The Kenya Revenue Authority (KRA) has reportedly collected a total of 476.646 Billion Kenyan Shillings between July and September of the 2021 to 2022 financial year. This has surpassed its revenue target of 461.7 Billion Kenyan Shillings by 14.992 Billion Kenyan Shillings. The sustained revenue growth, is a reflection of a 30 percent growth and a performance rate of 103.2 percent. Read Also: Overstayed Cargoes At Mombasa Port Set To Be Auctioned By KRA Although there has been a slow growth in the economy the Kenya Revenue Authority (KRA) was able to surpass the revenue target it set for July…
Author: Tobey
The East African Breweries (EAB) Plc has secured approval from the Capital Markets Authority (CMA) to put up Medium-Term Notes worth 11 Billion Kenyan Shillings through its domestic Medium-Term Note programme. All proceeds from the Fixed-rate Notes will be used by the East African Breweries (EAB) Plc to execute the repayment of funds borrowed by the business in a bid to provide working capital for the company across East Africa. It will also be used in the refinancing of a number of short term loans. According to the East African Breweries (EAB) Plc the issuance of the notes will not…
Popular meats products dealer; Farmers Choice Limited, has won the fight concerning the ownership of a piece of land in Kiambu worth 5 billion Kenyan Shillings, and measuring 248 acres. A court overruled a request by the Kiambu County government which wanted the suspension of the implementation of a ruling that voided the decision by the National Land Commission, to revoke Farmers Choice’s title. What this means is that the company; Farmers Choice will now retain ownership of the land and will also continue to use said land. The Kiambu County government wanted Justice Lucy Gacheru to order a temporary…
East Africa’s leading real estate developer; Centum Real Estate, is now looking to interest investors and potential homeowners, with one bedroom houses worth 4 million Kenyan Shillings and situated at Ngong road and Mombasa road. The move is being seen as the real estate developer’s strategy for increasing its revenues after it experienced a drop in its half year profits. According to reports, Centum Real Estate which is a subsidiary of Centum Investment Company, is looking to get into Joint Venture (JV) agreements with land owners for the building of housing units along Ngong road after Junction Mall, and along…
According to reports WhatsApp, Instagram, Facebook, and Facebook messenger are all down. Users worldwide, are confirming that they are indeed experiencing issues with said services. Popular website; DownDetector made it known that the downtime being faced by the four platforms owned by Facebook and which began sometime this evening, is affecting users all over the world. The social media giant; Facebook, has however released a statement via Twitter, stating that it was working to get said platforms back up. The statement by Facebook read, “We’re aware that some people are having trouble accessing our apps and products.” Read Also: How…
Telecommunications company; Safaricom, is reportedly setting its sights on the Billions of Kenyan Shillings to be gained in revenues from the installation of smart meter systems for public water companies so as to help them reduce theft and leakages. The utility companies which are controlled by the Kenyan Government have reportedly been struggling with system losses yearly. An average of 47 percent of the water channeled into their distribution networks have not been billed as a result of theft, inaccuracies with regards to metering, and leakages. The telecommunications giant; Safaricom is offering to provide technology which would make it possible…
The High Court in Kenya, has stopped a move by the Kenya Revenue Authority (KRA) to increase the excise duty on not less than 31 goods from the 1st of October 2021 pending the verdict of a suit that opposes the said taxes. The 31 goods include Bottled Water, Beer, Juice, and Fuel. Justice James Makau Monday decreed a temporary freeze on the plan by the Kenya Revenue Authority (KRA), stating that the case which is challenging the new taxes is likely to be successful. A total of two individuals, had petitioned the court seeking that it stop the incoming…
Whether you are looking for some additional money every month or operating a side hustle, passive income can be an amazing way to help you create an extra cash flow source. Passive income ensures that you stay afloat during tough times like what was the case when the still ongoing Coronavirus pandemic hit, or if you somehow need a break from your regular 9 to 5. It is also a major plus knowing that you have one more or several other avenues where you are making money from. Having passive income essentially means that you have other revenue that are…
A United States (US) company contracted to construct the 300 billion Kenyan Shilling Nairobi to Mombasa Expressway has reportedly rejected the offer from Kenya stating that it should build the road and then recoup its expenses by putting in place toll charges or fees for motorists. The Parliamentary Budget Office (PBO) made it known that Bechtel which is the American company that has been contracted, opted for a model where the Kenyan government pays it outright for the construction of the Nairobi to Mombasa road as opposed to recouping via user fees. What this means is that the Kenyan Government…
Telecommunications giant; Safaricom will be carrying out a maintenance exercise on its mobile money service; M-Pesa today Monday the 27th of September 2021 and end on Tuesday the 28th of September 2021. According to Safaricom, the maintenance exercise will take place between the hours of 11:59 pm tonight, to 4:00 am tomorrow morning. During the planned exercise all M-Pesa services including the purchasing of airtime, will be inaccessible. This means that all individuals in Kenya who make use of or depend on the Mobile money service by Safaricom, would need to make the necessary arrangements and adjustments in case of…
American over-the-top content platform and production company; Netflix announced this week, that it will be launching a new plan in the East African nation of Kenya. The new plan will be entirely free, and users will have a significantly limited amount of content to choose from. The free plan, will also only be available for users who stream via Android phones. Kenya has over 20 million internet users. Netflix which has its headquarters in in Los Gatos, California, United States believes that by providing a tier that is 100 percent free and that comes with one fourth of all its…
Whether you are looking for some additional money every month or operating a side hustle, passive income can be an amazing way to help you create an extra cash flow source. Passive income ensures that you stay afloat during tough times like what was the case when the still ongoing Coronavirus pandemic hit, or if you somehow need a break from your regular 9 to 5. It is also a major plus knowing that you have one more or several other avenues where you are making money from. Having passive income essentially means that you have other revenue that are…
Telecommunications giant; Safaricom is poised to earn 53.5 billion Kenyan Shillings for the installation of smart electricity meters for the large consumer base of Kenya Power and Lighting Company (KPLC) which is more commonly known as Kenya Power. The deal is expected to help limit the cases of leakages and power theft, while also solving the weaknesses on the transmission network for Kenya Power and Lighting Company (KPLC). The telecommunications company; Safaricom is looking to put in place a 31 billion Kenyan Shilling smart system that will be able to connect a total of 330,300 electricity meters to a central…
The Kenyan Parliament has sent for the Cabinet Secretaries (CSs) for Petroleum and Energy regarding the removal of the fuel subsidy which was carried out on Tuesday the 14th of September 2021 and has resulted in the pump prices in the country hitting historic high levels from midnight of the same Tuesday. Kenneth Lusaka who is the Senate Speaker directed the Petroleum Secretary; John Munyes and the Energy Secretary; Charles Keter to appear before the house on Tuesday the 21st of September 2021. The Kenyan Government lifted the subsidies of 11.36 Kenyan Shillings for Kerosene, 9.90 Kenyan Shillings for Diesel,…
