(NAIROBI, KENYA) – Kenya’s Trade Ministry has promised to help exporters recover tariffs paid during the four month lapse of the United States African Growth and Opportunity Act trade pact. The move opens the door to a potential cash boost for manufacturers and agricultural exporters hit by higher duties. TheContinue Reading
(NAIROBI, KENYA) – Kenya’s budget deficit is expected to widen by KES 143 billion to KES 1.288 trillion. The increase is driven by higher interest payments on domestic debt and possible tax cuts ahead of the 2027 general elections. The deficit figure is equal to about $8 billion or £6.3Continue Reading
(NAIROBI, KENYA) – Jumia’s sales in Kenya reached a record KES 6.4 billion in the three months to June 2026. The figure is equal to about 49.7 million US dollars or 39.1 million British pounds. Strong demand for fashion and beauty items offset a fall in smartphone sales caused byContinue Reading
(NAIROBI, KENYA) – The Tax Appeals Tribunal has cancelled a KES 780 million tax bill against Bboxx Capital Kenya. The tribunal ruled that the Kenya Revenue Authority failed to prove how it arrived at the disputed tax assessment. The amount is equal to about 4.8 million US dollars or 3.8Continue Reading
(NAIROBI, KENYA) – Businesswoman Mary Wambui Mungai has failed in her attempt to remove the administrator appointed by Equity Bank to run her Glee Hotel Limited. The hotel owes the bank more than KES 7.75 billion, equal to about 47.8 million US dollars or 37.6 million British pounds. The HighContinue Reading
(NAIROBI, KENYA) – Kenya and Tanzania have restarted efforts to connect their standard gauge railway lines to Uganda, Rwanda and Burundi. Both countries are looking for new ways to pay for the rail projects because public funds are limited. Kenya began work last month on the section of railway fromContinue Reading
(NAIROBI, KENYA) – Pension fund returns fell to 18.2 percent in the 12 months to June 2026 from 29.4 percent a year earlier. The decline came as performance of fixed income securities dipped on lower interest rates and flat bond prices. Funds administrator Zamara says the average return from fixedContinue Reading
(NAIROBI, KENYA) – Nine small stocks at the Nairobi Securities Exchange have shed KES 2.25 billion in valuation this year. That is equal to $17.4 million or £13.7 million at current exchange rates. The losses run against the general market rally that has handed investors in other companies KES 1Continue Reading
(NAIROBI, KENYA) – The Kenya Revenue Authority has been blocked from demanding taxes on service charge collections by building and estate managers. The ruling follows a four year dispute with Nextgen Mall Management Company. The Tax Appeals Tribunal ruled that Nextgen Mall Management Company only handled funds as a conduitContinue Reading
(NAIROBI, KENYA) – Co-operative Bank of Kenya has posted a 28 percent growth in net profit to KES 18.02 billion in the first half of the year ended June 2026. The growth was driven by increased interest and non-interest income. The profit figure is equal to $139 million or £109Continue Reading
