Airtel, KRA partnership enables subscribers to pay taxes via mobiles

The partnership also allows Airtel subscribers to inquire for KRA services, generate a KRA payment reference number (PRN or an e-slip/invoice number) and make quick simple payments through Airtel Money by simply dialling the short code *572#. Airtel is charging its subscribers between KES 10 to KES 270 depending on the amounts being paid through the platform. [...]

Buyers to pay more for goods under proposed duty on paper

Consumers could soon be forced to pay more for products if the government implements a proposed increment of duty on packaging materials imported from outside East Africa. The move, mooted by the ministries of National Treasury and Industrialisation, is intended to support revival of the defunct Pan African Paper Mills which was the region’s biggest supplier of the products before it went under several years ago.[...]

CMC gives up bid to recover billions in Jersey slush fund

Mr Mark Kass, the new chief executive of CMC, said the company is not interested in pursuing the offshore accounts that were allegedly setup by former directors and shareholders. “We want to leave that legacy behind and progress with our vision for the company. These things happened a long time ago and we frankly don’t know what exactly happened,” he said. [...]

more on CMC:

CMC new owners end contracts of three sales agents

Al-Futtaim Group the new owners of motor dealer CMC Holdings have terminated the contracts of three sales agents who were allegedly hired by the company’s former managers on controversial terms. Mark Kass, the new chief executive terminated the services of Pewin Motors, Peak Showcase and Superstrike Equipment Services on July 1. The agents, who were hired from 2011, were charging a commission of up to 6% of gross sales. [...]

Central Bank of Kenya profit climbs to KES 14 billion

The Central Bank of Kenya ( CBK ) posted a net surplus of KES 13.5 billion from KES 3.6 billion the previous financial year. However, the bank of last resort’s operating expenses are expected to increase significantly in the 2014/15 financial year. This is according to a report by the Auditor General on CBK for the financial year ending June 30, 2014. [...]

Acorn and Crown Paints break ground for KES 1.2bn office block

The two firms through a joint venture, Tiara Properties, have begun developing Tiara Office Park, an upmarket six-story office block with 88,000 square feet space set for completion in January 2016. Acorn Group chief executive Edward Kirathe said the block will target multinational corporations and local companies seeking high quality office space in Lavington, Nairobi. Acorn is25% owned by Britam. [...]