In a groundbreaking decision that could reshape tax obligations for Kenyan companies, the Tax Appeals Tribunal (TAT) has ruled that withholding tax does not apply to management or professional fees paid to non-resident entities under the Kenya-France and Kenya-South Africa Double Tax Treaties (DTTs). The decision, delivered on August 30, 2024, offers significant clarity for […]
In a landmark move set to reshape Kenya’s payment landscape, Visa, the global digital payments giant, has awarded Safaricom Plc a Payment Facilitator Certificate. This certification marks a new phase in the partnership between the two companies and paves the way for Safaricom to expand its merchant payment options. The initiative will now allow over […]
In a bold move set to reshape Kenya’s cement industry, Savannah Clinker Limited has submitted a Ksh 25.4 billion counter-offer to acquire up to 100% of Bamburi Cement Plc shares. This follows formal approval from the Capital Markets Authority (CMA), marking a significant turn in the competition to take over the leading cement manufacturer. Savannah […]
This Saturday, over 320 golfers from across Kenya are set to converge at the par-73 Ruiru Golf Course for the much-anticipated Legendary Golf Tournament. The event, which brings together professionals from various disciplines, promises a competitive and entertaining day of golf, capped off with live band music in the evening. The tournament, hosted by the […]
In a significant development within Kenya’s energy sector, Adani Energy Solutions Limited (AESL), formerly known as Adani Transmission Limited, has officially initiated a major infrastructure plan involving three large-scale power transmission projects. The projects are poised to significantly boost the capacity and reach of Kenya’s electricity grid, catering to the ever-growing demand for reliable energy […]
The impending closure of Base Titanium, Kenya’s largest mining company, located in Kwale County, is raising alarms within the country’s mining industry. The Mining Engineers Society of Kenya (MESK) has sounded the alarm, urging the government to act swiftly in licensing and establishing new mining operations to prevent severe job losses and an anticipated reduction […]
In a move set to revolutionize internet connectivity in Kenya, the Kenya Pipeline Company (KPC) has announced the onboarding of Syokinet Solutions, an internet service provider (ISP), into its Mombasa-Nairobi fiber optic cable network. The strategic partnership is expected to unlock high-speed internet services for both homes and businesses along the crucial Nairobi-Mombasa corridor, enhancing […]
The National Biosafety Authority (NBA) has officially released its updated fee structure for a wide array of services related to the handling and regulation of genetically modified organisms (GMOs) and other biosafety-related matters. The new charges, effective from 1st October 2024, encompass a range of services aimed at ensuring the safe use and management of […]
Title: Kenya to Adopt Zero-Based Budgeting: Treasury CS Reveals Bold New Approach for FY 2025/26 In a significant shift towards optimizing government spending, Treasury Cabinet Secretary (CS) announced that the Kenyan government will fully embrace Zero-Based Budgeting (ZBB) starting with the FY 2025/26 budget. This marks a departure from the traditional incremental budgeting approach and […]
Deputy President Rigathi Gachagua announced a groundbreaking initiative aimed at transforming Kenya’s informal Jua Kali sector by linking certified artisans to formal employment and business financing opportunities both locally and internationally. This strategic framework, bolstered by the Recognition of Prior Learning Policy (RPL) launched in March 2023, seeks to validate the skills of Jua Kali […]
