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    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    UK’s Serious Fraud Office closes bribery investigations into British American Tobacco

    US Ambassador to Kenya Kyle McCarter has resigned

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Injustice 5 years on, haunts Safaricom killer director

    Injustice 5 years on, haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

  • Markets
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

  • Real Estate
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

    Moad Capital, leading the homes of the future

    Moad Capital, leading the homes of the future

  • Tech
    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

    Samsung banking on technology personalisation to increase market share

    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Whatsapp to block users this February following new policy

    Whatsapp to block users this February following new policy

    Tough times ahead as taxis set to increase fares

    Tough times ahead as taxis set to increase fares

  • World Business

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    • Agribusiness
    • Banking
      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

      Equity Group Appoints Christopher Newson as Non-Executive Director

      Equity Group Appoints Christopher Newson as Non-Executive Director

      How To Get Advance Salary Loan Via Co-operative Bank On Your Phone

      Co-operative Bank Launches Global Money Transfer Service

    • Insurance
      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

      DIB Awarded Best Islamic Bank in Kenya

      DIB Awarded Best Islamic Bank in Kenya

      Insurance: IRA Foils Over Ksh300 Million Fraudulent Claims

      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

      Tom Gitogo offloads his shares in CIC Insurance

      KCB appoints new Director of Marketing and Communications

      KCB appoints new Director of Marketing and Communications

    • Manufacturing
    • Opinion
      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

Kenyan Business Feed
  • Home
  • News
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    UK’s Serious Fraud Office closes bribery investigations into British American Tobacco

    US Ambassador to Kenya Kyle McCarter has resigned

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Injustice 5 years on, haunts Safaricom killer director

    Injustice 5 years on, haunts Safaricom killer director

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

  • Markets
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Price of bread rises to Ksh55

    Price of bread rises to Ksh55

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    SIB banks’ foreign investment arm records mild drop in returns

    SIB banks’ foreign investment arm records mild drop in returns

  • Real Estate
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    National Bank and Octagon ink 100 billion service partnership

    National Bank and Octagon ink 100 billion service partnership

    Real Estate: Cytonn invites bids for this 4 acre piece of prime land in Kilimani

    Mizizi Africa Homes voted best low cost housing developer 2020

    Mizizi Africa Homes voted best low cost housing developer 2020

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    Cytonn Hands Over Phase III of Comprehensive-Lifestyle Project, The Alma

    32% of Kenyans to change houses over Covid-19

    32% of Kenyans to change houses over Covid-19

    Kenyan Firm awarded Most Innovative Community Developer 

    Cytonn Real Estate completes The Alma Phase 3; 120 units set for handover

    Serviced Apartments Record Decline in Rental Yields

    Serviced Apartments Record Decline in Rental Yields

    Moad Capital, leading the homes of the future

    Moad Capital, leading the homes of the future

  • Tech
    LG unveils premium monitors

    LG unveils premium monitors

    Pesalink appoints Gituku Kirika as CEO

    Pesalink appoints Gituku Kirika as CEO

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    realme C12 and 7i now Available In Kenya

    2021: realme to release more smartphone in Kenya

    Samsung banking on technology personalisation to increase market share

    Samsung banking on technology personalisation to increase market share

    Cellulant CEO Ken Njoroge to step down in 2021

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Whatsapp to block users this February following new policy

    Whatsapp to block users this February following new policy

    Tough times ahead as taxis set to increase fares

    Tough times ahead as taxis set to increase fares

  • World Business

    Twitter CEO finally breaks silence about banning US President Donald Trump from the platform

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Millions Abandon Whatsapp over new Contentious Policy, Signal, Telegram record growth

    Trump threatens to slash US funding to World Health Organization

    A year later, WHO still insists on visiting China to probe virus origin

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    F1 superstar to miss Sakhir GP after testing positive for coronavirus – Statement

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Boeing’s 737 Max Cleared to Fly in the US After Crashes

    Guinness forced to recall contaminated brand

    Guinness forced to recall contaminated brand

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    WTA Names Kenya as Africa’s Leading Tourist Destination 2020

    United States: Close Contest as Trump Declares himself Winner

    United States: Close Contest as Trump Declares himself Winner

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

    Terror group Al-Shabaab collects almost as much tax as the Somalia government – Report

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Tatu City Partners with Konza to Attract Investors to Kenya

    Tatu City Partners with Konza to Attract Investors to Kenya

    LG unveils premium monitors

    LG unveils premium monitors

    Government cancels appointments for passport applications

    Kenyan Passport among the most powerful in Africa

    ‘Beware of fake currency’, CBK Warns

    Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Samsung Galaxy S21 is now out,pre orders open in Kenya

    Brace for harsh times as fuel pump price hikes

    Brace for harsh times as fuel pump price hikes

    6.5 million register new mobile money accounts in 2020 -CBK

    6.5 million register new mobile money accounts in 2020 -CBK

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    KRA wins Kshs 105.6 million case against Mars Logistics Limited

    Hospitality Industry Players Eyeing MICE for Business Revival

    Hospitality Industry Players Eyeing MICE for Business Revival

    • Agribusiness
    • Banking
      ‘Beware of fake currency’, CBK Warns

      Diaspora remittances rose by 11 per cent to Sh341 billion in 2020 – CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      6.5 million register new mobile money accounts in 2020 -CBK

      SIB banks’ foreign investment arm records mild drop in returns

      SIB banks’ foreign investment arm records mild drop in returns

      DTB issues profit warning

      DTB issues profit warning

      How to join, get a loan from Metropolitan Sacco

      Stanbic Bank systems down over Christmas period

      Equity Restructures Ksh92 Billion Loans To cushion Customers Against COVID-19

      Equity Becomes first bank in Eastern and Central Africa to achieve trillion-shilling balance sheet

      Equity Group Appoints Christopher Newson as Non-Executive Director

      Equity Group Appoints Christopher Newson as Non-Executive Director

      How To Get Advance Salary Loan Via Co-operative Bank On Your Phone

      Co-operative Bank Launches Global Money Transfer Service

    • Insurance
      ICEA Lion Life appoints a new CEO

      ICEA Lion Life appoints a new CEO

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Exposed: Insurance Company on The Spot for Fruatrating clients

      Octagon feted in 2020 World Pension Summit Innovation Awards

      Octagon feted in 2020 World Pension Summit Innovation Awards

      What do you need to know before purchasing car insurance?

      What do you need to know before purchasing car insurance?

      National Bank of Kenya Bags Global Recognition

      National Bank of Kenya Bags Global Recognition

      DIB Awarded Best Islamic Bank in Kenya

      DIB Awarded Best Islamic Bank in Kenya

      Insurance: IRA Foils Over Ksh300 Million Fraudulent Claims

      20 out of 56 licensed insurers in Kenya fail capital test

      Tom Gitogo offloads his shares in CIC Insurance

      Tom Gitogo offloads his shares in CIC Insurance

      KCB appoints new Director of Marketing and Communications

      KCB appoints new Director of Marketing and Communications

    • Manufacturing
    • Opinion
      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      OPINION: Managing the end-of-life of products to accelerate a circular economy in Kenya

      Why Digital Services Tax is a retrogressive policy

      Why Digital Services Tax is a retrogressive policy

      How Citizen TV Became The Most Watched in Kenya

      How Citizen TV Became The Most Watched in Kenya

      This is the new Safaricom logo

      Fail or win? Mixed Reactions over Safaricom’s new logo

      After fuliza, Safaricom introduces another way to borrow money

      OPINION: Why Safaricom’s Fuliza is a rip off!

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      OPINION: Conserve Nature Even as you Work to Achieve SDGs

      Crisis as young Kenyans now embrace Crime as lifestyle

      Crisis as young Kenyans now embrace Crime as lifestyle

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      Employment Exit Strategy: The smart way to leave job for entrepreneurship.

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

      OPINION: Why Amina Mohammed’s Push to Head WTO is ill-timed

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Kenyan Business Feed
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GoK Gets Ksh66 billion Out Of Planned Ksh78 Billion from Parastatals

by Montui
November 21, 2019
in News
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The National Treasury has raised 66 billion shillings out of a target of 78 billion in dividends and retained earnings from state corporations, Ukur Yatani said on Wednesday.

Ukur Yatani, who is the acting Cabinet Secretary for National treasury said state companies had not been remitting their dividends at the end of every financial year as required by law, denying domestic reports that the move to take the cash would starve the banking sector of liquidity.

“These are just surplus funds. Their operational accounts and all other matters have not been touched,” he told Reuters, adding that the extra cash would be spent on development projects.

Kenya Ports Authority (KPA) said last week that it has remitted Sh18.7 billion to the treasury making it among the top state-owned entity in sending money to the government following a directive ordering State departments to surrender surplus cash.

Kenya Pipeline Company (KPC) and Kenya Airports Authority (KAA) also gave  Sh5billion and Sh12 billion respectovely.

Under the latest initiative, the Treasury has directed parastatals to stop re-directing surplus funds to projects before they get approvals.

Although the government’s position is that the money has not been remitted to it by parastatals at the end of financial years for far too long, experts disagree.

Economist David Ndii on Tuesday said that this points to the GoK being in dire straits than it has cared to admit in the past.

‘This (the directive) is going to impair the cash flow of these corporations and in effect, operations and service delivery. The state corporations which have had their own resources will now have to depend on the notoriously unreliable and unpredictable exchequer releases’ David Ndii wrote.

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ALSO READ: Consequences National Treasury Asking Parastatals To Give It Money – Two Economists Wehliye And Ndii Weigh In

The directive by the government to parastatals follows regulations published in 2018 that demand parastatals to remit reasonable returns to shareholders. Regulators, on the other hand, are required to remit 90 per cent of their net surplus.

President Uhuru Kenyatta ordered parastatals to surrender surplus cash to the Treasury, as the government looks for ways to finance its development projects and pay debts that have now gone through the ceiling.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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