Author: Muindi

Kenya will suspend passenger flights to and from the UK, joining a growing list of countries who have instituted travel bans, its national carrier announced Monday. “The suspension is due to the directive issued by the Government of Kenya suspending all flights from the UK, effective midnight 9th April 2021 at 00:00 HRS GMT until further notice,” Kenya Airways said in an emailed statement. “Due to the increased demand for travel to the UK before the advisory takes effect on 9th April, we have added 2 new flights on 7th and 8th April 2021. We sincerely apologise to all our…

The Kenya Revenue Authority (KRA) collected KSh144.6 billion in March, the highest revenue performance rate despite the challenging environment. The tax collector registered 11.2% revenue growth collecting a surplus of Kshs 6.6 billion in March 2021.  This was the fourth month running that KRA posted an improved and above target performance since December 2020. ”This is an outstanding performance compared to the month of February when KRA collected KSh127.7 billion registering a performance rate of 105.1 per cent to surpass its February revenue collection target,” KRA said in a statement.  Domestic Taxes registered a performance rate of 91.4 per cent…

Total Kenya Plc on Thursday reported a 30 per cent growth in consolidated profit after tax (PAT) of Kshs 3,297 million compared to Ksh 2,535 million posted the previous year. The company attributed the impressive performance to the effective action plans put in place by the board and management from the start of the coronavirus pandemic.  “They included; optimization of fuel stocks, diversification of revenues and prudent management of operating expenses,” it said in the financials. Its asset base grew to Kshs 42.99 billion from Kshs 37.56 billion in 2019. The Directors recommend payment of a first and final dividend…

The National Treasury has gazetted the exemption of cash strapped Kenya Airways from the minimum tax at a rate of 1 per cent of their turnover. Through a Kenya Gazette notice dated March 17, 2021, National Treasury Secretary Ukur Yatani said: “In exercise of the powers confirmed by section 13(2) of the Income Tax Act the CS for National Treasury and Planning directs that the income derived from or accrued in Kenya by an airline in which the government of Kenya owns at least 45 per cent of its shares, and the subsidiaries of that airline shall be exempted from…

Kenya’s inflation quickened for the sixth straight month in March at 5.9 per cent from 5.78 per cent in February, data released by the Kenya National Bureau of Statistics (KNBS) showed on Wednesday. However, it remains within the government’s target range of 2.5%-7.5%. The higher rate of inflation was attributed to higher fuel costs.  During the month, the housing, water, electricity, gas and other fuels index rose by 0.59 per cent in the last one month. The transport index rose by 1.49 per cent. “The recent increase in fuel prices is expected to have a moderate impact on overall inflation,”…

East Africa is being critically undermined by illicit trade, according to the new report. According to the report, ‘An Unholy Alliance: Links Between Extremism and Illicit Trade in East Africa’ from the Counter Extremism Project (CEP), terror groups, urban gangs, and international crime groups are increasingly targeting East Africa as a destination market for illicit trade. Illicit trade consists of the exchange of a good or service between individuals or organisations where either the commodity or the unregulated manner of the exchange is deemed illegal in a given jurisdiction. In addition, using the region as a transport hub for the…