Category: Economy&Finance
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In the evolving landscape of African digital economies, Rwanda is making a notable move. Starting in 2026, the country will implement a 1.5% Digital Services Tax (DST) on revenues generated by foreign digital platforms offering advertising, search, and subscription services within its borders. This decision aligns Rwanda with a growing number of nations aiming to…
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Kenya’s recent tax debates have been full of half-truths and alarmist headlines. One claim circulating widely is that the Kenya Revenue Authority (KRA) can simply tax any money in your bank account. While that’s an exaggeration, a closer look at the Kirin Pipes Ltd. case reveals a more nuanced—and sobering—truth for every taxpayer. Here’s the…
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Flowcart (formerly Sukhiba) Accion Ventures, the U.S.-based venture capital arm of the global nonprofit Accion, has closed its second fund at $61.6 million, nearly doubling the size of its inaugural $33 million fund launched in 2019. The move comes as early-stage fintech startups in Africa continue to attract attention from global investors, despite a cooling…
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South African President Cyril Ramaphosa who declared at a virtual BRICS summit that the global economy is shifting from unipolar dominance toward contested multipolarity. (Photo: Courtesy) Ramaphosa stressed that this change is no longer theoretical but a lived reality, citing intensifying geopolitical rivalries, protectionist tariffs, and the weakening of the rules-based trading system. At an…
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National Treasury Cabinet Secretary John Mbadi. The High Court in Nairobi has temporarily suspended his directive on mandatory e-procurement. (Photo: File/National Treasury) The High Court in Nairobi has temporarily suspended a decision by National Treasury Cabinet Secretary John Mbadi over the handling of public procurement processes. In a ruling delivered on September 8, 2025, Justice…
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Roads and Transport Cabinet Secretary Davis Chirchir. (Photo: Davis Chirchir/X) Transport and Infrastructure Cabinet Secretary Davis Chirchir has defended the KSh175 billion infrastructure bond facility, assuring Parliament that it does not increase Kenya’s public debt. Appearing before the National Assembly’s Budget and Appropriations Committee on Friday, Chirchir explained that the State Department for Roads allocated…
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The Salaries and Remuneration Commission (SRC) projects a sharp fall in counties’ wage-bill-to-revenue ratio to 35.38 per cent in the third quarter of the 2024/2025 financial year, down from 43.34 per cent in the previous quarter. The national government’s ratio is also expected to drop to 26.46 per cent from 28.02 per cent over the…
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Ethiopia has inaugurated its colossal Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile, a milestone that has drawn concern from Egypt and Sudan. Stay ahead of the news! Click ‘Yes, Thanks’ to receive breaking stories and exclusive updates directly to your device. Be the first to know what’s happening.
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Remittances from Australia to Kenya Up by 48% to sh14.58 Billion Remittances from Kenyans living in Australia surged by an impressive 48 percent in the first half of 2025, reaching Sh14.58 billion, according to new data from the Central Bank of Kenya (CBK). This sharp rise has seen Australia leapfrog Saudi Arabia and Germany to…
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The Homes Expo 2025 over the weekend brought together leaders, innovators, and stakeholders to shape the future of housing and real estate in Uganda. The event, themed “Access to Quality Living and a Pathway to a Green Future”, highlighted new trends, technologies, and opportunities driving the property sector. Dr. Edwin Musiime, Chairman of the Homes…