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Browsing: Kenya
Regional bank Equity Group Holdings has announced a 98 percent growth in half year profits to Sh17.9 billion up from…
Kenya’s Ministry of Devolution together with the Food and Agriculture Organization say the country requires at least US$87 million to…
Centum Investment Company subsidiary Vipingo Development Limited (VDL) has handed over keys to more than 300 home buyers to their…
A new report by the Central Bank of Kenya has revealed that bed occupancy in some Kenyan hotels increased to…
Looking at the bigger picture, speculations are that the milk and milk product levies and taxes are designed to lure Uganda to choose favourably towards other trade issues that are pending.
As local Ugandan media puts it; “Uganda maintains that if there are issues that need to be addressed, they can be handled through bilateral arrangements or the regional trade agreements within the East African Community instead of using arbitrary means such as high taxes.”
Squeezing Uganda to act in its favour, Kenya has also imposed what Uganda is terming ‘a restriction to Ugandan diary products since January 2020.’ Notably, Kenya is Uganda’s largest milk trading partner in the region, yet for over an year now, Kenya has maintained restrictions on Ugandan milk products despite the East African Community (EAC) common market protocol.
The next step in harmonizing policies and operating modules, is the need centralizing the related revenue administration and collection, because; “When we harmonize our tax administration we shall not compete with each other as EAC member states,” the sector experts reasoned.
There is also the matter of Visa fees which gravely affect the ability of traders to move between countries. It is now expected that the Republics of South Sudan, Uganda, and Kenya will expedite the removal of visa fees while the rest of the EAC partner states still need to remove what was described as ‘discriminatory fees, levies, and charges’ that hinder trade and persons movement across borders.
While others are still trying to wrap their heads around blockchains and the safety of cryptos, Africa is embracing this…
The coronavirus pandemic continues to have devastating effects on key markets in the Kenyan economy, among them paints and coatings.…
A new report by Knight Frank shows that whilst still declining, prime residential rents declined at a slower rate of…
Kenya received a further 180,000 doses of AstraZeneca vaccine on Friday, even as the number of those who have been…