EABL pledges Kes190M to revitalize Kenya’s water towers
The East African Breweries PLC (EABL) has committed Kes190 million towards the restoration and preservation of Kenya’s vital water towers.
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EABL
Diageo’s East Africa sales surge 9% on Senator uptake
Alcohol giant Diageo’s East Africa sales experienced a 9 percent growth in the six months ending December 31, propelled by
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Consumers dodge high taxes, shift to illicit alcohol
Kenya Breweries Limited (KBL) is urging the government to reconsider its tax policy on spirits to tackle the dual challenge of declining revenue collections and the growing threat of illicit alcohol trade. In Kenya, spirits have faced annual double-digit excise tax increases since 2015. This has exacerbated the affordability issue, compounded by soaring input costs like ethanol, which has surged by 61 percent, according to Mark Ocitti, Managing Director of KBL. For the quarter ending in September, the Kenya Revenue Authority (KRA) recorded a 20.7 percent decline in spirits revenue performance for the first time in years. This shift in consumer spending patterns suggests a…
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Govt, Counties brew illicit rules to block bar licenses
I once read somewhere, you can tell a society’s values by what they chose to dedicate their tallest and grandest buildings to, and in Kiambu town, they mean business in every sense of the word. Kiambu town is squashed together over a little dirt in the middle of a sea of tea and coffee. It’s inhabitants huddled so close together that the town has learned the value of every inch of space. We got lost in the directions that sent us to a petrol station, the only one I have ever seen that uses the same entry point as an exit. We found ourselves on…
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Private sector slump on feedback loop of high costs
Deterioration of the Kenyan currency, high energy prices and a higher taxes pushed cost of living out of the reach of many Kenyan leading to decline in consumption and political unrests.Dampened demand and political unrests are now causing second hand impact on companies as sales remain low and costs elevate, that saw the Stanbic PMI index dip to 45.5 in July from 47.8 in June.With higher inflation, Central Bank of Kenya is also jerking up rates cutting the lifeline of financial flows to private sector that will make things tougher.This shows that only strong resilient business will survive through the current multiple crisis by cutting
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