Rispah Simiyu is the new Commissioner for Domestic Taxes at the Kenya Revenue Authority (KRA) taking over from Elizabeth Meyo, who had served in the position since the first quarter of 2019. Her new role will see her handle a department that accounts for about 65% of the taxman’s revenue collections. As a deputy commissioner, she was able to grow the dispute resolution profile from the settlement of a mere 90 disputes in 2018 to 284 disputes in 2020. Having practised and consulted on tax matters in Kenya, Tanzania and Uganda, she is not new to tax regulation and is…
Author: NBM CORRESPONDENT
As demand for compliant ship breaking facilities increases, updates to legislation will open several opportunities for compliant facilities outside of the European Union. According to the Basel Ban Amendment, the exportation of hazardous waste, including end-of-life vessels from OECD (Organization of Economic Cooperation and Development) or ‘developed’ countries to Non-OECD or ‘developing’ countries is prohibited. This ban currently prohibits ship-recycling facilities located in non-OECD countries from being included on the European List of ship recycling facilities (EU List). The EU List records certified and compliant ship recycling facilities that have been approved by the European Ship Recycling Regulation (EU SRR). The EU SRR incorporates parts…
Australian social enterprise Thankyou has made a dramatic pivot to its funding model to join a growing movement of unconventional philanthropists seeking a new way to effectively help achieve the end of extreme poverty, rather than perpetuate it. Thankyou says that for 12 years, they believe their approach to giving contributed to a ‘broken’ system – a system built upon ‘donor dysfunction’. This ‘donor dysfunction’ affecting the NFP space is driven by the desire from donors, like you and I, to support projects that they can tangibly see and understand. We like cheap, simple, tangible solutions that make it easier…
Poland’s top court has affirmed the right to life of unborn babies with disabilities. The Constitutional Tribunal of Poland ruled that abortions on the basis that the child may have a disability violate the right to life protected in Article 38 of the Polish Constitution. The global human rights organization ADF International intervened to highlight the clear protections, which exist in international law for unborn children, including those with disabilities. It argued that screening out unborn babies based on disability violates a country’s obligations under international law. “Every human life is precious. Human rights protect all members of the human…
UAP Old Mutual Faulu Foundation has signed a partnership agreement with Simba Foundation to provide technical and entrepreneurship training to the youth. The partnership will see more than fifty youth benefit by acquiring training with a guaranteed paid internship. The program will start in three counties; Nairobi, Kisumu and Mombasa for three years. This will encourage Competency Based Education and Training (CBET) as the youth will learn as they earn. According to Adil Popat, Chairman of Simba Corporation Limited, the project is crucial in order to empower the youth. “As a Foundation we are proud to be championing the empowerment…
Sidian bank, formerly known as K Rep bank, has integrated more digital technology in its system by launching a revamped web-based application that will allow customers to generate bid bonds from any place or device. The latest product, which is known as Sidian Credible, is a self-service platform that conveniently responds to customers’ needs during the tender process. According to Sidian bank, which is a leader in trade finance, the platform is safe and secure. According to Chege Thumbi, Sidian Bank CEO, Sidian Credible is a huge milestone for the bank and the solution actually sets it apart as leaders/frontiers…
Relying on guidance from historical returns is the number one investment mistake made by millionaires, reveals a new global survey. The survey was carried out by deVere Group, one of the world’s largest independent financial advisory and fintech organisations, and queried 752 investors with investable assets of more than £1m in the UK, Europe, Asia, Africa, the Middle East, Australasia, Latin America and North America about their biggest errors whilst investing before they became clients. The top cited mistake (38%) was reliance on historical returns, the second (35%) was not having sought advice, and the third (21%) was lack of…
The Nairobi urban fabric will soon feature a new landmark with the development of a medium density-housing complex for the United States Department of State. The complex marks the first development in Kenya in a joint venture by Gateway Real Estate Africa (Gateway Africa) and Verdant Ventures, following a successful collaboration on a similar project in Ethiopia. Gateway Africa is a Mauritius-based private real estate development company specializing in the turnkey construction where by the developer undertakes all the activities required to complete a project such as purchase of land, permits, plans, and construction and sells the project to the…
African trade experts have called for the swift implementation of the African Continental Free Trade Area (AfCFTA) to lift Africa out of an economic downturn caused by COVID-19. Speaking at a trade forum in Dakar, Senegal, AfCFTA secretary-general Wamkele Mene said that the pandemic had, for the first time in 25 years, caused a contraction of GDP of between 2 to 5% in sub-Saharan Africa. “This decline will manifest itself in reduced exports and loss of employment, among other challenges,” said Mene. “However, it is projected that the implementation of the AfCFTA will boost intra-Africa trade by $35b, increase value-chain…
Investors should be expecting and preparing for significant market volatility in the event of a disputed outcome of the U.S. presidential election, warns the CEO of one of the world’s largest independent financial advisory and fintech organisations. The warning from Nigel Green, the chief executive and founder of deVere Group, came as President Donald Trump and his Democratic White House rival Joe Biden both wound up campaign rallies in the critical election state of Florida. Biden maintained a substantial lead over Trump nationwide, according to most polls. “Biden is leading in the polls and the markets have already priced-in victory…