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Property sector hit with 12.5pc tax

Kenya has more than doubled the tax rate on gains made from the sale of properties and securities trading off the Nairobi Securities Exchange in a bid to generate more revenue to finance the Ksh2.8 trillion ($28 billion) budget for the 2019/2020 fiscal year. National Treasury Cabinet Secretary Henry Rotich increased the capital gains tax to 12.5 per cent from five per cent, arguing the move was meant to enhance equity and fairness as well as harmonise the rate with other jurisdictions including East African Community…

Uganda bans use of Kenyan Currency

Kenyans living in Uganda and Tanzania will only be allowed to change their currency in the country after Bank of Uganda joined Tanzania central bank in banning Kenyan currency conversion. Bank of Uganda issued a notice barring currency conversion and repatriation to Kenya stating that all conversions would be done within Kenya.Kenyan Central Bank Governor Dr Patrick Njoroge said he would work closely with sister central bankers to ensure illicit cash is not smuggled through East African hubs.The Kenyan apex bank knows…

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Suraya secures Sh1.6bn to complete housing projects

The funding has been secured from four commercial banks namely Diamond Trust Bank (DTB), Cooperative Bank, National Bank of Kenya (NBK) and Equity Bank and will see five developments targeting middle and high-end buyers within Nairobi County and its environs now completed.

ICT

May 2019

Unpacking East Africa Trade Potential

April 2019

NOV- DEC 2018

October 2018

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