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  • Managing business finances is a pivotal aspect of running a successful enterprise.
  • Before we dive into how to effectively manage business finances in Kenya, it’s crucial to understand the local financial landscape.
  • Every successful financial strategy begins with clear, attainable goals.

How to Effectively Manage Business Finances in Kenya

Managing business finances is a pivotal aspect of running a successful enterprise, regardless of its size. In Kenya, where the entrepreneurial spirit is vibrant, the need for effective financial management cannot be overstated. This comprehensive guide to business financial management in Kenya aims to provide entrepreneurs, financial managers, and small business owners with actionable insights and best practices to ensure their financial health.

Understanding the Kenyan Financial Landscape

Before we dive into how to effectively manage business finances in …

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Budgeting for Startups

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Starting a business is an exciting venture but comes with challenges, particularly in financial management. Budgeting is crucial for startups to ensure they allocate resources efficiently and sustainably.

The Importance of Effective Budgeting Techniques for Startups

Effective budgeting techniques for startups involve keeping track of expenses and strategic planning. A well-structured budget helps startups: Ensure financial stability, allocate resources wisely, prepare for unexpected costs, and, achieve long-term growth
Without a proper budget, startups may face cash flow issues, hindering their growth and sustainability.

Understanding the Financial Landscape for Startups in Kenya

Kenya’s startup ecosystem is vibrant and rapidly growing. However, it also presents unique financial challenges. High operational costs, fluctuating market conditions, and limited access to capital are common hurdles. Understanding these challenges is the first step in creating an effective budget.…

Understanding Business Taxation in Kenya

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Understanding business taxation in Kenya is crucial for any entrepreneur or business owner. With the rapid changes in tax laws and regulations, staying informed about the tax obligations for Kenyan businesses in 2024 is essential.

Business taxation in Kenya encompasses various taxes imposed on businesses by the government. These include corporate income tax, value-added tax (VAT), and withholding taxes. Understanding business taxes in Kenya in 2024 helps businesses plan their finances and ensure compliance with the law.

Importance of Tax Compliance

Tax compliance for businesses …

  • Zanzibar has been grappling with extremely high energy costs, oftentimes costing 50 percent higher than mainland Tanzania.
  • Zanzibar relies on a 125MW submarine grid line from mainland Tanzania for its growing electricity needs.
  • Rostam Aziz solar investment in Zanzibar is part of his wide focus on big energy investment projects around East Africa. In February, Rostam launched a $130 million cooking gas project in Dongo Kundu, Mombasa, Kenya.

With a planned $140 million investment in a solar power project that could see Zanzibar Island achieve electricity independence, Tanzania tycoon Rostam Aziz is coming out as a man with an eye for energy deals. Rostam’s Taifa Energy is liaising with Mauritius-based Generation Capital Ltd and state-owned Zanzibar Electricity Corporation (ZECO), to set up the 180MW green energy field in Zanzibar.

Over the years, the island of Zanzibar has been grappling with extremely high energy costs, oftentimes costing 50 percent higher than …

Barcelona, a city renowned for its architectural marvels and vibrant Catalan culture, is also the proud home of one of the most celebrated and successful football clubs in the world – FC Barcelona. The club’s rich history is inextricably intertwined with the city’s unwavering spirit, weaving a tapestry of triumphs, adversities, and an unwavering commitment to a unique style of play known as tiki-taka. This article delves into the profound legacy of Força Barça, exploring its impact on the club’s enduring success and its contribution to the evolution of the beautiful game.

Força Barça, which translates to “Strength Barça” in English, embodies the essence of the club’s indomitable spirit and resilience. It is a rallying cry that unites players, fans, and the entire Catalan community, transcending the boundaries of mere sporting allegiance. Força Barça represents the deep-rooted connection between the club and its fervent supporters, who have stood by their …

  • Africa is home to 65 percent of the world’s uncultivated fertile land, but millions sleep hungry daily.
  • Amini Corp seeks to address the scarcity of data in Africa as well as facilitate capital investment.
  • The scarcity of high-quality environmental data prevents others from building climate solutions such as farmer insurance schemes.

Amini Corp, a Kenyan-based climate tech startup, has raised $2 million in pre-seed funding which it plans to channel into developing an environmental data platform for Africa. The funding was secured through an oversubscribed round led by top European Climate Tech Fund, Pale Blue Dot. 

 

Other investors in the venture are Superorganism, RaliCap, W3i, Emurgo Kepple Ventures and angel investors from the global tech community.

 

Amini Corp seeks to address the scarcity of data in Africa as well as facilitate capital investment. The company also promotes climate resilience, and helps accelerate economic development opportunities in the region.…

  • Utility Kenya Power has started implementing the fourth phase of the Last Mile Connectivity Programme (LMCP) which will benefit an additional 280,473 Kenyan households.
  • The company has invited bids for turnkey contractors, who will undertake the electrification
    project in 32 counties in Kenya at a total cost of $193 million.
  • This phase will see deployment of 940 new transformers, maximisation of 3,735 existing transformers, and set up of associated power lines target counties.

Kenya Power has started preparations to implement the fourth phase of the Last Mile Connectivity Programme (LMCP), which will benefit an additional 280,473 Kenyan households.

The utility has invited bids for turnkey contractors who will undertake the electrification project in 32 counties at a total cost of $193 million. This phase of the LMCP project will entail the installation of 940 new transformers, and maximisation of 3,735 existing transformers. Further, target zones will benefit from the set …

  • In Kenya, fuel is set to cost more once the taxman effects 16 percent VAT from the current 8 percent, which will make already high pump prices simply prohibitive. 
  • Starting January 2024, Finance Bill also seeks to increase the advance tax payable on passenger and commercial trucks to $36.52 from $21.91 per year.
  • The new tax will simply increase the cost of transportation in Kenya, piling pressure on consumers already overburdened by high food prices amid sluggish economy.

Kenya’s transportation sector is at risk as the government considers fresh fuel VAT increase, which threatens to cripple businesses. Through the Finance Bill, the government is also proposing to increase the advance tax payable on passenger and commercial trucks to $36.52 from $21.91 per year. As a result, investors in the industry might be forced to scale down their operations even as others heap the costs on consumers. 

The looming hit by

  • ChatGPT has a premium version – ChatGPT Plus – that is only accessible for a monthly fee of $20.
  • Open AI termed the release of these new features as a move from an alpha phase to a beta phase, allowing access to over 70 third-party plugins. 
  • The power of the latest AI application has led to the development of AI-created SEO articles.

Open AI’s revolutionary product, ChatGPT, is readying additional features this week which allows more accurate internet search results. This move could power a new wave of subscribers for the AI platform that already has over 100 million users. 

 

The updates comes even as the firm faces mounting concerns that AI applications could render various jobs obsolete. To counter this, Open AI has set in motion a new approach to technology targeting various industries relying on the power of Artificial Intelligence.

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