Listed companies whose internal rules do not provide for virtual Annual General Meetings (AGMs) have been allowed to hold online shareholder meetings, unlocking frozen company deals.
This follows court approval of a deal between Nairobi bourse-listed ScanGroup and Capital Markets Authority (CMA) allowing for online voting on decisions that require shareholder approval.
The Kenya Revenue Authority (KRA) has regained powers to seek workers’ and businesses’ financial transactions from third parties like banks, mobile telephone firms and schools in an effort to crack down on tax cheats.
The Central Bank of Kenya’s top think tank, the Monetary Policy Committee has lowered the policy rate once again to 7 per cent, in a space of a month, the lowest level in 9 years. This is as the CBK eases monetary controls to boost credit levels in an already slowing economy. READ MORE..
Growth of Kenya’s economy in 2020, like most economies all over the world, will largely be depend on how it manages to cushion life and economic activities from disruptions posed by the COVID-19 pandemic. READ MORE..
Kenya’s economic growth rate is expected to drop further to 2.5% from an earlier projection of 3.0%. This is if extreme shocks associated with COVID-19 pandemic persist and global demand remains weak. READ MORE..
The World Bank has revised Kenya’s 2020 economic growth forecast to 1.5 percent this year but warned of possible contraction in case of prolonged Covid-19 outbreak.
Tourism, agricultural exports are some of the sectors hardest hit by the outbreak-induced economic slowdown, the bank says in its latest economic update. READ MORE...
Equity Group Foundation (EGF), with support from the Mastercard Foundation, today announced a commitment of Ksh 1.1 billion to provide Personal Protective Equipment (PPE) to frontline medical staff dealing with COVID-19 patients in public hospitals in Kenya. READ MORE..
Kenya's economy grew by 5.4 per cent in 2019 compared to 6.3 per cent in 2018, an economic survey indicates.
Bad weather in the first half hit the economy for the period, specifically on agriculture
Tea, Sugar and Maize production fell by 5 per cent, 12.5 per cent and 10.3 per cent respectively. Milk production however soared.
Kenya Revenue Authority has released the new monthly and annual tax rates in deducting and remitting Pay As You Earn(PAYE) taxes on salaries and pensions of employees in Kenya.
This comes after Parliament finally enacted into law the reduced rates of tax last Wednesday as proposed by President Uhuru Kenyatta on March 25.All employers who are yet to pay their employees for the month of April 2020 should therefore effect the enacted changes, according to the directive by KRA.
Safaricom net profit for the full year ended March this year jumped 19.54 percent to Sh74.7 billion on strong M-Pesa and mobile data revenue growth that offset a decline in voice and messaging (SMS) revenues.
During period, Safaricom's M-Pesa revenue grew by 12.6 percent to Sh84.44 billion as mobile data revenue increased by 12.1 percent to Sh40.67 billion.
