Kenya’s government on Monday faced a strike, anger among commuters and a lawsuit after it triggered a hike in transport and fuel prices by imposing a 16 percent value added tax on all petroleum products. Suppliers stopped transporting fuel from depots to gas stations due to the strike by the Kenya Independent Petroleum Dealers Association […]
Tag: kenolkobil
Kenya independent petrol dealers strike over new tax
Reuters Kenyan fuel tax causes anger, petrol dealers strike NAIROBI, Sept 3 (Reuters) – Kenya’s government on Monday faced a strike, anger among commuters and a lawsuit after it triggered a hike in transport and fuel prices by imposing a 16 percent value added tax on all petroleum products. Suppliers stopped transporting fuel from depots […]
Kenya MPs to recall House over fuel tax as shortage looms
The MPs, led by Alfred Keter (Nandi Hills), Caleb Amisi (Saboti), Tindi Mwale (Butere) and Godfrey Otsotsi (Nominated), yesterday called for an informal meeting of members, popularly known as Kamukunji, to discuss the increase in fuel prices even after Parliament last week voted to freeze the collection of the 16 per cent value added tax […]
Kenyan fuel tax causes anger, petrol dealers strike
Reuters NAIROBI, Sept 3 (Reuters) – Kenya’s government on Monday faced a strike, anger among commuters and a lawsuit after it triggered a hike in transport and fuel prices by imposing a 16 percent value added tax on all petroleum products. Suppliers stopped transporting fuel from depots to gas stations due to the strike by […]
KenolKobil announces half year results, sees 16% rise in net profits
KenolKobil, the pan-African oil firm based in Nairobi, has announced its half year results ending June. During the review period the firm noted a 16.07% year-on-year rise in net profit, as well as its sales revenue increasing by a quarter and its costs falling by almost half. The company’s profit after tax rose from Sh1.422bn […]
Kenya: How Minority Shareholders Have Scuttled Takeover Bids At NSE
The failure of two takeover bids of Kenyan companies in July, the first of its kind, has illustrated the growing influence of minority shareholders in the running of listed companies. Minority shareholders who have long been dancing to the tune of major shareholders, now have a voice in major decisions affecting the operations of their […]
Centum CEO takes pay cut to earn Sh177.5m
Centum Investment chief executive James Mworia was corporate Kenya’s fourth best-paid manager last year with an annual compensation of Sh177.5 million or an equivalent Sh14.7 million per month. The Centum annual report released Monday shows Mr Mworia took a Sh41.7 million pay cut after getting a lower bonus cheque. The pay places Mr Mworia behind […]