KRA uncovers tax fraud
The Kenya Revenue Authority (KRA) has uncovered a tax fraud scheme in which businesses used fake invoices to claim nearly Sh4 billion in value added tax (VAT) deductions between 2020 and 2025.KRA said 72 companies generated 62,869 electronic invoices…
Decrease in Kenyans income
The number of Kenyans reporting an increase in income fell to 30 percent in the second quarter of 2026 from 42 percent a year earlier, according to a TransUnion survey.The study found that lower salaries, job losses and declining business orders were…
Salary raise
The Salaries and Remuneration Commission (SRC) has raised the monthly honorarium for chairpersons of state corporations by Sh50,000 to Sh130,000, under revised pay terms that also set sitting allowances at Sh30,000 per meeting. The new rates,…
SBM bank reports increase in profit
SBM Bank Kenya’s profit before tax more than doubled to Sh911 million in the nine months to September 2026, up from Sh411 million a year earlier, helped by higher income and lower operating costs relative to revenue growth.The lender’s total income rose…
Co-oporative societies under liquidation
Two co-operative societies, Kenton Kijabe Hill Co-operative Society Limited and Nitunze Sacco Society Limited, have been placed under liquidation, with creditors given 60 days to submit outstanding claims. The Commissioner for Co-operative Development…
Unpaid electricity bills
Kenya Power is facing a growing burden of unpaid electricity bills, with outstanding payments from its postpaid customers rising to Ksh.41.5 billion. Of this amount, nearly Ksh.8 billion is owed by the government, while other businesses and households…
Kenya Economic review
Kenya and the United States have reviewed Kenya’s economic outlook and engagement with the International Monetary Fund (IMF) ahead of consultations expected in Nairobi in December. Treasury Cabinet Secretary John Mbadi held talks with Eric Meyer, the US…
Use of AI in market competition
Kenyan marketers have an opportunity to compete with global brands by using artificial intelligence (AI) to lower innovation costs, improve customer experiences and develop more effective campaignsAsk Technology Ventures Founder and Chief Executive…
Standard Chartered in Nyali
Standard Chartered Bank Kenya has opened a wealth management centre in Nyali, Mombasa, to serve affluent clients seeking investment and financial planning services.The centre will offer advice on investment planning, financing, wealth preservation and…
Debt repayment to consume 80%
Kenya’s debt repayments will consume 79.8% of ordinary government revenue in the financial year ending June 2027, squeezing funds available for public services and development projects.the National Treasury projects debt servicing costs will rise 23% to…