KRA to miss capital gains tax target by Sh6.8 billion The government is set to miss nearly all of the Sh7 billion it expected from charging capital gains tax (CGT) on stocks and property this financial year, official statistics show. The taxman is expected to collect a paltry Sh200 million…

Bond failure and project delays hit Home Afrika’s profit Property developer Home Afrika has announced a 90 per cent drop in profit last year, attributing it to project delays after the firm’s Sh900 million bond issue failed. The bond flop saw the company turn to bankers taking a loan of…

CBK steps in to halt shilling slump The Central Bank of Kenya on Tuesday moved to calm the market as the shilling continued its slide to a new three- year low of 93.40 units to the US dollar. The shilling is being weakened by a combination of a stronger dollar…

Mumias Sugar Company lays off 100 staff at closed water bottling plant Sugar miller Mumias was on Monday preparing to lay off 100 employees of its water bottling plant, which is being wound up as part of the grand plan to rescue the company from collapse. Mumias Sugar Company on Monday…

KQ stock dips 30 per cent as airline flies into turbulent times Kenya Airways has shed 30 per cent over the past two months reverting to a Sh7.75 low on a series of negative corporate reports, erasing price gains made between November last year and February 2015 […] Wrigley ups…

Rea Vipingo plans diversification into power generation Agricultural firm Rea Vipingo will invest Sh1.3 billion in power generation and expansion of vegetables production after delisting from the Nairobi Securities Exchange. Rea Vipingo is expected to use the electricity generated to power its factory, potentially reducing its operating expenses. The surplus…

Kenya Airways targets increasing its fleet to 119 by 2021; while growing the number of destinations to over 115 from the over 50 that it currently flies to.

Services paralyzed as workers’ protest spread The protest by City Council of Nairobi workers over delays in effecting a salary increment negotiated two years ago spread to other local authorities Monday, paralysing services. City Hall workers downed their tools last Thursday, abandoning vital services like…

Poor families conned of KES 7 billion in dubious scheme Police are investigating a dubious investment scheme through which poor families may have lost more than KES 7 billion on expectations that their children would be educated for a token. The Criminal Investigation…

Kenya Airways (KQ) has reduced its carrying capacity for flights to India.