Author: Victor Adar

BY MUMBI MUTOKO AND VICTOR ADAR There have been fears that the tax man’s move to grow tax compliance levels would turn out to be messy. It was therefore not a surprise when a business boldly declared on social media that it will no longer accept payments through mobile money options.  Whoever circulated the photograph, which went viral on X (formerly Twitter), Facebook and Instagram, had a tax evasion strategy. And the business owner is not alone – the anxiety has swept through the business community, leading some to put up signs that politely request customers to pay for products…

Posta Kenya is in the process of transforming its outlets into comprehensive communications solutions hubs, offering a spectrum of services, including e-Payment, e-Governance, and E-commerce, among other innovations. Speaking during the commemoration of the 148th World Post Day in Nairobi, John Tonui, the Postmaster General and CEO of Postal Corporation of Kenya said postal services are a key contributor to the growth of e-commerce, with Business to Customer (B2C) e-commerce being most effective where there is high reliability of postal services. Christopher Wambua, Ag. Director General, Communications Authority of Kenya said the government was instituting regulatory and policy interventions geared towards catalyzing…

Government supports automotive sector to ensure the industry realizes its full potential, says CS Miano BY VICTOR ADAR The government has assured local automotive solution providers and investors of further support in adopting new-generation mobility solutions. Speaking during tour of Toyota Manufacturing Plant in Nagoya, Japan, Ministry of Investments, Trade and Industry (MITI) Cabinet Secretary (CS) Rebecca Miano said the government will continue collaborating with automotive sector stakeholders to ensure the industry realizes its full potential. In return, Ms Miano urged automotive sector players led by Toyota Tsusho corporation to return the favour by scaling up their local assembly and…

Family Bank has received formal approval from shareholders to offer up to 800 million new shares through a rights issue, a move that will increase the lender’s issued authorized ordinary shares from the current 1,500,000,000 to 2,300,000,000.  Through this increase in ordinary shares, the bank aims at raising up to Sh10 billion in the medium term. The capital raise will be achieved through a mix of a rights issue and from new shareholders via a private placement. “Through this capital raise, we are positioning the bank for the next phase of growth which will position the bank as a choice…

In the last two years, attention has been on Kenya’s deepening public debt as signs of fresh economic pain loom. According to data from the Central Bank of Kenya (CBK), the total public debt stood at Sh10.2 tn as of June 2023, compared to Sh8.6 tn recorded in June 2022. Kenya’s debt composition has been evenly distributed between domestic and external borrowing. However, the challenge is that, since the beginning of 2023, there has been a shift towards external borrowing with external debt against domestic debt swinging from 54.3% to 45.7% in September 2023, compared with 49.8% to 50.2% observed…

Beatrice Mwangi, 29, vividly remembers the good old days when she had to move around Nairobi with her mum, grabbing an opportunity to be exposed to different social set ups and markets. Now she works with Superior Homes Kenya Ltd in the capacity of a retail manager at Arcadia, Green Park, which is a short distance from Mombasa road. A proud mum to a 6-year-old boy, Ms Mwangi was born and brought up in Buru Buru Phase 1, Nairobi. She attended Silver Gate Academy (primary school) and thereafter joined Mt. Laverna Girls High School. After the Kenya Certificate of Secondary…

Corrupt government officers, often fixated on procurement deal kickbacks, are responsible for lost public funds, stalled projects, meaningless investments, dysfunctional infrastructure, and even tax evasion. The latest in the graft drama series is former Athi Water CEO Michael Thuita (who has so far resigned), who was accused of embezzling water project funds and suspended. The theatre that followed played out in the public gallery, as the cabinet secretary and her PS engaged in an open war for supremacy, based on who is closest to State House. The allegations levelled against the CEO demonstrate the current trend where senior government officials…

Innovative solutions for various customer segments to be introduced include e-commerce payments, cross border payments, community pass for farmers and small businesses, QR and tap on phone. Equity Bank has signed a Customer Business Agreement with Mastercard in an effort to give customers a broad range of payment solutions benefits ranging from World and World Elite cards, corporate cards and virtual cards. Customers will also be able to perform a range of payments including cross border remittance, e-commerce payments, QR and Tap on phone solutions. Additionally, the broad range of services and benefits that customers will enjoy has been informed…

Arrangements to onboard 100 students get into high gear at the level six Kenyatta University Teaching, Referral and Research Hospital (KUTRRH) KUTRRH has commenced plans to receive the first cohort of 100 Kenyatta University (KU) School of Medicine students following the facility’s recent accreditation as a teaching centre for the university. As part of the plans, KUTRRH CEO Mr Ahmed Dagane has formally submitted a “request for placement” note with KU Vice Chancellor Prof Paul Wainaina to facilitate the necessary procedures. At KUTRRH, KU School of Medicine, undergraduate and postgraduate students will enjoy access to medical training amenities, including wards…

Kenya’s business landscape has witnessed its fair share of challenges, including high interest rates. When the government is focused on controlling inflation with high interest rates, small-scale businesses, which rely heavily on credit, bear the brunt. With access to credit drying up, these businesses find it difficult to operate normally and experience growth. This has also seen commercial banks deem small-scale businesses risky to default; thus, most are unwilling to lend to this bracket.  High interest rates have also led to the rise in the cost of borrowing and consequently limiting the level of aggregate investment and consumption and the…