Competition Authority Seeks More Powers to Deal with Abuse of Buyer Power
The Competition Authority of Kenya (CAK) is seeking a nod from the parliament to amend some of its laws in response to emerging issues in the market, including expanding its [...]
Absa Bank Kenya Q1 Profit Rises to KSh 5.9 Billion
Absa Bank Kenya’s profit after tax for the first quarter of this year has grown 34 per cent to KSh 5.9 billion from KSh 4.5 billion during the same period [...]Safaricom’s Spark Accelerator Unveils 9 Startups in First Cohort
Leading telco Safaricom has unveiled the first cohort of nine startups in its restructured Spark Accelerator Program. The program, implemented by iHub, aims at growing and scaling commercially viable businesses. [...]Gov't Slaps Food Imports and Exports with Levies
The Agriculture and Food Authority has imposed a 2% levy on customs value for the importation of cereals and a 0.3% levy for its exportation. The mentioned levy will be [...]KCB Raises Base Lending Rate to 15.6%
Both new and existing loans issued by KCB will be affected by the hiked interest rates announced by the institution on May 27th. We wish to advise you that the [...]How to File Nil Returns in Kenya.
To file nil returns to the Kenya Revenue Authority (KRA) is a non-negotiable responsibility for all registered taxpayers holding a KRA pin. Whether you're a resident individual or a non-resident [...]
Standard Chartered Kenya Q1 Profit up 39.5% to KSh 5.62bn
Standard Chartered Bank Kenya recorded a 39.5% increase in profit to KSh 5.62bn for the first quarter of 2024, up from KSh 4.03 bn in the same period in 2023. [...]African Businesses Missing Out on Fruits of Digitalisation-IFC Report
African businesses have not digitalised enough to reap the full benefits of technology, the International Finance Corporation has stated in its Digital Opportunities in African Businesses report. An overview of [...]Kenya Power to Interrupt Pre-Paid Tokens on June 2nd
Utility provider Kenya Power has advised customers to buy enough tokens before Sunday 2nd June ahead of a planned 24-hour system interruption that will render the pre-paid service unavailable. We [...]Khat Dealers Lose Key Coastal Markets Following Ban
The Mombasa and Kilifi County Governments have issued new directives with far reaching consequences on traders and the farmers of muguka, which is a variety of Khat. “Scientific evidence has [...]What Tax Experts Think About Finance Bill 2024
Broadly, the Finance Bill 2024 continues the trend witnessed last year with new taxes as well as increases in existing taxes as the Government attempts to collect more. However, these [...]
Carrefour Loses Appeal Challenging Abuse of Buyer Power Verdict
Retail store Carrefour has suffered a setback after the high court in Nairobi trashed an appeal against an abuse of buyer power verdict by the Competition Authority of Kenya (CAK) [...]
