(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
(KAMPALA) – Uganda has appealed to South Sudan to reconsider restrictions affecting Ugandan traders after Juba County authorities called on foreign traders to leave small scale retail businesses to locals. Rebecca Kadaga, Uganda’s Minister of East African Community Affairs, called on South Sudan to respect the common market protocol ofContinue 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
(NAIROBI, KENYA) – New customer sign-ups by satellite internet firm Starlink remain suspended for the third month in eight counties in Kenya due to capacity constraints, even as its enrolled user base climbed to 27,616 by June 2026. A spot check on 7th October revealed the Elon Musk owned satelliteContinue Reading
(NAIROBI, KENYA) – The International Finance Corporation (IFC), the private investment arm of the World Bank, is acquiring a 6.5% stake in Kenyan supermarket chain Quickmart for KES 1.94 billion ($15 million / £11.3 million) through the retailer’s initial public offerin. The investment makes the IFC a cornerstone investor inContinue Reading
(OFUA, UGANDA) – After ten years of exile, survival and longing for home, a South Sudanese refugee leader is making an emotional appeal to the country’s political leaders to put aside their differences and deliver the lasting peace that millions of displaced citizens have been waiting for. For Otiti Joseph,Continue Reading
