Why I hate The Tax Collector
Capital punishment: The income tax. ~Jeff Hayes I’ll admit it, I hate paying taxes, moreover income tax. The pain of having to helplessly watch the tax collector take a significant part of my hard earned cash drives me crazy, but there’s nothing I can do since it’s my…
Can Consumers Benefit From Banks' Competition?
Competition has been a very effective tool in making life more affordable for consumers in Kenya and other parts of the world. This has been very evident in the telecommunication industry where the nation witnessed a plunge in calling rates as a result of competition. The same has been evident…
Banks Offer Solution To High Interest Rates; Mobility of Collateral
The commercial banks through the Kenya Bankers’ Association have tabled new proposals aimed at convincing legislators to drop their quest to control interest rates. One of the key proposals is to allow banks to transfer existing loans to cheaper rivals- mobility of collateral. This ability to transfer loans means the…
Banks Resist Interest Rate Control.
Commercial banks have remained adamant on the issue of control of interest rates by parliament. Gem MP Jakoyo Midiwo sparked the interest rates debate with his bid to amend the Finance Bill to insert a clause that sets a base for deposit rates and a cap on lending rates. The proposed…
Back When KES 100 Could Buy You A Lot
Do you remember the days when the coins were larger,the days when a 100 shilling note was enough to buy an entire week worth of shopping? A significant amount that was to be handled with caution. An amount that was only in your possession when mother sent you to the…
CBK to Monitor Mobile Money
The Central Bank of Kenya (CBK)will start monitoring mobile money transaction in its quest to fight cyber crime related cases. Although there haven’t been many reported hacking cases in the current money transfer platforms, there is a growing need to secure the platforms due to the growing use…
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New VAT rates increase cost of life
Finance Minister Njeru Githae says he will table the troubled Finance Bill when parliament resumes on 17th of April. Githae said treasury and the parliament had agreed on everything except the additional revenue that the Kenya Revenue Authority (KRA) has collected from January 2012 to date. The…
Minister Calls On Banks To Lower Interest On Loans.
Finance Minister Njeru Githae has urged banks to lower the interest rates on loans to encourage Kenyans to access loans. Speaking at the opening of Ecobank’s Karen branch, Githae said the inflation rate is at 16% now and it would not hurt banks if they charged interest at rates of…
KES 131,665 For Nine Items at Nakumatt
The image below was captured at a Nakumatt till last night. The total payable was KES 131,665 which was paid all in cash. The hapless clerk almost walked off when the pile of notes was handed to him to count. pesatalk.com The receipt had only 9 items purchased so…
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