Browsing: Kenyan businesses

• Kenyan businesses in the hospitality and tourism sector are the most confident they will post growth in Q2
• Businesses in the energy sector are also optimistic of better Q2 despite challenges in the first quarter.
• The education sector reflects a balanced sentiment, with 33 per cent expressing extreme, moderate, and slight confidence in revenue growth.

Kenyan businesses in the hospitality and tourism sector are the most confident that they will grow their revenues in the second quarter of 2024 according to a new survey by Kenya National Chamber of Commerce and Industry (KNCCI).

Compared to other sectors, the hospitality and tourism sector exhibits a stronger sense of optimism, with 41 per cent extremely confident, 29 per cent moderately confident, 18 per cent slightly confident, and 12 per cent not confident of increasing their revenues.

In the agriculture sector, results indicate a mixed outlook, with 17 per cent of Kenyan businesses …

• The PMI Survey has found that Kenyan businesses witnessed increased demand for their exports in the international market in November 2022
• New order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months
• Although marginal in November, the rate of employment growth was the quickest since July 2022, attributable to a rise in new orders

Kenyan businesses witnessed increased demand for their exports in the international market in November 2022. This is according to the latest Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank Kenya. The index found that the rise in export orders strengthened further from October figures, having increased in each month since April 2022.

At the same time, new order inflows received by Kenyan businesses rose in November, extending the current growth sequence to three months. The rate of increase accelerated from the previous survey period and was modest but slower …

• Business activity in Kenya increased in September, helped by the conclusion of the general election 
• The Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank shows that the growth in business activity in Kenya was the first recorded in seven months 
• As a result, the headline index posted in September was at 51.7, up sharply from 44.2 in August.
• The reading signalled a renewed and modest improvement in overall business conditions.

A new report has shown that the conclusion of the general election in Kenya led to increased business activity in the country in September.

According to the Purchasing Managers’ Index (PMI) commissioned by Stanbic Bank, the growth in business activity in Kenya was the first recorded in seven months.

Business activity in Kenya was supported by customer demand growth following the general elections’ end.

It was also supported by an improvement in supply chains, encouraging firms to purchase more …

The index pointed to a solid improvement in the health of the private sector economy, helped by a recovery in business activity as Covid-19 cases continued to fall across the country.

New business levels at Kenyan companies rose sharply in February, as survey panellists commented on a rebound in customer demand and increased marketing efforts.

The rate of growth was the second-fastest since October 2020.

Export sales rose to a much greater extent than in January, but growth remained weaker than seen in the fourth quarter of last year.…

Kenyan businesses can now heave a sigh of relief after court has finally granted an injunction on minimum tax case.

In January this year, eight business associations representing the business community in Kenya have come together to call for the abolishment of the 1 per cent minimum tax introduced by the government. 

The new bill which was to take effect on 1^st  January this year was introduced through the Finance Bill, 2020 (the Bill). 

The bill was tabled in the National Assembly for debate and approval on 6 May 2020. This was a departure from previous years where finance bills would be introduced to the National Assembly after the reading of the national budget in June. This change was necessitated by recent constitutional interpretations issued by the court which barred the government from collecting taxes before the relevant tax provisions are approved by the …