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ECONOMY

Kenya is the biggest economy in East Africa and most watched in sub-Saharan Africa, being the regional business hub. BT brings you comprehensive coverage of the various economic sectors.

Kenya Power Shuts Down Token Agents, Unauthorized Paybills

The notice is set to affect several businesses which had emerged as vendors of prepaid electricity tokens. They include digital companies which Kenya Power allowed to sell tokens to consumers via their own platforms and several small businesses which offered the service in highly-populated residential areas.

Blunder or Masterstroke? Sakaja Dumps KRA for ‘Kanjo’ Revenue Collection

KRA took charge of the county's revenue collection soon after the national government through the Nairobi Metropolitan Services (NMS) took over a number of county government functions in 2020.

Expensive HELB Interest, Fines Outlawed – Court Ruling Explained

Justice Mabeya's decision means that Helb will no longer be allowed to charge beneficiaries interest amounts, penalties or fines that exceed the principal amount.

Equity Mints Ksh23.7 Billion Profit in Six Months

The growth was attributed primarily to the significant increase in income. Equity saw its operating income rise 26.4% to hit Ksh65.6 billion for the half-year, up from from Ksh51.9 billion over the same period last year.

MPs’ Plan to Retain CDF Billions Despite Supreme Court Ruling

Members of Parliament (MPs) in Kenya have no plans of letting go of the Constituency Development Fund (CDF) kitty despite the recent Supreme Court ruling that deemed the CDF Act, 2013 unconstitutional.

Loan Apps in Kenya Fight New 20% Tax

The Digital Finance Services Association of Kenya wants the implementation of the Excise Duty Act as amended by the Finance Act 2022 suspended pending determination of the suit.

End of the NMS Era as Sakaja Takes Over City Hall

The four core functions of the county which the NMS took over are health services, transport services, physical planning and development and public works, utilities and ancillary services.

Fuel Prices to Remain Unchanged in August

The prices announced on Saturday, August 14th comes as Kenyans await declaration of a winner of the Presidential election. Verification and tallying is ongoing.

Longhorn Joins Long List of Kenyan Companies Entering DRC

“We are confident that the entry to DRC will give us access to a market of over 20 million learners which will have a significant impact on improving our shareholder returns in the future,’’ stated Longhorn Chief Executive Maxwell Wahome.

The End of CDF: Supreme Court Declares CDF Act Unconstitutional

The apex court ruled that the CDF Act violated the Constitutional principle on division of revenue. It also found that it offends the division of functions between national and county governments.