Workers at an assembly line at Twyford Ceramics, a Chinese tiles manufacturing company, in Kajiado County, Kenya. PHOTO | XINHUA Kenyan manufacturers facing liquidity challenges due to the Covid-19 pandemic are up in arms against the government over new tax increments. They argue that new taxes, high cost of electricity, high import declaration fees among […]
Your greatest advantage today can turn into your worst drawback tomorrow. Such is the vagary of life that NCBA, the third-largest bank in the country, is grappling with after President Uhuru Kenyatta signed into law the Finance Bill, 2021. With the ratification of the Bill, all the lenders with mobile lending and saving platforms have […]
Today, while online commerce is not synonymous with the whole of retail, both e-commerce and physical retail can be seen as equals/FILE – Jeremiah Wakaya The Covid-19 pandemic continues to revolutionize not just individual lives but also traditional facets of the society at large. Prior to the onset of the global health crisis, commerce was […]
A son-in-law to the late billionaire businessman Chris Kirubi has been appointed to the board of Centum Real Estate, pointing to a possible ongoing re-organisation of the deceased tycoon’s empire. Centum Real Estate, a subsidiary fully-owned by the Nairobi Securities Exchange (NSE) listed Centum Investment Company, has appointed Andrew Musangi to sit on its board […]
Stanchart chief executive Kariuki Ngari (left), NCBA boss John Gachora (centre) and Absa’s Jeremy Awori. FILE PHOTOS | NMG Ten Nairobi Securities Exchange-listed firms cut their executive bonuses by Sh284 million last year in the wake of reduced profitability that was largely caused by the economic fallout from the Covid-19 pandemic. KCB , Absa Bank […]
A 2016 study by global consultancy PwC states that an estimated 90% of sales in Africa’s major economies come through informal channels like markets and kiosks. In sub-Saharan Africa, 90% of these household retail transactions are carried out via a network of about 100 million MSMEs. Africa’s retail payments, mostly cash-based, is expected to reach […]
Safaricom paid Sh1.4 billion worth of M-Pesa technical support fees to M-Pesa Africa, a company it owns on a 50/50 basis with its South African parent firm Vodacom Group. The fee was paid in the year ended March at a rate of two percent of the telco’s M-Pesa revenue of Sh82.6 billion in the review […]
A person holds up a wad of new Kenyan currency notes in Ksh.1,000 denomination. Photo: File Amendments to the the Excise Duty Act carried in the 2021 Finance Act effected a 20 per cent duty charge to fees and commissions on loans, a change which took effect on July 1. AIB-AXYS projects the new taxes […]
A woman makes a transaction at an MPESA shop Safaricom subscribers who borrow from the telecommunications firm’s overdraft service namely Fuliza will have to pay extra fees after the telco increased daily interest fees. Subscribers on Tuesday started receiving messages on their mobile phones notifying them of the increase. Safaricom said it had increased the […]
NAIROBI, July 5 (Reuters) – A consortium led by Kenyan telecoms operator Safaricom SCOM.NR has appointed Anwar Soussa as managing director of its Ethiopian unit, which is scheduled to start operations next year, Safaricom Chief Executive Peter Ndegwa said on Monday. The consortium, which includes South Africa’s Vodacom VODJ.J and Britain’s Vodafone VOD.L, won an […]
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