CAK, Director General, Wang’ombe Kariuki. FILE PHOTO | NMG It is now clear that the Competition Authority of Kenya (CAK) is a watchdog with a real bite and not just a bark. The competition regulator, approaching its 10th birthday, has been keen to clamp down on market activity that falls foul of the Competition Act. […]
Kenya has emerged as one of the top countries in sub-Sahara Africa in the handling of alternative finance models. This is even as consumers and businesses increasingly go online for their capital needs. A study by the University of Cambridge’s Centre for Alternative Finance indicates that the value of alternative finance in Kenya last year […]
The value of shares traded on the Nairobi bourse yesterday hit a three-year high, buoyed by a rally in Safaricom and banking stocks that has seen investors gain Sh207.5 billion since mid-May. Nairobi Securities Exchange (NSE) data showed that the market gained for the fifth day in a row to close trading at Sh2.7232 trillion—a […]
Safaricom headquarters on Nairobi’s Waiyaki Way. PHOTO | DIANA NGILA The State has exempted ringtones from excise tax in a bid to increase the amounts that local artistes earn from the use of their songs in mobile phone. The removal of the tax on the ringtones is contained in changes to the Excise Duty Act […]
Airtel has increased the cost of making calls by up to Sh0.78 in response to the increase in the excise duty on airtime and data. The telco in short messages (SMSs) to its subscribers said calls to other networks will cost Sh2.78 per minute up from Sh2 effective Friday. The changes will hurt subscribers already […]
The cost of mobile digital loans will increase by a larger margin compared to ordinary bank credit. FILE PHOTO | NMG Borrowers of digital loans will bear the brunt of the 20 percent tax on fees and commissions earned on bank credit that took effect on July 1. All or a significant portion of fees […]
KEY POINTS Sasini was the top gainer of the day with 6.82 percent at the price of 18.00 shillings per share followed by Total Kenya with 5.60 percent at the price of 25.45 shillings per share. Stocks are a popular avenue for investment, but it’s far from the only option. Depending on your needs, income […]
Kenyans seem to have a trance-like romantic affair with their mobile phones such that they barely notice a pronounced bump in the price of calling and browsing. It is a blissful ignorance that the government has greedily exploited. In the last decade, the National Treasury has gradually been turning up the excise duty (sin tax) […]
JOHANNESBURG, June 30 (Reuters) – Ethio Telecom has signed up 4 million Ethiopians for a mobile money service that it launched in May, a document published by the Finance Ministry said, as the government seeks to sell a stake in the state-owned company. The Telebirr service allow users to send and receive money, deposit or […]
President Uhuru Kenyatta signs the Division of Revenue Bill, 2021 into law at State House, Nairobi, on April 30, 2021. PHOTO | PSCU President Uhuru Kenyatta holds the key to the enforcement of new taxes that could make bank loans, Internet access and mobile phone calls costlier from tomorrow. The President has the option to […]
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