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Business

KRA retains 8 percent tax on employee welfare benefits despite CBK rate cut
Business

KRA retains 8 percent tax on employee welfare benefits despite CBK rate cut

This is the first time in five quarters that the tax rate has remained unchanged despite a cut in the CBK’s Central Bank Rate (CBR). The CBK lowered the CBR to 9.25 percent from 9.50 percent on October 7, 2025, extending a monetary policy easing cycle that began in August last year and has reduced the rate by a total of 3.75 percentage points.

Treasury flags risk of billions in counties using private revenue systems
Business

Treasury flags risk of billions in counties using private revenue systems

The Treasury report underscores that such dependency undermines accountability and financial efficiency, making it difficult for counties to achieve self-sufficiency through own-source revenue. Despite setting ambitious collection targets, many counties continue to fall short, relying heavily on national government transfers to fund their operations.

Customs system downtime as KRA conducts iCMS maintenance Sunday
Business

Customs system downtime as KRA conducts iCMS maintenance Sunday

The iCMS is KRA’s digital platform that integrates all customs procedures into one central system, enabling efficient processing of import and export declarations, cargo management, and payments of duties. It connects KRA with external stakeholders such as traders, shipping lines, and clearing agents, allowing real-time communication and faster service delivery.

Government reshuffles Consolidated Bank board ahead of sale
Business

Government reshuffles Consolidated Bank board ahead of sale

The board shake-up comes shortly after the bank reported a profit for the first time in over ten years, largely attributed to cost-cutting efforts. For the six months ended June 2025, Consolidated Bank posted a profit after tax of Sh12 million, reversing a loss of Sh84 million in the same period last year. The bank had consistently reported losses since March 2016.

Treasury opts to repay, not refinance, Sh55bn TDB facility
Business

Treasury opts to repay, not refinance, Sh55bn TDB facility

According to Treasury records, as of June 2024, Kenya owed TDB about $418 million (Sh54 billion) in syndicated loans scheduled to mature between September and early October 2025. The largest portion, about $314.2 million (Sh40.6 billion) was due on September 19, while the remaining $116.3 million (Sh15 billion) was to be settled by October 6.

Kenya Power profit falls to Sh24.5bn as lower tariffs hit earnings
Business

Kenya Power profit falls to Sh24.5bn as lower tariffs hit earnings

At the same time, the cost of sales declined by 4 per cent, from Sh150.6 billion to Sh144.6 billion, resulting in savings of Sh5.94 billion. The company credited these savings to the stability of the shilling against key foreign currencies in which most power purchase agreements are priced.