(KILIFI, KENYA) – Four salt producers have won a court case against a KES 200 ($1.50 / £1.20) per tonne levy imposed by the Kilifi County government. The High Court declared the charge unconstitutional and ordered a stop to collections. The judge ruled that the charge under the Kilifi CountyContinue Reading
(NAIROBI, KENYA) – Kenya will spend nearly four out of every five shillings of ordinary revenue on debt repayments in the financial year ending June 2027, according to the National Treasury. Total debt service is projected at KES 2.30 trillion ($17.8 billion / £13.6 billion), equal to 79.8% of ordinaryContinue Reading
(NAIROBI, KENYA) – I&M Bank has won a KES 713 million ($5.5 million / £4.2 million) tax dispute after the Tax Appeals Tribunal ruled that the Kenya Revenue Authority wrongly taxed a reversal of loan-loss provisions as bad debts written off in 2019. The tribunal found that KRA misclassified aContinue Reading
(BANGKOK) – A South Sudan delegation has met with the International Monetary Fund to discuss the country’s economic reforms and political preparations ahead of December elections. The delegation, led by Caretaker Minister of Finance and Planning Athian Diing Athian and Bank of South Sudan Governor Dr Addis Ababa Othow, heldContinue Reading
(MAI MAHIU, NAKURU COUNTY） – South Sudan has broken ground on its logistics hub at the Mai Mahiu Special Economic Zone in Naivasha, Nakuru County, marking the first such facility by any of the five regional countries allocated land by Kenya. The hub will serve as an alternative cargo clearanceContinue Reading
(NAIROBI, KENYA) – UK hotel group InterContinental Hotels Group (IHG) has entered the East African market with the opening of a 112-suite Voco property in Nairobi, as Kenya’s tourism and hospitality sector records renewed growth and attracts fresh private investment. The Voco by IHG Nairobi Airport Suites is located aboutContinue Reading
(NAIROBI, KENYA) – Kenyan stockbrokers have lowered the minimum investment for retail investors seeking shares in the Dangote Petroleum Refinery and Petrochemicals initial public offering (IPO), cutting the entry bar from KES 107,000 ($825 / GBP 651) to as low as KES 5,400 ($42 / GBP 33) in a bidContinue Reading
(NAIROBI, KENYA) – Kenya Pipeline Company (KPC) must reinstate a sacked general manager after the Employment and Labour Relations Court ruled his dismissal over alleged poor performance was unlawful, handing a significant victory to a senior executive dismissed despite positive appraisals. The court found KPC failed to demonstrate a validContinue Reading
(NAIROBI, KENYA) – Kenyan investors will need at least KES 107,000 ($828 / GBP 624) to buy shares in Nigeria’s Dangote Petroleum Refinery initial public offering through a financial instrument listed on the Nairobi Securities Exchange. The higher minimum is set to lock out a significant share of retail investorsContinue Reading
(NAIROBI, KENYA) – Kenya’s Supreme Court has cleared the way for an appeal that will examine the powers of lenders when a borrower dies before a mortgaged property is sold. The court dismissed a bid by Housing Finance Company (K) Limited to stop Faith Wanjiru, the administrator of the estateContinue Reading
