From KUSSCO to KEFESCO
The Government plans to rename the Kenya Union of Savings and Credit Cooperatives (KUSCCO) to the Kenya Federation of Savings and Credit Cooperatives (KEFESCO) following a financial crisis that left Saccos with billions of shillings in losses.…
Maize seed and fertiliser subsidy
Agriculture Cabinet Secretary Mutahi Kagwe has announced a 50% price reduction of maize seed and fertilizer to cushion farmers from drought-related losses and sustain production. In a statement on Monday, CS Kagwe said that the Government will meet 50…
KRA Vs Chiarmania ltd
KRA cannot disallow a taxpayer’s input VAT claim solely because a supplier has been classified as a missing trader, the Tax Appeals Tribunal has ruled while cancelling a Ksh15.76 million tax assessment against an events company. The Tribunal set aside…
Ksh.3.5M fine on crown paints
The High Court has upheld a Ksh3.5 million damages award against Crown Paints Kenya for painting its brand on a commercial building in Thika without the owner’s consent. Punjab Engineering Works Ltd, the property’s owner, sued the paint…
We can’t sell our shares
More than 64,000 minority shareholders of Absa Kenya declined an offer by South Africa’s Absa Group to buy part of their shares, limiting the lender’s plan to increase its stake in the bank. Absa Group purchased 189.38 million shares, equivalent to a…
62% profit from family Bank
Family Bank Group has posted a 62% jump in Profit After Tax to Ksh.3.7 billion for the six months ended June 30, 2026, up from Ksh.2.2 billion recorded in the first half of 2025. The strong performance was underpinned by robust balance sheet expansion…
Guardian Angel Harvests Huge Onions
Gospel musician Guardian Angel has turned heads after showing off a massive onion harvest from his Waingo Farm in Machakos County. The 20-acre farm sits in a semi-arid area many thought would not produce much. Further more the singer invested in a…
Absa interim rises
Absa Bank Kenya has raised its interim dividend by 150% to a record Ksh0.50 per share despite a 9.8% decline in first-half profit to Ksh10.53 billion. The firms join Hurupay, which stopped processing cross-border transfers and cryptocurrency transactions…
Sendwave and wise restricts their sercives in Kenya
Sendwave and Wise have restricted services for Kenyan users amid increased scrutiny of money laundering and terrorism financing risks. Sendwave said it had suspended wallet services in Kenya due to “technical difficulties”, while some Wise users have…
Electric bills to rise
Kenyans will pay more for electricity in August after the Energy and Petroleum Regulatory Authority (EPRA) made three tariff adjustments, adding a combined Ksh4.7027 per kilowatt-hour (kWh The charges, published in the Kenya Gazette on August 14,…