KRA releases guidelines on withholding tax

The Kenya Revenue Authority has released guidelines for the collection of withholding VAT on payments made to government suppliers, which will be charged at 6% of the cost of supplied goods or services. Withholding VAT was reintroduced in the Finance Act 2014 [...]

Safaricom launches new m-ledger mobile app to enable users track m-pesa transactions

Safaricom has announced the launch of M-Ledger, an Android based application that provides subscribers on the company's network with a simple and easy to use financial journal to track and monitor their M-PESA transactions. [...]

NIC Bank says nine-month pretax profit up 19%

NIC Bank Group said on Wednesday its pretax profit rose 19% to KES 4.74 billion for the first nine months of this year compared with the same period in 2013. This was helped by a KES 0.4 billion growth in net interest income. [...]

Appetite for Uchumi rights issue grows

Trading in Uchumi Supermarkets rights has increased  since Wednesday after recording a slow start at the beginning of the issue last week. Wednesday saw 3.3 million rights of the retailer traded. [...]

State unveils one-stop centre for businesses

Making the announcement, President Uhuru Kenyatta said the centre located at the Kenya Investment Authority (KenInvest) headquarters in Nairobi will host all the Government ministries so as to enable investors' scouting for business opportunities to benefit from information under one roof. [...]

KCB to List Mortgages for Trading At NSE Next Year

Kenya Commercial Bank Group wants to launch a platform that allows investing in a pool of mortgages just like other securities such as mutual funds, stocks and bonds. Chief executive Joshua Oigara said KCB Capital, its investment banking subsidiary will start trading early 2015 targeting big-ticket transactions including mortgages. [...]