National Assembly Rejects Proposed Reduction of Betting Tax to 15pc
The National Assembly has turned down Treasury’s proposal to reduce the gaming tax from 35 percent to 15 percent of revenue earned. The proposed Bill, which was submitted to the [...]
President Kenyatta orders transport minister to prioritise allocation of funds for Eastern Bypass extension
According to information obtained exclusively by the Indian Ocean Newsletter, President Uhuru Kenyatta is bringing pressure to bear on the government to ensure a return on his family's property investments. [...]
Rwanda's Largest Bank to Cross-List on Nairobi Securities Exchange
Bank of Kigali, Rwanda’s largest commercial bank by assets has announced plans to cross-list its shares on The Nairobi Securities Exchange following a shareholder approval at the company's AGM. Reports indicate [...]Safaricom Foundation Launches New 3-Year Strategy
Safaricom Foundation yesterday launched a new three-year (2018-2021) strategy plan covering the health, education, and economic empowerment pillars. Under the strategy, the Foundation will continue to offer immediate financial aid [...]UK's Lag in Economic Growth Could Adversely Affect Kenya's Economy- CMA Report
The United Kingdom's economic growth is expected to slow down to 1.4 percent in 2018 and to 1.1 percent in 2019 according to an economic forecast by the European Commission. [...]Safaricom FY2018 Results analysis
Safaricom PLC has been one of the companies at the NSE that has over the years grown its shareholder value driven by diversified revenue streams. For shareholders who bought shares [...]Treasury Invites Comments for the Finalisation of the Draft Income Tax Bill 2018
The National Treasury has invited institutions, organisations, and individuals to submit their comments for the finalisation and submission of the Draft Income Tax Bill. The Draft Income Tax Bill 2018 [...]Proposed Corporate Income Tax Increase Could Impact Business Investment- Deloitte Kenya
The National Treasury is currently in the final stages of reviewing the Income Tax Act with aim of easing tax administration and collection in the country. The review process has involved [...]KAM Recommends Restructuring of Public Energy Firms to Boost Manufacturing
The Kenya Association of Manufacturers (KAM) has recommended the restructuring of KenGen, KPLC, and KETRACO as a means of providing quality and affordable energy to improve manufacturing competitiveness. Speaking at [...]Kenya Ranks Top in East Africa in Access to Electricity- World Bank Report
Kenya has the highest electricity access rate in East Africa according to the most recent World Bank report which tracks sustainable energy achievements globally. The World Bank released the Energy [...]Little Ride Set to Launch in Uganda Eventually Nigeria
Little Ride, a Safaricom-backed taxi-hailing app developed by Craft Silicon, is set to launch in Uganda this month. This is will be first services offered by Little Ride outside Kenya. [...]Mobile Commerce Transactions in Kenya Pass the Sh1tn Mark
According to the Communications Authority of Kenya’s (CA) data, mobile commerce transactions increased by 64 percent to Sh1.1 trillion in the second quarter of 2017/18 from Sh714 billion in the [...]
