Trade and Financial Services Round Up

27th January 2023 Trade and Financial Services Round Up

Kenya Banks’ Sh224bn record profits signal bonus, dividends boom Banks’ pre-tax profits for 11 months to November last year hit a record Sh223.7 billion on increased lending, setting the stage for a dividend windfall for owners when full-year results are announced in March. Central Bank

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20th January 2023 Trade and Financial Services Round Up

  Kenya   Users allowed to sue Safaricom over clients’ bank details access  The High Court has allowed millions of Safaricom subscribers to join a class action suit against the telecoms operator over a clause in the SIM card registration rules that allows the firm

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13th January Trade and Financial Services Round Up

Kenya State bursts recurrent budget forecast by Sh81.7bn President William Ruto’s administration projects expenditure for the day-to-day running of the government is Sh81.7 billion more than what the previous regime budgeted, pointing to piling spending pressures, including salaries and wages. The Treasury has forecast recurrent

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9th December 2022 Trade and Financial Services Round Up

Kenya KRA starts crackdown on hidden employee perks The Kenya Revenue Authority (KRA) has started a crackdown on firms under-declaring their payrolls in what will see thousands of employees pay taxes on items like overtime, leave pay and per diems. The taxman is targeting a

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2nd December 2022 Trade and Financial Services Round Up

Kenya Equity’s takeover of Spire the best way out, says CBK Equity Bank’s plan to buy struggling Spire Bank is the best deal available in the market, the Central Bank of Kenya told Parliament yesterday. CBK governor Patrick Njoroge told MPs that the deal is

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25th Trade and Financial Services Round Up

Kenya Court stops law allowing workers to withdraw pension for home purchase A High Court has stopped the implementation of the Retirement Benefits (Mortgage Loans) (Amendment) Regulations, 2020 which allows workers to withdraw part of their pension to buy a home.  Justice Anthony Ndung’u said

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