The Supreme Court of Kenya overturned the Court of Appeal’s ruling that declared the Finance Act 2023 unconstitutional. The apex court on Tuesday ruled that the Finance Act 2023 is constitutional, upholding the government’s position on the matter. “The preliminary objection on this Court’s jurisdiction is overruled. We hereby set aside the Court of Appeal’s finding declaring the entire Finance Act, 2023, unconstitutional,” said the Supreme Court. The decision confirms the legality of the Finance Act 2023 and allows the government to continue revenue collection and fiscal operations under its legislative framework. “The Consideration of the Finance Bill (National Assembly…
Author: David Indeje
David Indeje
David Indeje serves as the community engagement editor at Khusoko, a digital platform covering East African business news. He manages editorial content, engages audiences, and amplifies diverse voices while consulting on digital strategy for brands in agriculture, governance, technology, and health. Indeje explores AI’s impact on journalism and works as a communications officer at KICTANet.
The Communications Authority of Kenya (CA) will implement new regulations to boost tax revenue from mobile devices. These measures, effective January 1, 2025, will impact various stakeholders in the mobile device ecosystem, including importers, assemblers, retailers, and mobile network operators. Key Regulations IMEI Registration: Local device assemblers must upload IMEI numbers of assembled devices to a Kenya Revenue Authority (KRA) portal. Importers must disclose IMEI numbers in their import documents submitted to the KRA. These measures will ensure the registration of devices in the National Master Database of Tax-Compliant Devices. Retailer and Wholesaler Responsibility: Retailers and wholesalers must verify the…
Afreximbank, a Pan-African trade finance institution, doubled its support for Africa’s burgeoning creative industries. The bank will allocate $2 billion over the next three years to the Creative Africa Nexus (CANEX) program, doubling its previous commitment. Since 2022, Afreximbank has seen a significant increase in opportunities within industries, from film production and music to fashion manufacturing and sports. The announcement was made during the CANEX WKND 2024 event in Algiers, Algeria, and underscores Afreximbank’s dedication to empowering Africa’s creative economy. “This will enable us to support significant infrastructure investments for film production, stadia, arenas, manufacturing facilities for fashion, and training…
Kenya Wine Agencies Limited (KWAL) launched Kibao Gin, a premium gin targeting young Kenyan adults seeking unique, high-quality spirits. Kibao Gin offers a fresh, juniper-forward taste, crafted for discerning consumers who value unique flavors and experiences. According to KWAL Commercial Director, Jonas Geeraerts, Kibao Gin is crafted for a bold new generation of discerning consumers seeking unique and pronounced flavours, including juniper-forward profiles, botanical blends, and natural, refreshing ingredients. “They are ambitious, adventurous, and eager to try new things and experiences, including when socializing with friends. Kibao Gin is a versatile, mixable gin that caters to this curiosity,” said Mr.…
Ogilvy Africa has introduced OBrio, a cutting-edge media intelligence platform designed to provide businesses with unparalleled clarity and control over their marketing performance. OBrio aggregates data from various channels, including traditional media, digital marketing, social media, mobile apps, and websites, into a single, actionable dashboard. This allows businesses to monitor and compare performance across all marketing efforts and make data-driven decisions. The platform’s proprietary OBrio Score offers a unified metric that assesses overall marketing effectiveness, considering factors such as reach, engagement, sentiment, conversions, and more. This provides businesses with a clear picture of their marketing impact and ROI. OBrio delivers…
JPMorgan Chase Bank N.A., a leading American financial conglomerate, has been granted permission by the Central Bank of Kenya (CBK) to establish a representative office in the country. The representative office will serve as a marketing and liaison hub for JPMorgan Chase, facilitating business development and fostering relationships with local clients and partners. “This authority is granted pursuant to Section 43 of the Banking Act and follows the fulfilment, by JPMorgan Chase Bank N.A., of the stipulated authorisation requirements,” CBK said. While the office will not conduct full-fledged banking operations in Kenya, it will provide a platform for JPMorgan Chase…