EABL Relief as Government Grants Tax Exemption on Select Beer
Relief has dawned on East African Breweries Limited (EABL) after the government exempted excise tax on alcohol made from sorghum, millet and cassava by 95%. This comes at a strategic [...]
Treasury Needs Austerity Measures to Reduce Mounting Debt
The National Treasury should spend within its means to reduce pressure from the mounting debt. Treasury CS, Ukur Yattani stressed the need to retain austerity measures beyond the current financial [...]
Kenya Power Plot to Curb Illegal Connections
Kenya Power has roped in the police as well as Directorate of Criminal Investigations (DCI) officers to deal with criminals engaged in illegal power connections, theft of power and vandalism [...]
Tullow Oil Writes off KSh80 Billion Exploration Costs in Kenya and Uganda
Tullow Oil has written off $800 million (KSh80 billion) of its explorations costs in Kenya, and Uganda due to a lower oil price forecast and a reduction in reserves. Moreover, [...]How State Spent Your Money in Q3 2019
A budget review report by the Controller of Budget indicates that the Government huge chunks of its cash on paying teachers’ salaries, transfers to semi-autonomous state agencies and footing the [...]Private Sector Credit Growth Accelerates to 7.3% in November
In November 2019, private sector credit growth jumped to 7.3% after a prolonged period of slow growth. This is welcome news for many businesses that lacked access to funds. The [...]
Locusts Outbreak Threatens Food Security Warns IGAD
The Intergovernmental Authority on Development (IGAD) warns that the locusts outbreak threatens food security in East Africa and the Horn of Africa region. According to Dr. Workneh Gebeyehu, IGAD Executive [...]Treasury to Cut Spending Due to Declining Revenues
National Treasury CS, Ukur Yattani has stated that austerity measures will continue beyond the current financial year. Furthermore, Ukur Yattani, CS National Treasury, said that parastatals, ministries, and government agencies [...]Tariff on Kenya's Avocado Exports to China Slashed to 7%
The tariff imposed on Kenya's avocado exports to China has been lashed from 30% to 7%, a move that is likely to see farmers hugely benefit from the trade. The [...]Longhorn Appoints Michael Mwaura as CFO
Longhorn publishers appointed Mr Michael Mwaura as the Chief Finance and Operations Officer, with effect from 1st January 2020. Mr Mwaura previously worked with PriceWaterhouseCoopers (PwC) in Kenya, Tanzania and [...]Will MPC Cut the Central Bank Rate or Not?
The bi-monthly monetary policy committee meeting is set to take place on the 27th of this month. The Central Bank committee headed by Governor Patrick Njoroge meets every two months [...]Kenya's President orders KTDA bosses probed
President Uhuru Kenyatta has directed the competition watchdog to look into the activities of Kenya Tea Development Agency (KTDA) to break the cartels that have been running the show at [...]
