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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…

The Results-Based Financing (RBF) and Debt Facilities under the KOSAP are financed by the World Bank and implemented by the Ministry of Energy alongside the Kenya Power and Lighting Company (KPLC) and the Rural Electrification and Renewable Energy Corporation (REREC).

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…

A report, released on Wednesday, highlights how the first phase of the program has directly impacted more than 1,000 key individuals.

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.