Author: David Indeje

The Kenya Revenue Authority (KRA) on Tuesday said it is going to appeal High Court conservatory orders to temporarily suspend the implementation of the Minimum Tax pending the hearing and determination of the Petition. The case was filed by the Kitengela Bar Owners Association against the National Assembly, KRA and the Attorney General. A similar suit was filed in March by the Kenya Association of Manufacturers (KAM), Retailers Association of Kenya (RAK) and Kenya Flower Council (KFC) in Nairobi. KRA in a statement seen by Khusoko, sought an early hearing date and the court has agreed to hear and determine…

Coca-Cola Beverages Africa (CCBA) says it plans to list its shares in the Amsterdam and Johannesburg Stock Exchanges through an initial public offering in the next 18 months. In a statement, the beverages company said the listing in line with Coca-Cola Company’s objective of focusing its resources on building consumer-loved brands and innovation. “The IPO will allow CCBA to operate as an independent, Africa-focused, South African-headquartered, managed and domiciled business,” the statement reads. Coca-Cola will use one of the world’s largest independent financial advisory companies, Rothschild & Co., as the adviser for the initial public offer. Bruno Pietracci, Africa &…

Nairobi, Kenya’s capital ranks top in Africa for innovation and ranks among the top 100 globally, according to  Knight Frank’s Africa Horizons Report 2021/22. South Africa’s Cape Town was second, Kampala third with Cairo (Eqypt) and Johannesburg (South Africa) at fourth and fifth place respectively. Dar es Salaam (Tanzania) came in sixth followed by Lagos (Nigeria), Dakar (Senegal), Accra (Ghana) with Addis Ababa (Ethiopia) closing the top ten list. The report which outlines opportunities for investment across the continent, notes that Africa’s investment market is expected to remain resilient despite the pandemic and is well placed for investors to capitalise…

The High Court Monday issued conservatory orders restraining the Kenya Revenue Authority from implementing the minimum tax at a rate of 1 per cent of firms’ turnover. At the beginning of the current fiscal year, the government assented to the Finance Act, 2020 which amended the Income Tax Act by introducing a new Section 12D providing for the introduction of Minimum Tax at the rate of 1% of the gross turnover effective 1 January 2021. However, Justice Geroge Odunga issued the conservatory orders restraining KRA “…from the implementation, further implementation, administration, application and or enforcement of the law…by collection and…

The Nairobi Regional Commissioner  James Kianda says they will review their traffic management within the county as they enhance compliance with Covid-19 measures. Kianda says the idea is to identify bottlenecks, towards optimization of traffic throughput before the 8 pm to 4 am curfew. “Going forward, our traffic management will be reviewed and enhanced to facilitate smooth transition into curfew hours,” he said in a statement issued Sunday. This was in response to the traffic snarl-up along Thika Superhighway as a result of police officers trying to ‘strictly enforce the curfew restrictions. “We are also fully alive to the fact…

World men’s marathon record holder Eliud Kipchoge on Sunday won the Mission Marathon in Enschede, Holland. Kipchoge finished the 42km race run at the Twente Airport in 2:04:29. “The marathon was the real test towards Tokyo and is a good marathon to happen before the Olympics, I am going back to Kenya and see how my training will become,”  Eliud spoke after the marathon. Jonathan Korir clocked 2:06.40 to finish second. Eritrea’s Goitom Kifle finished third 2:08.27. https://twitter.com/NNRunningTeam/status/1383707539578052609?s=20