Month: November 2019

India’s national airline has re-launched commercial operations to Kenya’s capital Nairobi, making a return to the route it abandoned a decade ago.

Air lndia’s flight from Mumbai to Nairobi landed at the Jomo Kenyatta International Airport (JKIA) on Wednesday with 100 passengers on board.

READ ALSO:KQ boosted by increased India flight deals

This marked the return of the airline to Kenya after 10 years.  It return is now seen a s a major boost for trade, investment and tourism activities between the two countries which have shared trade and economic ties for many years.

The airline will offer four direct flights a week-Tuesday, Wednesday, Friday and Sunday with plans to offer additional flights in the pipeline, it said during the launch.

READ ALSO:Kenya woos India in agribusiness trade ties

According to tourism industry players, Air India will be instrumental in increasing uptake from both Tier I and II …

The Global Gender Summit which kicked off on November 25 in Kigali-Rwanda, and first summit of-its-kind to be held in Africa, emerged with rather vital issues in the second-day, whereby top-notch financial leaders rallied their desire to see support to women business across the African business landscape.

The summit is running on a theme “Unpacking constraints to gender equality” has drawn in presidents, high government officials, multilateral development banks, private sector, civil society and top business and finance leaders from across the continent, who have mainstreamed their ideas on how gender issues influence African finance.

READ:Promoting women will boost African economic growth, World Bank says

According to the African Development Bank (AfDB) press release, Dr. Jennifer Blanke the bank’s Vice President for Agriculture, Human and Social Development, aligned her ideas along side other Leaders from multilateral development banks, financial institutions and the private sector called on peers to dispel …

Standard Chartered Bank (SCB) Kenya has launched a prestigious product offering – the Standard Chartered Visa Infinite credit card.

The Standard Chartered Visa Infinite credit card, targets the affluent segment by offering a range of value added benefits, including best-in-class privileges.

Targeting high net-worth customers SCB Visa Infinite credit card, comes with unparalleled advantages and rewards.

“We are constantly working towards bringing to our clients the highest quality of services available on the global market. The launch of the Visa Infinite credit card shows our bank’s commitment to bringing payment solutions that meet and exceed the expectations of our ever-expanding clientele,” CEO Kariuki Ngari said on Wednesday.

“As a leading issuer of credit cards in Kenya, we continually look at ways of becoming more customer centric,” he added.

The new Standard Chartered Visa Infinite credit card is in-line with the bank’s strategy to consistently deliver premium services to its “valued …

The licensed foreign currency trading platform has more than 1000 accounts already opened…

Women mean business in Africa, and available data shows that they tend to execute business operations or manage, compared to their male counterparts, thus—supporting women business with credit, business skills, and conducive operating environment might be the break that Africa has been eyeing.

According to the World Bank Report (Profit from Parity, Unlocking the potential of women business in Africa-2019), there are three factors that are found to limit women potentials in the business sphere, which are social norms, legal discrimination and the risk of gender-based violence ( for instance, the report shows, 14 per cent of women entrepreneurs in Malawi have been subjected to physical or emotional violence from their male counterparts).

All three factors are also buried under various segments such as endowment, which carry: education/skills, confidence or risks, finance and assets, networks and information. Another segment, that is an underlying constraint is the household level environment, which …

Tax collection is pristine to Tanzania’s development landscape, that’s they the Tanzania Revenue Authority (TRA) is striving to forge a Tanzanian success story via revenue collection which rose by 66.7 per cent in four years.

TRA Deputy Commissioner General Mr. Msafiri Mbibo announced yesterday during a press conference in  commercial-pulse Dar es Salaam that: during the last four  financial years, Tanzania has collected over $25.3 billion, pinning the raise to taxpayers compliance, arguing that, it is a direct result of transparency in the authority’s  operations and enhancing the overall tax administration system.

Tanzania has its fair share of taxing hurdles, just like any other African nation, as TRA pinpoints the weight of significant tax-paying lies on the shoulders of over 3 million taxpayers (by October 2019) in Tanzania, which rose from 2.2 million.

On the same note,  on Sunday November 24, Tanzania’s President John Magufuli, highlighted on the importance of …

Kenya has become one of the latest countries to strengthen the fight on tax evasion and profit shifting with signing of a tax treaty, in the wake of rising malpractices by global multi-nationals.

The national efforts to strengthen the country’s bilateral tax treaties, have received a boost with the signing of a multilateral convention to end tax avoidance in France.

This week, the country signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting Convention at the 10th Anniversary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) in Paris.

The Convention is the first multilateral treaty of its kind, allowing international collaboration initiatives to end tax avoidance among multinational firms under the OECD/G20 BEPS Project.

READ ALSO:Kenya’s tax evaders put on notice by President Kenyatta

The OECD/G20 BEPS Project delivers solutions for governments …

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Kenya has stepped up efforts to curb illicit financial flows (IFFs) through the signing of theYaoundé Declaration, with Africa losing $50 to $60 billion annually through illicit financial flows.

The National Treasury Acting Cabinet Secretary Ukur Yatani has provided the much needed shot in the arm for the Kenya Revenue Authority (KRA) efforts to tackle illicit financial flows through the Yaoundé Declaration.

While welcoming the commitment by the Government, KRA Commissioner General Githii Mburu said the instrument focuses on improving international tax cooperation through enhanced information sharing among the African Union (AU) member states to curb illicit financial flows.

READ ALSO:Corruption fueling illicit flow of money from Africa, delegates in Nairobi discuss

“KRA is encouraged by the Government’s swift moves to prioritize the signing of international treaties that will accelerate efforts to curb international tax evasion,” Githii said.

In a communique to the Chairperson of the Global Forum on …