kenya has received an approval for US$150 million, from the International Finance Corporation (IFC) as lead syndicator, to support the
KBL Partners with NTSA to Enhance Road Safety in Kenya
BY CORRESPONDENT,NAIROBI,12TH OCT,2020-Kenya Breweries Limited (KBL) has partnered with National Transport and Safety Authority (NTSA) to educate and sensitize road users on responsible drinking in
KRA, seize alcoholic products affixed with counterfeit excise stamps worth Ksh. 12 million
BY CORRESPONDENT,NAIROBI,9TH OCT,2020-Kenya Revenue Authority (KRA) in conjunction with the multi-agency team charged with combating illicit trade has impounded more than 1,600 cartons of alcoholic
KRA unveils a mobile application as part of its efforts to simplify and enable taxpayers to conveniently access tax services.
BY CORRESPONDENT ,NAIROBI,5TH OCT,2020-Kenya Revenue Authority (KRA) has today unveiled a mobile application as part of its efforts to simplify and enable taxpayers to conveniently
KRA wins Kshs.255 million tax appeal by water company
BY CORRESPONDENT,NAIROBI,30TH SEPT,2020-The Kenya Revenue Authority has won a tax suit filed by Highlands Mineral Water Company Limited challenging a tax demand of Kshs.155.4 Million.
Former Tuskys Employees Protests In Nairobi, Demands 3 Months Pay
BY JOAN WANJIKU,NAIROBI,30TH SEPT,2020– Tuskys employees on Wednesday staged protests in the Central Business District (CBD) over delayed pay. The former employees who were fired
KCB customers to Enjoy Contactless Card Payment Service
BY JOAN WANJIKU,NAIROBI,18TH SEPT,2020-KCB customers using cards will now be able to enjoy a safe and secure contactless experience when they tap and pay for
Insurance broker in court for failing to remit Kes 11.8 million re-insurance premiums
BY CORRESPONDENT,NAIROBI,18TH SEPT,202-A Nairobi based Re-insurance broker has been arraigned in court over a Kes 11.8 million theft case. Underwriting Africa Ltd Chief Executive Officer