Category: Business
-
Entrance to Times Tower KRA offices. /BUSINESS DAILY The Tax Appeals Tribunal has delivered a landmark ruling giving the Kenya Revenue Authority (KRA) the green light to classify all bank deposits as taxable income—unless taxpayers can provide clear evidence showing otherwise. The decision came in Tribunal Appeal E1116 of 2024, determined on September 2, where…
-
The Mars family, one of the wealthiest families in the United States, has an estimated combined net worth of $90 billion. Known globally for their ownership of Mars, Incorporated, the family controls the world’s largest confectionery company, which generates billions annually from popular brands like Snickers, Milky Way, M&M’s, Twix, Skittles, and Dolmio pasta sauces.…
-
Airtel Money Kiosk [Photo: TechJaja] Airtel Africa is preparing to list its mobile money arm, Airtel Money, in the first half of 2026, a move that could value the service at over $4 billion. The IPO is part of a broader strategy to cement Airtel Money’s position in Africa’s booming digital payments landscape and to…
-
Labour and Skills Development PS, Mr. Shadrack Mwadime, and KOICA Country Director, Mr. Wankyu Park. The project is scheduled to commence this year and reach completion in 2027. The government has announced plans for a proposed project that will revolutionize skills development in Kenya’s building and construction industry, with an estimated cost of Ksh904 million…
-
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…
-
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…
-
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…
-
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…
-
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…
-
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…