Business & Economy
Featured News Stories
KRA Forgoes Sh9.1bn in Taxes to Cushion Consumers from Fuel Price Surge
The Kenya Revenue Authority (KRA) has waived Sh9.1 billion in taxes over two months to shield consumers from escalating fuel prices, following the government's decision to slash Value Added Tax (VAT) on petroleum products. Additionally, the Kenyan government plans to use the Affordable Housing Levy collections as collateral for a Sh100 billion loan, potentially making the deduction a long-term feature on workers' payslips post-Ruto administration. Further, Kenya's Ministry of Health is proposing new rules to completely ban shisha smoking and all waterpipe tobacco products, including herbal and flavored variants, citing evolving public health risks.
Danish Chamber Taps KEPSA Network to Expand Business Footprint in East Africa
The Danish Chamber of Commerce (DCC) and the Kenya Private Sector Alliance (KEPSA) have signed a strategic cooperation agreement to boost trade and investment between Denmark and East Africa, positioning Kenya as a key business hub. Kibo Africa, an electric mobility company, plans to deploy 10,000 electric motorcycles in Kenya within the next 12 months, aiming to expand the company's presence in the nation's burgeoning boda boda sector. Separately, a Kenyan court has dismissed an application by Bia Tosha Distributors Limited to block the sale of Diageo's 65 per cent stake in East African Breweries Limited (EABL) to Japan's Asahi Group Holdings for Sh305 billion.
NSSF Defends Pension System After Court Refuses Stay Bid
The National Social Security Fund (NSSF) is reaffirming that current pension contribution rates remain in effect, despite ongoing court challenges to the NSSF Act, 2013. Kenya's Competition Authority (CAK) and the Public Procurement Regulatory Authority (PPRA) are intensifying efforts to combat tender cartels that inflate government project costs. At the same time, new regulations have significantly increased the minimum wage for domestic workers in Kenya, raising monthly pay to Sh18,047 and introducing penalties for non-compliance.
