Ministry proposes VAT waiver to spur tea earnings The Ministry of Agriculture has proposed to waive value added tax (VAT) and reduce ad valorem levy charged on Kenyan tea in order to make the beverage competitive in the wake of a slump in world prices. Agriculture PS Sicily Kariuki indicated…

Bad debts to hurt lenders’ profits on tight CBK scrutiny A new report by Citigroup’s investment banking arm has indicated that the profitability of Kenyan banks will take a hit from increased provisioning for bad loans as Central Bank of Kenya (CBK) heightens its scrutiny on their books. The international…