Author: Muindi

You’ve probably seen it on your store receipt or felt it at the gas pump: Value Added Tax (VAT). Whereas it’s not the most glamorous line item, VAT is a consumption tax levied on the value added to goods and services at each stage of the supply chain, from production to final consumption.  This means that VAT is borne by the end consumer, with businesses acting as collection agents who then remit it to the taxman. With this in mind, one would expect an upward trajectory in collection; however, in Kenya, VAT compliance has been a rocky road. For instance,…

Family Bank has strengthened its national presence with the opening of its 96th branch, located at Kilifi Plaza in Kilifi County. This marks the bank’s 9th branch in the coastal region. The new branch offers tailored services, including asset finance, women’s banking, business financing, trade services, loan facilities, and digital banking solutions to enhance customer convenience. “Our focus remains on retail banking. Kilifi’s growing demand for financial services presents a compelling opportunity to support the local business community’s growth,” said Family Bank CEO Nancy Njau. She added, “This expansion reflects our commitment to empowering SMEs and strengthening our position as the…

Tata Chemicals Magadi was crowned the overall winner at the 2025 Energy Management Awards (EMA), hosted by the Kenya Association of Manufacturers (KAM). Milly Glass Works secured the runner-up position. The 21st EMA recognized outstanding corporate efforts in advancing energy efficiency and sustainability in Kenya, aligning with the nation’s net-zero emissions goals. First Lady Rachel Ruto highlighted the need for inclusive infrastructure through initiatives like the Last Mile Connectivity Project to expand rural electricity access. She stressed equitable energy transitions, noting, “By promoting clean cooking solutions, we reduce health risks and restore dignity in households. This is a matter of…

Luxury hospitality and travel group Hemingways Hospitality has expanded into Rwanda through the acquisition of Heaven Holdings, which includes The Retreat Hotel, Fusion Restaurant, Heaven Restaurant, Heaven Boutique Hotel, and Heaven Experiences, its tour operating arm. This marks Hemingways Collection’s fifth hotel property and its first outside Kenya. Founded in Kenya in 1988, Hemingways Hospitality has grown into a leading luxury boutique hotel brand and East Africa’s largest corporate travel management company. Rwanda’s Tourism Growth Potential CEO Ross Evans said the expansion into Rwanda represents a significant growth opportunity for tourism in one of the region’s premier luxury destinations. He…

Kenya’s inflation rate fell to 3.8% year-on-year in May 2025 from 4.1% in April, the Kenya National Bureau of Statistics (KNBS) reported on Friday. On a month-on-month basis, inflation rose by 0.5% in May, up from 0.3% in April. The increase in prices was mainly driven by a 6.3% rise in the food and non-alcoholic beverages index and a 2.3% increase in the transport index compared to May 2024. Housing, water, electricity, gas, and other fuels also contributed with a 0.8% rise over the same period. Kenya’s inflation remains comfortably within the Central Bank of Kenya’s target range of 2.5%…

East African Cables PLC has suffered a setback in its ongoing legal dispute with Equity Bank (Kenya) Limited, as the Court of Appeal dismissed its application for an injunction. As a result, the bank will proceed with the sale of four key properties. This development impacts the cable manufacturer, which is grappling with a reported debt exceeding Ksh 2.2 billion. The Court of Appeal’s decision, delivered by Justices J. Mohammed, Tuiyott, and Nyamweya, upheld a November 11, 2024, High Court ruling that had initially rejected East African Cables’ attempt to halt the property sales. The properties in question—L.R. No. 209/4235,…