Telkom targets Sh1bn from assets sale across country
Telkom Kenya has stepped up the sale of its assets with a listing of 17 properties across the country that are estimated to be valued at Sh1 billion. The fire sale comes at a time when Telkom Kenya’s majority owner, France Telecom, is shopping for a potential buyer of the 70 per cent stake it owns in the company…[…]
KRA seeks agents to collect data on rental income tax
The Kenya Revenue Authority (KRA) will in the next few weeks appoint agents—including independent ones—to collect data relating to buildings and their owners to establish their rental income tax status. KRA expects to rope in around 20,000 building owners and collect no less than Sh3 billion by the end of this fiscal year…[…]
Cost of insurance to rise after brokers lose KRA tax case
The cost of insurance is set to shoot upwards following the dismissal of a case in which brokers had challenged introduction of a new 10 per cent levy on their earnings. Justice Mumbi Ngugi has ruled that the suit was similar to another one challenging introduction of the tax, which was dismissed by another judge —Isaac Lenaola. She held that giving the brokers an audience in the present petition would be tantamount to hearing the same suit twice…[…]
Kenya reinstates tourism advert deal with CNN
The government has reinstated a multi-million dollar advertising deal with broadcaster CNN that was suspended in August in protest over a terrorism remark made by the global news station. CNN raised a storm after it aired a documentary just days to President Barack Obama’s July visit, describing Kenya as a “hotbed of terror”…[…]
Developer to build Sh200m luxury lodges at Elementaita
Superior Homes Kenya, the developer of Greenpark estate in Athi River, is constructing 50 lodges at Lake Elementaita, Rift Valley at a cost of up to Sh200 million. The company’s managing director, Ian Henderson, on Tuesday said the leisure lodges, to be called Lake Elementaita Mountain Lodge, will sit on a 12-acre parcel of land and will be completed in October next year…[…]
Dairy industry wants State to reintroduce school milk
The dairy industry wants the government to reintroduce the State-funded school milk programme as a way of increasing consumption of the commodity. The Eastern and Southern Dairy Association says Kenya and other African countries should provide budget allocations for such interventions to enhance production, processing and consumption of dairy products in the continent…[…]
CFC stanbic bank partners with seedstars world to find the best startup in kenya
CfC Stanbic Bank has partnered with Seedstars World, the global seed-stage startup competition for emerging markets, to identify the best startup in Kenya on October 2. Up to 12 of the best startups in Kenya will compete to represent the country at the Seedstars World competition at the final event in Geneva and win up to Sh5 million in equity investment…[…]
Construction work of Sh12b cement plant to kick off next year in West Pokot
Construction work for the long awaited multi-billion cement processing factory project at Sebit in West Pokot County will kick off early next year, company officials have confirmed. Cemtech limited, a subsidiary of India’s Sanghi Group of companies will begin construction work for the Sh 12 billion factory after approval by engineers who had earlier raised queries over its site among other issues…[…]