The 2020/2021 budget barely differs with its predecessor as the total spend rounds off to Ksh, 2.73 trillion from Ksh.2.78 trillion last year.

The budget, otherwise summarized as total expenditure and net lending includes Ksh.Ksh.1.8 trillion as ministerial expenditures while Ksh.549.7 billion account for development expenditures to the respective ministries and state departments (MDAs).

The University of Nairobi has made the following appointments:

The first major economic impact due to COVID-19 was the volatility on the country’s stock market. Trading was halted at the Nairobi Securities Exchange (NSE) after the NSE 20 index dropped more than 5%, the first day a COVID-19 case was reported in the country. READ MORE

Kenya risks a trade war with the USA over its plans to tax firms in the digital marketplace.

This is if the draft Value Added Tax(VAT) law on digital firms is adopted. The US Department of Trade has already opened probes of several countries planning or already taxing its tech firms. READ MORE..

The Parliament’s Budget and Appropriations Committee (BAC) in their submission on the estimates of the Budget2020/21 says that the growth estimates are overambitious. Kenya’s Ministry of Treasury had presented the Budget estimates to the National Assembly in late April with the BAC seeking views of the public in 12 counties. READ MORE..

The Treasury is seeking to delete a paragraph exempting from taxation income from employment paid in the form of bonuses, overtime and retirement benefits to employees whose taxable employment income does not exceed the lowest tax band in the Finance Act, 2016. READ MORE

Safaricom’s #ticker:SCOM Chief Financial Officer (CFO) and Board Executive Director Sateesh Kamath has been appointed as the new Vodafone Business CFO effective July 1.

Before joining the telecom in 2016, Mr Kamath worked at Vodacom Tanzania under similar capacity.

Reference:https://www.google.com/amp/s/www.businessdailyafrica.com/corporate/companies/Safaricom-finance-boss-Sateesh-Kamath-exits-joins-Vodafone/4003102-5574084-view-asAMP-bghyegz/index.html

UoN ranked in the top 6.8% globally Tuesday, June 9, 2020 UoN has been ranked in the top 6.8% out of twenty thousand universities worldwide according to the Center for World University Rankings’ new list for 2020-21. The Center for World University Rankings (CWUR) publishes the largest academic rankings of global universities.

Central Bank of Kenya weekly bulletin for the week ended June 5 shows that the Kenyan shilling made marginal gains against international currencies. The shilling exchanged at Ksh106.12 per US dollar on June 4 compared to Ksh 107.03 per US dollar on May 28. READ MORE..

This little box dictates your legal relationship with the social media provider and also sets out your rights ( or lack of as the case may be). The first thing to note is that the jurisdiction that governs the contractual relationship each user has with the provider. In the case of Zoom, the little box designates Carlifonia, United States Of America ( USA) as the jurisdiction. This means if you ever had a legal issue with your service provider Zoom,then you can only have the dispute heard in Carlifonia, USA.