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Newsroom

‘Mulot team’ SIM swap suspect arrested in Thika

Emmanuel Kirpono, a man suspected to be engaging in sim swap fraud has been apprehended by investigators based in Thika. The arrest occurred when the suspect presented himself at a Safaricom shop seeking SIM card replacement services while in possession of counterfeit identification documents, specifically, a falsified ID waiting card and a purportedly issued police abstract form from Central Police Station, Nairobi. Following an interrogation, Kiprono led the detectives to a house in Zimmerman. During a subsequent search of the house, law enforcement officers discovered an array of incriminating evidence. This included a mobile device evidently employed for sim card registration, an assortment of sim…

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MarketsNews
Newsroom

Inside KRA’s tax penalties and interest amnesty program

Taxpayers in Kenya can avail themselves of a tax amnesty for outstanding tax penalties and interest that have accumulated until December 31, 2022. Professional services firm PwC offers guidance on how taxpayers, who have either settled their principal tax obligations or intend to do so by June 30, 2024, can take advantage of the tax penalties amnesty provided by the Kenya Revenue Authority (KRA). The provision for this amnesty stems from the government’s objective to boost tax compliance and generate tax revenues to meet the FY2023/24 budget. The plan was formally introduced through the Finance Act of 2023 and became effective on September 1, 2023….

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EAC & The HornTechnology
Newsroom

Addressing tech-driven injustices in Africa

The Mozilla Festival House in Kenya has become a vital platform for diverse communities to come together and engage in discussions, debates, and connections surrounding some of the most critical issues impacting the region. A central focus of these dialogues has been the role of technology in perpetuating social injustices across Africa. At the inaugural Mozilla Festival House in Kenya, the event saw participants share ideas on practical solutions to pressing concerns, notably the concept of digital extractivism. Global content moderation unions Attendees explored ideas such as the establishment of global content moderation unions. They also advocated for fair and equitable wages in the tech

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News
Newsroom

What KRA’s new revenue agents will do once in your shop

The taxman has deployed Revenue Service Assistants (RSA) in a move that the Kenya Revenue Authority (KRA) says will “support taxpayers with their compliance needs.” A key role of the RSAs is to streamline and simplify the online registration process for trading businesses. They are tasked with registering businesses in the formal tax system, thereby widening the tax bracket as the taxman moves to collect Kes2.7 trillion in revenue for the FY2023/24 Further, RSAs are entrusted with the task of verifying taxpayer information to ensure the accuracy of data and adherence to the Electronic Tax Invoice Management System (eTIMS) regulations, which are essential for maintaining…

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Queen Banking
CorporateWomen in Business
Newsroom

Family bank courts women with Sh50 billion credit line

Family Bank has unveiled ‘Queen Banking’, a Kes50 billion credit line exclusively targeting women to cater to their diverse individual and business needs. The financing scheme, which is set to run for two years, is part of the lenders strategies in deepening financial inclusion in Kenya especially among women in Kenya. According to the lender, Queen Banking will cater to the needs of women in business, the career women as well as those involved in Chamas. Family Bank says the lending targets businesses with at least 51 per cent of the shares controlled by women or 100 per cent owned by women. Also benefitting are businesses where women constitute more than 30 per cent of the board

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Kenya Haiti
In Brief
Newsroom

Kenya establishes diplomatic ties with Haiti ahead of police deployment

Kenya has formally established diplomatic relations with Haiti, a country whose gang violence has escalated since the killing of President Jovenel Mossé in 2021, which remains unsolved. Currently, criminals control large areas of the capital and are spreading into the countryside. Kenya has committed to deploy 1,000 police officers to train and assist the Haitian police to restore normalcy in the country. In August, UN Secretary-General António Guterres told the Security Council that the conditions were unsuitable for a UN peacekeeping deployment. To destroy gangs and restore order, Guterres added, “police special forces and military support units” are needed. President Biden commended Ruto for joining

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In Brief
Newsroom

Equity, Mastercard partner to enhance payments

Equity Bank has signed a Customer Business Agreement with Mastercard, aimed at giving customers a broad range of benefits from a wide selection of Mastercard payment solutions ranging from World and World Elite cards, corporate cards and virtual cards. In addition, customers will perform a range of payments including cross-border remittance, e-commerce payments, QR and Tap on phone solutions. Additionally, Equity and Mastercard will co-create payment solutions in tandem with changing customer needs especially in e-commerce, cross-border payments, and segment-based value propositions. Other innovations will include community pass solutions that will enable farmers and traders to access services via different identification methods such as QR,

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Corporate
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Safaricom and Britam unveil Sh25 daily plan for Bodabodas

For Kes25 per day, Boda Boda operators and other low-income earners in Kenya can cover medical bills arising out of personal accidents. The move follows a deal between Safaricom and Britam to introduce Kes25 per day data plan dubbed Data Plus, which offers a daily personal accident cover. The product has a graduated plan capped at Kes150 per day. Data Plus will see Safaricom customers secure personal accident covers for medical expenses, permanent disability, and funeral expenses arising from an accident. For Kes25 daily, a customer will get 100MB bundle with a daily insurance benefit of Kes15,000 for medical expenses. The deal also offers Kes50,000

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Corporate
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EA Cables secures Sh232 million Kenya Power order

East African Cables, a local electrical cables and conductor manufacturer, has lauded the growing support it is receiving from Kenya Power. This support comes as part of Kenya Power’s strategy to promote local manufacturers, aligning with the government’s ambitious Bottom-Up Economic Transformation Agenda (BeTA). East African Cables’ Chief Executive Officer, Mr. Paul Muigai, lauded the efforts of Kenya Power, highlighting the positive impact on the local economy. Under the BeTA initiative, Kenya Power has been increasing its procurement opportunities for local manufacturers. This strategic shift signifies a broader commitment to driving economic growth and industrialization within the country. Mr Muigai commended Kenya Power’s proactive approach,

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In Brief
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Co-op feted for listening to small businesses

Co-operative Bank Group has emerged top among African peers in serving small business and has been awarded by the SME Finance Forum the SME Financier Of The Year In Africa – Gold Award at the Global SME Finance Awards 2023. Co-op Managing Director Dr Gideon Muriuki has said they won the award at the Global SME Finance Forum currently underway at the Grand Hyatt Hotel in Mumbai, India, on their responsive service to small businesses. “In collaboration with IFC and other partners, we have taken time to listen, study and build a most competitive value proposition for SMEs intended to support them realise the goals

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