Kenya is poised to receive a significant financial injection with a $1 billion disbursement expected from the International Monetary Fund (IMF) next month. This news comes as a welcome development for the nation’s economy, which has weathered a debt crisis earlier this year and is now showing signs of improvement. President William Ruto expressed confidence…
Kenyans looking to trim their cooking gas expenses can finally exhale a sigh of relief after the government exempted cooking gas meters suppliers from paying the 16 percent Value Added Tax. This welcome change comes after the signing into law of the Statute Law (Miscellaneous Amendments) Bill, 2024. Previously, gas meters that measure how much…
Bamburi Cement declared a significant dividend of KES 5.50 per share for FY2023, a remarkable increase of 687.5% compared to the previous year’s proposed dividend of KES 0.75 per share. This translated to a significant jump in the dividend growth rate, reaching 11.7% in FY2023 compared to just 2.7% in FY2022. The sharp increase in…
Britam Holdings Plc recorded an remarkable 97.4% increase in revenue, to Sh3.2 billion compared to Sh1.6 billion a year ago. The milestone was announced in the company’s financial results for the year ended December 31, 2023. The increase in revenue was driven by higher underwriting and lower costs, most notably by lower finance costs from…
Kenya’s Tax Amnesty Program, launched in 2023, has demonstrably achieved significant engagement, attracting over 227,000 taxpayers who took advantage of the opportunity to regularize their tax affairs. This high number of participants signifies the program’s reach and its potential to improve tax compliance in the long run. One of the program’s most impactful aspects was…
Kenya Power emerged from a period of financial difficulty in 2021, posting a half-year pre-tax profit of Ksh 319 million marking a significant improvement compared to the previous year’s loss, indicating a potential turning point for the company. This positive development raises questions about the potential impact on Kenyan consumers. It is crucial to explore…
