Author: Korir Issa

The Kenya Revenue Authority (KRA) plans to launch an online chatbot to provide tax information and services to micro, small, and medium enterprises (MSMEs). This initiative, announced by Mr. George Obell, Acting Commissioner of the Micro and Small Taxpayers Department, aims to enhance customer service and improve tax knowledge among MSMEs. The chatbot will address common queries related to tax compliance, complementing KRA’s ongoing nationwide taxpayer sensitisation programs. Mr Obell emphasised KRA’s commitment to simplifying tax processes for MSMEs to boost their contribution to national revenue. He stated, “KRA is building a tax system that simplifies registration, filing, and payment…

The Betting Control and Licensing Board (BCLB) has banned the use of celebrities, influencers, and content creators in gambling advertisements as part of new measures to protect vulnerable Kenyans from the risks of betting. This announcement follows the lifting of a 30-day suspension on gambling ads that began on April 29. “Gambling adverts shall not glamorise betting or use celebrities, influencers, and content creators to endorse or promote gambling,” the board stated in a notice on Thursday. During the suspension, the BCLB collaborated with a multiagency team to develop new regulations aimed at promoting responsible gambling and reducing exposure to…

Equity Group Holdings Plc, East and Central Africa’s largest bank by market capitalisation, reported a 4% drop in net profit for the first quarter ended March 31, 2025, amid a challenging economic environment and lower non-funded income. Key Financial Highlights Metric Q1 2025 Q1 2024 YoY Change Total Income KSh 48.2 Bn KSh 50.0 Bn –4% Net Interest Income KSh 28.6 Bn KSh 27.8 Bn +3% Non-Funded Income KSh 19.6 Bn KSh 22.3 Bn –12% Loan Loss Provisions KSh 3.4 Bn KSh 6.1 Bn –44% PBT KSh 18.7 Bn KSh 20.2 Bn –8% PAT KSh 15.4 Bn KSh 16.0 Bn…

Majid Al Futtaim, Carrefour’s exclusive franchisee in Kenya, has opened its 29th store at Sea Angel Mall on Jomo Kenyatta Avenue, in Mombasa’s Central Business District.  This milestone introduces Carrefour’s first 24-hour outlet in Mombasa CBD, offering round-the-clock grocery access for residents, commuters, and travellers in a high-traffic area.  Carrefour now operates four stores in Kenya’s coastal region, including Promenade Mall, City Mall, and Diani Mall, reinforcing its commitment to economic growth and community development.  “Our goal is to create ‘Great Moments for Everyone, Every Day’ by delivering convenient, enjoyable shopping experiences centered on quality, affordability, and shared value,” said…

Standard Chartered Bank Kenya Plc reported a 13.5% decline in net profit to KSh 4.86 billion for the first quarter of 2025, marking its first earnings contraction in recent years. This dip follows KSh 5.61 billion in profit after tax recorded during the same period in 2024. The primary driver for the profit reduction was a significant 59.1% plunge in forex trading income, which negatively impacted overall non-interest revenue. Total operating income consequently fell by 11.2% to KSh 11.60 billion, reversing the double-digit growth over the past two years. While net interest income remained relatively steady at KSh 8.21 billion,…

Safaricom has enhanced credit solutions to support micro, small, and medium enterprises (MSMEs) across Kenya, reinforcing its commitment to financial inclusion. Key Offerings Taasi Till: A short-term business credit facility offering loans from Ksh 1,500 up to Ksh 250,000, depending on eligibility. Fuliza Biashara: An overdraft facility for Lipa na M-PESA merchants, allowing multiple overdrafts ranging from Ksh 1,000 to Ksh 400,000 based on assigned limits. Repayments are now flexible and automatically recovered when there are inflows on the till, ensuring business continuity. Taasi Pochi: Credit from Ksh 1,000 to Ksh 250,000 available instantly on Pochi la Biashara wallets via…