BUSINESS NEWS
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The Kenya Association of Air Operators (KAAO) has voiced strong opposition to the 2024 Finance Bill, citing its potential to disrupt the nation's air travel sector.
The Bill proposes the implementation of Value-Added Tax (VAT) on various airline operations, encompassing leasing of equipment,…
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The Kenyan shilling has remained resilient against the US dollar in recent days, despite fluctuations in global currency markets and economic trends.
According to the latest report from the Central Bank of Kenya (CBK), the exchange rate stood at Sh131.87 per US dollar on May 30, 2024, marking a…
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Kenya's inflation rate climbed to 5.1% in May 2024, reversing a three-month trend of decline.
This rise signals a potential period of increased strain on household budgets. The primary driver of this inflation surge is the cost of food commodities. Essential food items like spinach, sukuma-wiki,…
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In a bid to address the declining number of contracted tobacco farmers, British American Tobacco (BAT) Kenya has taken the strategic step of increasing its tobacco leaf prices.
This move aims to stem the mass exodus of growers and ensure the sustainability of its supply chain. 2023 presented…
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The recent acquisition of Lipton Teas and Infusions (formerly Ekaterra) estates by Sri Lankan firm Browns Investments Plc has reignited long-standing disputes and unresolved issues with the local community in the South Rift region of Kenya.
This transition of ownership has brought to the forefront…
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The discovery of excessive levels of aflatoxin in a popular brand of maize flour has prompted the Ministry of Health to take immediate action.
The Ministry has cautioned the public against consuming the contaminated flour and directed county health officers to seize all existing stock from the…
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A recent cut in undersea fibre optic cables near Mtunzini, South Africa, has caused internet slowdowns across East Africa.
The Communications Authority of Kenya (CA) has issued a statement acknowledging the disruptions and outlining efforts to mitigate their impact. The affected cables, including…
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The Kenyan government's Finance Bill for 2024 outlines significant alterations to the country's tax structure.
These proposals, if approved by parliament, will establish the tax policy framework for President William Ruto's administration and contribute to funding the 2024/25 fiscal year budget.…
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The Kenyan government's Finance Bill 2024 has sparked debate due to proposed increases in excise duties on various services.
A central concern lies in the potential rise in costs for phone calls, internet data, and money transfers. The National Treasury recommends raising the excise duty on…
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United States Ambassador to Kenya Meg Whitman believes that a revitalized manufacturing sector has the potential to propel Kenya to the position of Africa's economic powerhouse.
Currently, manufacturing contributes only 7.2% to Kenya's GDP, but Ambassador Whitman sees significant room for growth…
