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Radio Generation Kenya
Radio Generation Kenya

Business

Tribunal rules switching services exempt from VAT in blow to KRA
Business

Tribunal rules switching services exempt from VAT in blow to KRA

The judgment arose from a case filed by Kenswitch, which was contesting a Sh41.6 million VAT demand on income earned from switching fees. Kenswitch manages interbank ATM and point-of-sale connectivity, allowing cardholders to access banking services across different institutions. The tax agency insisted that the firm’s income was tied to technology services and should attract VAT.

Kenya launches geothermal fertiliser plant to cut import strain
Business

Kenya launches geothermal fertiliser plant to cut import strain

Fresh data shows fertiliser imports have eased for a second year after record levels in 2023. Between January and June this year, imports reached 443,701 tonnes valued at about Sh25.63 billion, slightly lower than the 445,857 tonnes worth Sh27.71 billion recorded in the same period last year. The decline extends the drop from the 2023 peak of 629,566 tonnes valued at Sh44.8 billion, a two-year contraction of roughly one-third in quantity and more than two-fifths in value.

Cane crunch deepens as sugar output declines
Business

Cane crunch deepens as sugar output declines

Figures from the Kenya National Bureau of Statistics indicate sugar mills produced 406,807 tonnes between January and August, compared with 541,681 tonnes in a similar period in 2024. This decline of 24.89 per cent has been linked to a lack of fully grown cane after farmers and processors harvested ahead of schedule in previous cycles and scaled back planting, leaving plantations struggling to regenerate.

UFAA urges Kenyans to claim billions in dormant funds before October 31 deadline
Business

UFAA urges Kenyans to claim billions in dormant funds before October 31 deadline

An asset is considered unclaimed when its owner cannot be traced for a specified period, which is typically two years for bank accounts and one year for employer-held funds. Despite efforts to contact the owner via their last known address, the asset is deemed unclaimed and must be remitted to UFAA by the 31st of October each year.

Trump says TikTok deal with China may be finalized during meeting with Xi
Technology

Trump says TikTok deal with China may be finalized during meeting with Xi

Top officials from China and the United States reconvened on Sunday for a second day of trade talks in Malaysia as Trump began his three-nation Asia tour. His meeting with Xi is scheduled for Thursday, October 30, where they are also expected to discuss tariffs, trade, fentanyl, agricultural exports, and rare earths.

CBK survey shows firms boosting staff for year-end surge
Business

CBK survey shows firms boosting staff for year-end surge

The survey, which included responses from over 1,000 private-sector chief executives, indicates that businesses anticipate higher orders, increased sales, larger production volumes, and more employment opportunities in the fourth quarter. The optimism is linked to seasonal trends and a continued easing of monetary policy, which has lowered borrowing costs and lifted confidence across sectors such as agriculture, manufacturing, services, and tourism.