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Allianz, one of the world’s leading insurers and asset managers has become the majority shareholder in Jubilee General Insurance Limited...

Three people have been charged before the Milimani law court Chief Magistrate Francis Andayi with several counts of tax frauds amounting to KShs.12.5 million. Victor Olingo Odhiambo, Rodgers Otieno Odhiambo and Moses Thure Odhiambo all directors of Remarc Logistics Limited, a clearing agent are jointly accused of making false cargo entries with lowered tax values to avoid paying required customs taxes while clearing goods. The Kenya Revenue Authority (KRA) established that the accused persons made eleven entries between 2015 and 2019 while acting as clearing agent on behalf a company that imported goods between the said dates. The three were given genuine invoices to lodge Import Declaration Forms (IDF) and later lodge entries for customs clearance of the consignments. However, they prepared lower value invoices with an intent to lower the tax liability without the knowledge of appointing company. They then cleared the consignments but billed the company using its genuine invoices, defrauding the Commissioner of Customs KShs. 12,544,635 in duties and taxes. The first eleven counts of the case involves making entries that are false in material particulars which a violation of section 203(a) of the East Africa Community Customs Management Act, 2004. They are also jointly charged with a count of fraudulent evasion of the payment of any duty contrary to section 203(e) of the same Act. Rodgers Otieno Odhiambo and Moses Thure Odhiambo both denied the charges and were granted a bond of Kshs. 400,000 with one surety or cash bail of KShs.200,000 each. Plea for the first accused, Victor Olingo Odhiambo and their company is deferred. The case will be mentioned on 13th May 2021.

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Airtel Kenya CEO Prasanta Das Sarma Airtel Kenya has not paid for its license to operate in Kenya since February...