Treasury CS Ukur Yatani read the Budget 2022/23 on Thursday, April 7, 2022, at the National Assembly. File Mr. Speaker, it is once again an immense privilege for me to present to this August House and to the people of the Republic of Kenya the Budget Statement that highlights the budget policies and the revenue […]
Category: Uganda
Kenya Airways, SAA Plan Investor Search for Pan-African Carrier
Kenya Airways Plc and South African Airways are planning a series of investor roadshows to help find a financial backer for a combined airline group they aim to create next year. The campaign to attract a majority investor for a holding company to be modeled on British Airways and Iberia owner IAG SA is likely […]
Kenyan banks make losses in South Sudan and why they stay on
Customers in a KCB banking hall in South Sudan capital, Juba. The lender cut its presence in the war-torn State. FILE PHOTO | NMG KCB started operations in the country in 2006, Equity in 2009 and Co-operative Bank was the latest entrant in 2013. In 2014, KCB shut three branches in South Sudan after the […]
A Kenyan court has frozen the sum of $48.6 million suspected to have been laundered by Nigerians backed by powerful politicians
A Kenyan court has frozen the sum of $48.6 million suspected to have been laundered by Nigerians backed by powerful politicians The millions were transferred from multiple offshore accounts (including Nigeria) into the accounts of these three Kenyan companies —Remix Capital Ltd, OIT Africa Ltd and Avalon Offshore Logistics Ltd. Four Nigerian and Kenyan nationals, […]
Safaricom, Equity, KQ top LinkedIn list of Leading Companies in Kenya
The leading telecommunications company, Safaricom , has been ranked top in the 2022 List of Top Companies in Kenya. Equity Bank and Kenya Airways come in second and third, with KCB Group coming in fourth. This is the first of what’s expected to be an annual ranking, and will be running alongside similar lists of […]
KRA reveals Keroche’s Sh22bn tax bill in brewer’s survival fight
Keroche Breweries chief executive officer Tabitha Karanja. FILE PHOTO | NMG The Kenya Revenue Authority (KRA) has disclosed that the troubled Naivasha-based Keroche Breweries owes it Sh22.79 billion in unpaid taxes, darkening the future for the brewer that challenged the mighty East African Breweries (EABL) . The taxman in an unprecedented move offered a blow-by-blow […]
How global economies are feeling the heat from Russia-Ukraine war
Author: Mr Karoli Ssemogerere is an Attorney-at-Law and an Advocate. What you need to know: Countries are facing pressure on the capital account dealing with rising energy prices. Oil prices long in decline from 2014 to-date are trading at 2 and ½ times what they were predicted to be in this time period. Ghanaian president […]
Fuel, commodity prices dampen economic activity
The price of fuel has not gone down since January when it was scarce, it only keeps increasing. PHOTO | FILE What you need to know: More than 41 percent of interviewed chief executive officers, procurement and purchase managers across business sectors, signalled a rise in costs of purchases with the most noticeable increases cited […]
SGR to Coast fully booked ahead of Easter
The standard gauge railway (SGR) passenger service from Nairobi to Mombasa is fully booked on the eve of Good Friday, forcing holidaymakers to seek expensive alternatives like road and air travel to the Coast. The bookings register shows that the trains to Mombasa are fully booked on April 14, ahead of the Easter celebrations. The […]
CDC renamed British International Investment
UK development finance institution and impact investor CDC Group has formally renamed itself British International Investment (BII), with CE Nick O’Donohoe saying the organisation will build on the CDC’s legacy by inheriting its “unparalleled” experience of impact investing and deep-rooted knowledge of the markets in which it invests. “BII is a strong, modern identity, which […]