Prime News Kenya

Current Business News in Kenya: Banking | Economics

KRA to miss revenue target

The Kenya Revenue Authority, KRA is likely to miss revenue collection targets by a wider margin this year, further jeopardizing the government’s fiscal plan.

Vivo set to take 50pc stake in KFC franchise

Oil marketer Vivo Energy, which trades under the Shell brand name, is set to take a 50 percent stake in KFC in East Africa, in a deal with the owners of the fast food franchise Kuku Foods East Africa Holdings.

US announces travel ban to assist Kenya in war against graft

Corrupt individuals have been banned from visiting the United States or investing their money there as the effects of a mutual assistance framework being sought by Kenyan investigative agencies with international partners in order to fight graft begins to bite.

Kenyan manufacturer calls for tax-cuts

Manufacturing is one of President Uhuru Kenyatta Big Four Agenda but the imposition of excise duty on Kenyan products in other East African countries goes against the common external tariffs which make it costly to operate.

Local manufacturers have on several occasions called for tax-cuts to ensure a level-playing ground with other companies in other Eastern African countries.

Equity Bank lends Sh6.5b to MSMEs in three months

Equity Bank lent out Ksh 6.5 billion to Micro, Small and Medium Enterprises (MSMEs) as at the first quarter 2019, which is part of a Ksh 35.3 billion investment in social programmes through the Equity Group Foundation (EGF).