The Kenya Revenue Authority (KRA) has reportedly lost its court case to collect billions of Kenyan Shillings from betting companies for the timeframe between 2018 and 2019. This is because the Judge presiding over the case ruled that tax on winnings during that time, did not involve the amount used to wager. According to reports the Kenya Revenue Authority (KRA) had intended to tax both the amount wagered and the amount that had been won as Winnings. The High Court Judge; David Majanja stated that the Kenya Revenue Authority (KRA) was not clear because the definition of Winnings had not…
Author: Tobey
In a move aimed at protecting the smaller telecommunications companies the rates or call charges placed by Safaricom on its rivals for ending calls on its network, could soon be controlled by the Kenyan government. With the new regulations which intend to stop dominant telecommunications companies from making any profits from Mobile Termination Rates (MTRs), telecommunications giant; Safaricom will only charge enough fees to cater for the costs of interconnecting calls from its competitors. The Kenya Information and Communication (Interconnection) Regulations 2022 will now make it possible for the Communications Authority of Kenya (CA) to control the rates of interconnecting…
The prices of land and city homes in Nairobi and towns around Kenya’s capital are now experiencing major increases due to increased demand from buyers who had reduced purchases as a result of the economic difficulties brought on by the still ongoing Coronavirus pandemic. Data released by Real Estate company; HassConsult revealed that in the year leading up to March of 2022 the average price of an average house within Nairobi increased by 6.8 percent when compared to the 1.8 drop experienced during the same period in the previous year. This is the fastest increase the sector has experienced since…
Data by Consumer data company; Statista has revealed that the rent for apartments in the Central Business District (CBD) in Nairobi is now as much as 126 percent more expensive than the rent costs for apartments and properties in other areas around Kenya’s capital. In the Nairobi Central Business District (CBD) the rent for a one bedroom apartment is around 432.33 United States Dollars (which is around 50,000 Kenyan Shillings) per month while a one bedroom apartment in the suburbs goes for around 191.33 United States Dollars which is around 22,000 Kenyan Shillings per month. The rent for a three…
Inflation in the East African nation of Kenya has now hit a Seven (7) month high due to simultaneous increases in prices of vital items like cooking gas, cooking oil and Soap in the past twelve (12) months. This resulted in the spending power of households getting even more severely stretched. On Thursday the 28th of April 2022 the Kenya National Bureau of Statistics (KNBS) revealed that the inflation which is a measure of yearly changes in the cost of living, reached 6.47 percent in April of 2022 from the 5.56 percent that was the case in March of the…
Manufacturers of cosmetics, soaps and cooking oils are reportedly fearing a shortage in supply for their raw materials after major global exporter; Indonesia threatened to issue a ban on its exportation of palm oil. The news has led to significant fears of products becoming rationed in the near future, resulting in prices going sky high. The prices of Cooking Oil have reportedly begun to rise by as much as over 30 percent since the later part of 2021. Household Cooking Oil brand names like Elianto can no longer be found on supermarket shelves. The announcement by the world’s largest producer…
Telecommunications giant; Airtel Kenya has paid 1.13 Billion Kenyan Shillings (which is around 10 million United States Dollars (USD)) to the Kenyan government in fees for a network license to enable it further cater for the increase in demand for its mobile data services. The Communications Authority of Kenya (CA) which is the industry’s regulator revealed that Airtel Kenya paid the sum in question in April of 2022 and paved the way for its use of the new spectrum for a period of ten (10) years. Airtel Kenya had previously temporarily acquired the license for a period of two (2)…
According to reports one of Kenya’s most iconic hotels; the Hilton Hotel, will be shutting down indefinitely in December of 2022. The move will lead to lay offs of a significant number of workers and is more proof of the struggles that the hotel industries worldwide are still going through because of the Coronavirus pandemic. Hilton Hotel which is partly owned by the Kenyan Government (40.57 percent), has also singled out a number of other reasons (apart from the Coronavirus pandemic) for its decision to close its doors at the Centre of the Nairobi Central Business District (CBD) after over…
The prices of petrol in Kenya will rise to the highest levels in the history of the East African nation. This is unless the Kenyan government decides to subsidize the increasing costs of crude oil which might escalate the public’s outcry over the increasing costs of living. According to estimates by oil marketers fuel prices could increase by as much as 40 Kenyan Shillings per litre if subsidy is absent. This will also move the cost of Diesel and Petrol in Nairobi to 155.60 Kenyan Shillings per litre and 174.72 Kenyan Shillings per litre resulting in the highest fuel prices…
Entrepreneur and Billionaire business magnate; Elon Musk is now the largest shareholder in popular microblogging and social networking service; Twitter, after purchasing a 9.2 percent stake in the company. According to a document filed with the United States (US) Securities and Exchange Commission (SEC) revealed that Elon Musk bought almost 73.5 million shares worth 3 Billion United States Dollars in Twitter. This means that the Tesla co-founder who is also the richest man in the world with an estimated net worth of 273 Billion United States Dollars, now owns more than four (4) times the shares that Jack Dorsey who…
Yes, you read that right an Airbus A380 took flight completely fueled by Sustainable Aviation Fuel (SAF). The Sustainable Aviation Fuel (SAF) is a kind of biofuel that depends heavily on organic materials. The aviation industry is looking to this kind of fuel with the expectation that it would reduce the entire industry’s dependence on traditional fossil fuels and also result in reduced carbon emissions. For the Airbus A380’s flight which took off from the Blagnac Airport in Toulouse, France (TLS), a total of 27 metric tons of unblended Sustainable Aviation Fuel (SAF) was provided by energy company; Total Energies.…
The Nairobi Metropolitan Services has revealed that the relocation of all Public Service Vehicles (PSVs) from the Nairobi City Centre will start from April of 2022. Among the first that will feel the impact are the Matatus using Lang’ata road, Argwings Kodhek road, Ngong road, as well as the Public Service Vehicles (PSVs) from the Mount Kenya region. What this means is that operators will now end journeys outside Nairobi’s City Centre. The Director for the Nairobi Metropolitan Services (NMS) Transport and Public Works; Engineer Michael Ochieng made it known that the Park Road terminus, the Desai terminus, and the…
The Democratic Republic of Congo (DRC), is now a part of the East African Community (EAC). This is after the East African Community (EAC) Heads of State admitted the country into the regional bloc. The development makes the Democratic Republic of Congo (DRC) the seventh member and newest member of the East African Community (EAC) after South Sudan. The President of the Republic of Kenya; President Uhuru Kenyatta made it known while speaking to the East African Community (EAC) Heads of State that the addition of the Democratic Republic of Congo (DRC) into the community would aid in the achievement…
A 250 million United States Dollar (28.75 Billion Kenyan Shilling) International Development Association (IDA) credit has been approved by the World Bank for a New Agricultural Value Chain Development Project (NAVCDP) in Kenya. The New Agricultural Value Chain Development Project (NAVCDP) will be looking to increase the market participation and addition of value for 500,000 small scale farmers in the East African nation Kenya that are engaged in nine (9) value chains spread across 26 counties. The 26 counties in question include Nyeri, Embu, Kirinyaga, Kiambu, Murang’a, Meru, Kitui, Makueni, Machakos, Uasin Gishu, Nandi, Trans-Nzoia, Nyandarua, Kericho, Bomet, Narok, Nakuru,…
