Author: Muindi

A Kenyan court has issued a temporary injunction halting the implementation of the government’s new digital identity system, Maisha Namba. “Pending the hearing and determination of this Application, a conservatory order be and is hereby issued staying/halting the further and continued implementation of the Unique Personal Identifier (Maisha Namba), 3rd Generation National Identification Card (Maisha Card), Maisha Digital ID and Maisha Database,” read the statement in part. The ruling by High Court Judge, L.N Mugambi follows a petition challenging the constitutionality of the Maisha Namba rollout from filed by Haki na Sheria. “Should the respondents be allowed to proceed with…

Equity Group and the World Food Programme (WFP) signed a deal to provide financial resources and training to small-scale farmers in Africa. The agreement aims to improve food security and transition communities from relying on food aid to self-sufficiency. Key components of the agreement include training and facilitating access to loans through Equity Bank subsidiaries – Kenya, DRC, Rwanda, Uganda, Tanzania, South Sudan, and a Commercial Representative Office in Ethiopia – and providing technical assistance to processors and entrepreneurs in the agricultural value chain. The program will also train farmers on climate-resilient practices, regenerative agriculture, and financial management and offer…

The Capital Markets Authority (CMA) has greenlit new trading rules for 2024 at the Nairobi Coffee Exchange (NCE). These regulations aim to streamline operations and create a fair playing field for all licensed participants in the coffee value chain. Key Changes to the NCE Trading Rules 2024 The rules have introduced penalties for violations to deter misconduct during coffee auctions. Users, brokers, and buyers who break the rules risk losing their trading licenses. Mandatory implementation of the Direct Settlement System (DSS) for coffee transaction settlements. This ensures a dedicated account for managing coffee proceeds and facilitates timely payments to growers.…

The Kenyan High Court has ruled that golf clubs and similar recreational clubs are exempt from paying Value Added Tax (VAT) on membership fees and entrance fees. Justice Nixon Sifuna distinguished between “capital” (club funds) and “income” (profit from services). Membership fees are considered contributions to maintain club facilities, not payment for services, and thus not subject to VAT. Clubs Challenged Tax Demand The Kenya Revenue Authority (KRA) had demanded VAT on membership fees from several clubs, including Sigona Golf Club and Thika Golf Club. However, the clubs argued they were exempt as non-profit organizations. The Tax Appeals Tribunal sided…

Money sent home by Kenyans living abroad has surged by 12.9 per cent, reaching Ksh586 billion by June 2024. This marks a significant rise from the Ksh519.1 billion recorded in June 2023, according to the latest data from the Central Bank of Kenya (CBK). The remittances over the 12 months have jumped by Ksh66.936 billion. “The cumulative inflows for the 12 months to June remained steady at USD 4,535 million (about Ksh586 billion) compared to USD 4,017 million (about Ksh519.1 billion) in a similar period in 2023, an increase of 12.9 per cent,” stated CBK in its weekly bulletin on…

The Kenya Association of Manufacturers (KAM) has appointed Jane Karuku, Managing Director of East African Breweries, as its new chairperson for a two-year term. Previously serving as Vice Chairperson since July 2022, Karuku succeeded Rajan Shah and aims to build upon KAM’s purpose of promoting sustainable industrialization for national prosperity. “We have a lot of work to do to grow manufacturing’s contribution to Kenya’s GDP to 20% by 2030,” Karuku acknowledged. Her focus will be driving industrialization, expanding KAM’s membership, and fostering collaboration with all stakeholders. “Our primary goal is to make industrialization more significant in Kenya through KAM,” she…