Tax Raider or Budget Artist? Unpacking the Controversial 2024 Budget with Prof Njuguna Ndung’u The June 2024 issue of Nairobi Business Monthly is a must-read for anyone invested in Kenya’s economic future. With a hard-hitting cover story titled “Tax Raider or Budget Artist?”, the magazine dives deep into the contentious 2024 Budget introduced by Treasury CS Prof Njuguna Ndung’u. This issue unpacks the myriad of reactions and implications surrounding the new tax and spending measures, exploring whether they will aid in economic recovery or push Kenya further into fiscal turmoil. Inside This Issue: Economy and Governance Sh600 Million Lab for…
Author: NBM CORRESPONDENT
In a significant win for Finsco Africa and Legacy Ridges, the High Court in Kiambu has dismissed a petition aimed at halting key documentation processes that includes issuance of title deeds for a property development project they jointly undertook. Lady Justice Abigail Mshila, in her ruling, upheld a preliminary objection dated May 11, 2023, thus clearing a major hurdle for construction work to go ahead. “The application is found to be incompetent and it is hereby struck out,” said Lady Justice Mshila, pointing out the legal deficiencies in the petition brought before the court. The legal battle centered around a…
By Alex Kanyi Kenya has begun to implement the Public Benefit Organisations (PBO) Act, which enhances societal progress by advocating issues of public interest, marking the end of a decades-long court battles and opposition from various administrations. The new legislation replaces Non-Governmental Organisations Co-ordination Act of 1990, but questions linger about the impact it will have on civil society and PBOs. Will it do enough to spur societal progress? With the robust regulatory framework governing non-profit entities in Kenya, PBOs now have certainty about the registration process, compliance issues and generally how to carry out their activities as the Act…
Kenya Tourism Board (KTB) will work with social media influencers from various African countries, including Uganda, Ethiopia, Rwanda, and Tanzania to enhance the visibility of Kenya’s tourism destinations. Speaking at the East Africa Community (EAC) influencer familiarization dinner, KTB’s director of market development Betty Ichan, said influencers would showcase the magic, diversity, authenticity, sustainability, and all-year-round nature of Kenya’s tourism destinations. “Africa is our key focus market, which is why we have engaged influencers from East African countries to help us showcase Kenya’s rich tourism offerings. This is part of our broader strategy to position Kenya at the forefront of…
In recent years, there has been a surge in self-catering holidays in Kenya. This is inspired by the growing trend of staycations, making holiday letting a more appealing investment. The pandemic revealed that many of us would have liked to have a holiday home to retreat to, providing us with enough room to work, relax and spend quality time with our family and create memories. Investing in a holiday home has become increasingly popular recently due to the emergence of digital real estate marketplaces such as Airbnb and the rise of remote working. People may choose to purchase a holiday…
I have a unique perspective on “Bare Minimum Monday”, which entails people completing only the essential tasks, especially on Mondays. I was meant to turn in this article on Monday, but here we are today, Tuesday. Wondering why? It is simply because it was a Bare Minimum Monday, a recent TikTok trend meant to encourage employees to reduce the pressure to perform and make Monday a less daunting day. The transition from a relaxing weekend to a busy or stressful work week can stir up Sunday blues, a dreadful feeling you get when thinking about impending workweek, school week, or…
You have just defaulted on your loan. Or you need to pay up for some important items. This gets you into serious problems, so you go ahead to think of “uncommon jobs” to get the much-needed cash, if all goes well, manage to deal with the challenging situation. Here is how to get started: 1.Coin Vendors There are people who exchange coins for notes. For every Sh100 note, a customer would in return receive Sh90 coins. Personal Shoppers Did you know that there are “human glovos”? Instead of adding your items to a cart, you can contact a personal shopper…
Close attention is being paid to whether or not the European Commission will impose additional tariffs on imports of China-made electric vehicles (EVs) after its anti-subsidy investigation. From a protectionist perspective, additional tariffs may offer a temporary shield for European automakers. But in the long run, they will ultimately erode their competitiveness on the global stage. Before going deeper into the issue of possible new tariffs on China’s EVs, it may be helpful to review the findings of the book “Prosperity Through Competition” by Ludwig Erhard, a former chancellor of Germany. In this globally influential economics book, Erhard emphasized the…
Lamu County will host a joint five County Investment Conference later this month aimed at exploring innovative solutions to enhance climate resilience and stimulate economic development in the frontier arid and marginalised regions. Under the Frontier Counties Development Council, the county governments of Lamu, Tana River, Garissa, Wajir, and Mandera are set to organize a joint County Investment Conference taking place June 27, in Lamu County. Themed “Unveiling Opportunities: Redefining Northern Kenya as an Investable Destination,” the conference will focus on coming up with solutions and recommendations that will boost agriculture, tourism as well as explore potential opportunities that are…
The government is set to save Sh170 billion from the deal entered between the Kenya power company and ministry of ICT where Kenya power transmission lines are being used to roll out the 100 thousand fibre optic cable throughout the country, ICT and the Digital Economy CS Eliud Owalo has revealed. CS Owalo said the deal is not only cost effective but would also ensure efficiency in the delivery of the fibre optic cable by 2026 and not 2027 as was initially planned. “The use of Kenya power transmission lines to deliver the 100 thousand kilometers of fibre optic cable…