Kenyan Business Feed
No Result
View All Result
Friday, December 6, 2019
Subscribe
  • Home
  • News
    President Uhuru okays Shs 73.4 billion for government projects funding

    President Uhuru okays Shs 73.4 billion for government projects funding

    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Minet launches a maternity support program to offer childbirth-preparation classes

    Minet launches a maternity support program to offer childbirth-preparation classes

    ‘Don’t Travel To Tanzania If You Are Gay’, US cautions Its Citizens

    ‘Don’t Travel To Tanzania If You Are Gay’, US cautions Its Citizens

    EkaBet banks on Boosted Odds to grow footprint

    EkaBet banks on Boosted Odds to grow footprint

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    Standard Group Issues Profit Warning

    Standard Group Issues Profit Warning

  • Markets
    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    African policymakers urged to embrace research, utilize findings to solve economic challenges

    African policymakers urged to embrace research, utilize findings to solve economic challenges

    Jumia closes shop in Tanzania days after exiting Cameroon market

    Jumia closes shop in Tanzania days after exiting Cameroon market

    IMF to renew Kenya’s US$ 1.5 Billion Loan Facility

    IMF to renew Kenya’s US$ 1.5 Billion Loan Facility

    Boost for business and leisure travellers as new serviced apartment complex start operations

    Boost for business and leisure travellers as new serviced apartment complex start operations

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    IDC’s IT Forum 2019: Focus on Enabling Innovation for the Digital Age

    IDC’s IT Forum 2019: Focus on Enabling Innovation for the Digital Age

    A Billion Shilling Dairy Product Stuck In Kenya Due To High Prices

    A Billion Shilling Dairy Product Stuck In Kenya Due To High Prices

  • Real Estate
    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Affordable Housing: Big boost for Jua Kali Associations as gov’t places Ksh. 3b order for doors and windows

    Affordable Housing: Big boost for Jua Kali Associations as gov’t places Ksh. 3b order for doors and windows

    Property Firm Username Investments Moves To A New Office

    SGR and expressway criticism uncalled for : The Standard

    Kenya Railways Gives Tenants Of Upper Estate In Kisumu Vacate Notice

    Dim Growth Prospects As Tenants Find Upmarket Properties Unfavourable – Hass Consult

    Dim Growth Prospects As Tenants Find Upmarket Properties Unfavourable – Hass Consult

    Tilisi mega-city launches green garden homes

    Tilisi mega-city launches green garden homes

    The Kenyan retail sector performance softened in 2019 with rental yields declining 1.6%

    The Kenyan retail sector performance softened in 2019 with rental yields declining 1.6%

    KOFISI, launches new office in Karen

    KOFISI, launches new office in Karen

    Cytonn Investments Seeks Approval for a Kshs 2.0b DREIT, To Diversify Real Estate Funding

    Cytonn Investments Seeks Approval for a Kshs 2.0b DREIT, To Diversify Real Estate Funding

  • Tech
    Visa Recognises Naivas Cashless Payments

    Visa Recognises Naivas Cashless Payments

    COMESA, EAC, ECOWAS launch digital networking platform to connect 50 million African business women

    COMESA, EAC, ECOWAS launch digital networking platform to connect 50 million African business women

    Germany Wants Europe’s Common Stance On 5G Networks

    Germany Wants Europe’s Common Stance On 5G Networks

    Twitter To Delete Inactive Accounts

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    PayPal Buys Out Online Shopping Tool Honey For Ksh409 Billion

    Facebook to expand language coverage in war on fake news

    New Facebook APP Pays People To Take Part In Surveys

    Elon Musk Explains Why Cybertruck Is Ugly

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

  • World Business
    Dubai Tourism partners with Hollywood stars to promote culture

    Dubai Tourism partners with Hollywood stars to promote culture

    US President Donald Trump Makes Surprise Visit To Afghanistan; Taliban On the Agenda

    Air India back in Kenya after 10 years

    Air India back in Kenya after 10 years

    KLM flys the latest Dreamliner Boeing 787-10 to Nairobi

    KLM flys the latest Dreamliner Boeing 787-10 to Nairobi

    39 people killed by floods in Kinshasa, Congo

    39 people killed by floods in Kinshasa, Congo

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Growing food demand, weather changes drive global herbicide market, report

    Growing food demand, weather changes drive global herbicide market, report

    Kenyans applying for legal status in the US arrested

    Kenyans applying for legal status in the US arrested

    World’s Richest: Bill Gates Is Back On Top

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    President Uhuru okays Shs 73.4 billion for government projects funding

    President Uhuru okays Shs 73.4 billion for government projects funding

    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Minet launches a maternity support program to offer childbirth-preparation classes

    Minet launches a maternity support program to offer childbirth-preparation classes

    Local Airlines Increase Number Of Flights To Popular Destinations Ahead Of Festive Season

    Local Airlines Increase Number Of Flights To Popular Destinations Ahead Of Festive Season

    OPINION: How long can our biggest killer be denied as a health issue?

    OPINION: How long can our biggest killer be denied as a health issue?

    EkaBet banks on Boosted Odds to grow footprint

    EkaBet banks on Boosted Odds to grow footprint

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    • Agribusiness
    • Banking
      Central Bank cuts key lending rate to boost credit access

      ‘Loans Will Be Affordable, But We Won’t Interfere In Pricing’, CBK

      Insurance agents awarded in annual fete

      Insurance agents awarded in annual fete

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Kenya Re  receives AA+ Global Credit  Ratings

      Kenya Re receives AA+ Global Credit Ratings

      SBM Bank Kenya Q3 Earnings Dip 64 Per Cent to KSh647 Million

      SBM Bank Kenya Q3 Earnings Dip 64 Per Cent to KSh647 Million

      I&M’s Acquisition Of Giro Bank Moves It To The Big Kenyan Banks League

      I&M’s Acquisition Of Giro Bank Moves It To The Big Kenyan Banks League

      Co-operative Bank Of Kenya Strategy Yields Kshs. 7.5 Billion In Half-year Profit

      Co-op Bank grows 5.8 Per Cent To Earn Ksh.10.9 billion Profit

      KCB half year profit up 5pc to Sh12.7bn

      KCB Group Profit Surges To Sh19 Billion

      Equity Bank named most socially responsible bank in Africa

      Equity Bank Nine Months Profit Rises 10 Per Cent To Sh17 billion

    • Insurance
      Insurance agents awarded in annual fete

      Insurance agents awarded in annual fete

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Kenya Re  receives AA+ Global Credit  Ratings

      Kenya Re receives AA+ Global Credit Ratings

      Jubilee ranked most attractive insurance company

      Jubilee ranked most attractive insurance company

      Islamic banking set for growth in Africa

      Islamic banking set for growth in Africa

      Insurance industry needs disruption : The Standard

      Kenyan Firm Partners With A UK Company To Provide International Medical Insurance

      Banking Sector Contributes Ksh207.2 Billion in Taxes

      Banking Sector Contributes Ksh207.2 Billion in Taxes

      Mayfair Insurance Compensates Likoni Tragedy Family

      Mayfair Insurance Compensates Likoni Tragedy Family

      Faulu Microfinance Bank inks ‘boda boda’ deal with Car and General

      Faulu Microfinance Bank inks ‘boda boda’ deal with Car and General

    • Manufacturing
    • Opinion
      OPINION: How long can our biggest killer be denied as a health issue?

      OPINION: How long can our biggest killer be denied as a health issue?

      Growing food demand, weather changes drive global herbicide market, report

      Four pesticide regulatory pillars are the route to food security

      Opinion: Farming by choice will drive Africa’s food security

      Opinion: Farming by choice will drive Africa’s food security

      How you’re sinking into debt in the name of maintaining cash flow

      How you’re sinking into debt in the name of maintaining cash flow

      All eyes on banks as Uhuru signs law to scrap rate cap

      Why It Is Hard For The GoK To Pay Suppliers

      OPINION: Africa must step up to support its innovators

      OPINION: Africa must step up to support its innovators

      Opinion: Free market far more advantageous for the sugar sector than the current heavily regulated regime

      Opinion: Free market far more advantageous for the sugar sector than the current heavily regulated regime

      How the cheap food bought by employees is ruining company’s performance

      How the cheap food bought by employees is ruining company’s performance

      LPG regulations lead the way in reshaping consumer behaviour and industry

      LPG regulations lead the way in reshaping consumer behaviour and industry

Kenyan Business Feed
  • Home
  • News
    President Uhuru okays Shs 73.4 billion for government projects funding

    President Uhuru okays Shs 73.4 billion for government projects funding

    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Minet launches a maternity support program to offer childbirth-preparation classes

    Minet launches a maternity support program to offer childbirth-preparation classes

    ‘Don’t Travel To Tanzania If You Are Gay’, US cautions Its Citizens

    ‘Don’t Travel To Tanzania If You Are Gay’, US cautions Its Citizens

    EkaBet banks on Boosted Odds to grow footprint

    EkaBet banks on Boosted Odds to grow footprint

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    Standard Group Issues Profit Warning

    Standard Group Issues Profit Warning

  • Markets
    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    African policymakers urged to embrace research, utilize findings to solve economic challenges

    African policymakers urged to embrace research, utilize findings to solve economic challenges

    Jumia closes shop in Tanzania days after exiting Cameroon market

    Jumia closes shop in Tanzania days after exiting Cameroon market

    IMF to renew Kenya’s US$ 1.5 Billion Loan Facility

    IMF to renew Kenya’s US$ 1.5 Billion Loan Facility

    Boost for business and leisure travellers as new serviced apartment complex start operations

    Boost for business and leisure travellers as new serviced apartment complex start operations

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    IDC’s IT Forum 2019: Focus on Enabling Innovation for the Digital Age

    IDC’s IT Forum 2019: Focus on Enabling Innovation for the Digital Age

    A Billion Shilling Dairy Product Stuck In Kenya Due To High Prices

    A Billion Shilling Dairy Product Stuck In Kenya Due To High Prices

  • Real Estate
    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Affordable Housing: Big boost for Jua Kali Associations as gov’t places Ksh. 3b order for doors and windows

    Affordable Housing: Big boost for Jua Kali Associations as gov’t places Ksh. 3b order for doors and windows

    Property Firm Username Investments Moves To A New Office

    SGR and expressway criticism uncalled for : The Standard

    Kenya Railways Gives Tenants Of Upper Estate In Kisumu Vacate Notice

    Dim Growth Prospects As Tenants Find Upmarket Properties Unfavourable – Hass Consult

    Dim Growth Prospects As Tenants Find Upmarket Properties Unfavourable – Hass Consult

    Tilisi mega-city launches green garden homes

    Tilisi mega-city launches green garden homes

    The Kenyan retail sector performance softened in 2019 with rental yields declining 1.6%

    The Kenyan retail sector performance softened in 2019 with rental yields declining 1.6%

    KOFISI, launches new office in Karen

    KOFISI, launches new office in Karen

    Cytonn Investments Seeks Approval for a Kshs 2.0b DREIT, To Diversify Real Estate Funding

    Cytonn Investments Seeks Approval for a Kshs 2.0b DREIT, To Diversify Real Estate Funding

  • Tech
    Visa Recognises Naivas Cashless Payments

    Visa Recognises Naivas Cashless Payments

    COMESA, EAC, ECOWAS launch digital networking platform to connect 50 million African business women

    COMESA, EAC, ECOWAS launch digital networking platform to connect 50 million African business women

    Germany Wants Europe’s Common Stance On 5G Networks

    Germany Wants Europe’s Common Stance On 5G Networks

    Twitter To Delete Inactive Accounts

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    PayPal Buys Out Online Shopping Tool Honey For Ksh409 Billion

    Facebook to expand language coverage in war on fake news

    New Facebook APP Pays People To Take Part In Surveys

    Elon Musk Explains Why Cybertruck Is Ugly

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

    Introducing Galaxy Fold: Samsung Unfolds the Future with a Whole New Mobile Category

  • World Business
    Dubai Tourism partners with Hollywood stars to promote culture

    Dubai Tourism partners with Hollywood stars to promote culture

    US President Donald Trump Makes Surprise Visit To Afghanistan; Taliban On the Agenda

    Air India back in Kenya after 10 years

    Air India back in Kenya after 10 years

    KLM flys the latest Dreamliner Boeing 787-10 to Nairobi

    KLM flys the latest Dreamliner Boeing 787-10 to Nairobi

    39 people killed by floods in Kinshasa, Congo

    39 people killed by floods in Kinshasa, Congo

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Huawei CEO confident Huawei can become the world’s leading smartphone without Google

    Growing food demand, weather changes drive global herbicide market, report

    Growing food demand, weather changes drive global herbicide market, report

    Kenyans applying for legal status in the US arrested

    Kenyans applying for legal status in the US arrested

    World’s Richest: Bill Gates Is Back On Top

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    President Uhuru okays Shs 73.4 billion for government projects funding

    President Uhuru okays Shs 73.4 billion for government projects funding

    KWAL launches new alcoholic brand in the Kenyan market

    KWAL launches new alcoholic brand in the Kenyan market

    Kenyan Firm awarded Most Innovative Community Developer 

    Kenyan Firm awarded Most Innovative Community Developer 

    Minet launches a maternity support program to offer childbirth-preparation classes

    Minet launches a maternity support program to offer childbirth-preparation classes

    Local Airlines Increase Number Of Flights To Popular Destinations Ahead Of Festive Season

    Local Airlines Increase Number Of Flights To Popular Destinations Ahead Of Festive Season

    OPINION: How long can our biggest killer be denied as a health issue?

    OPINION: How long can our biggest killer be denied as a health issue?

    EkaBet banks on Boosted Odds to grow footprint

    EkaBet banks on Boosted Odds to grow footprint

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    How to Check 2020 Form One Placement: Download Admission Letter (KCPE 2019)

    High Food Prices Push Inflation Rate to 5.6 %

    High Food Prices Push Inflation Rate to 5.6 %

    • Agribusiness
    • Banking
      Central Bank cuts key lending rate to boost credit access

      ‘Loans Will Be Affordable, But We Won’t Interfere In Pricing’, CBK

      Insurance agents awarded in annual fete

      Insurance agents awarded in annual fete

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Kenya Re  receives AA+ Global Credit  Ratings

      Kenya Re receives AA+ Global Credit Ratings

      SBM Bank Kenya Q3 Earnings Dip 64 Per Cent to KSh647 Million

      SBM Bank Kenya Q3 Earnings Dip 64 Per Cent to KSh647 Million

      I&M’s Acquisition Of Giro Bank Moves It To The Big Kenyan Banks League

      I&M’s Acquisition Of Giro Bank Moves It To The Big Kenyan Banks League

      Co-operative Bank Of Kenya Strategy Yields Kshs. 7.5 Billion In Half-year Profit

      Co-op Bank grows 5.8 Per Cent To Earn Ksh.10.9 billion Profit

      KCB half year profit up 5pc to Sh12.7bn

      KCB Group Profit Surges To Sh19 Billion

      Equity Bank named most socially responsible bank in Africa

      Equity Bank Nine Months Profit Rises 10 Per Cent To Sh17 billion

    • Insurance
      Insurance agents awarded in annual fete

      Insurance agents awarded in annual fete

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Net interests growth push Family Bank earnings to Ksh. 1.01 b

      Kenya Re  receives AA+ Global Credit  Ratings

      Kenya Re receives AA+ Global Credit Ratings

      Jubilee ranked most attractive insurance company

      Jubilee ranked most attractive insurance company

      Islamic banking set for growth in Africa

      Islamic banking set for growth in Africa

      Insurance industry needs disruption : The Standard

      Kenyan Firm Partners With A UK Company To Provide International Medical Insurance

      Banking Sector Contributes Ksh207.2 Billion in Taxes

      Banking Sector Contributes Ksh207.2 Billion in Taxes

      Mayfair Insurance Compensates Likoni Tragedy Family

      Mayfair Insurance Compensates Likoni Tragedy Family

      Faulu Microfinance Bank inks ‘boda boda’ deal with Car and General

      Faulu Microfinance Bank inks ‘boda boda’ deal with Car and General

    • Manufacturing
    • Opinion
      OPINION: How long can our biggest killer be denied as a health issue?

      OPINION: How long can our biggest killer be denied as a health issue?

      Growing food demand, weather changes drive global herbicide market, report

      Four pesticide regulatory pillars are the route to food security

      Opinion: Farming by choice will drive Africa’s food security

      Opinion: Farming by choice will drive Africa’s food security

      How you’re sinking into debt in the name of maintaining cash flow

      How you’re sinking into debt in the name of maintaining cash flow

      All eyes on banks as Uhuru signs law to scrap rate cap

      Why It Is Hard For The GoK To Pay Suppliers

      OPINION: Africa must step up to support its innovators

      OPINION: Africa must step up to support its innovators

      Opinion: Free market far more advantageous for the sugar sector than the current heavily regulated regime

      Opinion: Free market far more advantageous for the sugar sector than the current heavily regulated regime

      How the cheap food bought by employees is ruining company’s performance

      How the cheap food bought by employees is ruining company’s performance

      LPG regulations lead the way in reshaping consumer behaviour and industry

      LPG regulations lead the way in reshaping consumer behaviour and industry

No Result
View All Result
Kenyan Business Feed
No Result
View All Result
Home KBF Banking

Kenya’s 2019-2020 Budget Analysis By Standard Chartered Bank Of Kenya

by Egiron
July 15, 2019
in Banking
0
267
SHARES
3.2k
VIEWS
Share on FacebookShare on TwitterShare On Whatsapp
Loading...
Chemutai Murgor, Chief Financial Officer, Standard Chartered Bank Of Kenya

The Standard Chartered Bank Of Kenya (SCB) this morning held panel discussions to share their analysis of the 2019-2020 budget, with clients.

The Kenya 2019-2020 budget was presented yesterday to parliament by the Cabinet Secretary for National Treasury Henry Rotich.

The chief financial officer (CFO) for SCB Ms. Chemutai Murgor started the meeting by welcoming the guests and outlining the meeting’s agenda.

Below are the take aways:

Eva Otieno, SCB’s Head of Africa Strategy Research had the following to say.

In 2018 we’ve seen the 6.3% economic growth. We attribute that to the the increased reliance on the agricultural sector.

Looking at the budget, we see continued spending. In an environment where the private sector is struggling, we see a disconnect between the projected revenue to be raised and the ability of the main tax paying contributors to meet it.

The Kenyan shilling has been so stable due to the current account deficit narrowing. There is a material slowdown in imports.

When we look at the FX reserves, we are looking at over 10 billion due to the Eurobond proceeds that have come through.

Michael Mburugu

Michael Mburugu, Partner at PKF Kenya, (also the Director of Taxation services, said the following:

Taxation of the digital economy is targeting main non-residents who would benefit from such revenues.

The govt. has reintroduced the turnover tax at 5%, replacing the presumptive tax.

In may cases the farmers are not remitting taxes. To expand the tax base the govt has lumped informal service providers together by introducing a withholding tax.

On the VAT side, withholding VAT has reduced from 6% to 2%.

Exemption of VAT for people who will be recycling plastic materials.

Reverse VAT has been reinstated for people who are not registered for tax purposes.

VAT has been introduced on ecommerce.

With the new VAT formula it is possible, especially for exporters, that they may get back 100% of their VAT back.

10% of all bets placed will go to the govt in taxes in addition the taxes to betting companies.

To encourage locally assembled vehicles, there is a higher tax on imported vehicles.

Taxes on cigarettes, wine and spirits are up by approximately 15%.

If you are a senior officer/executive and you want to go on holiday, you may find that you are prohibited to leave the country if your company is not tax compliant.

Anytime you are in a dispute with the Commissioner, if the case takes over 60 days, then the assumption is that you have won the case.

For wheat and grain, duty has come form 35% to 10%.

Duty on rice is down form 75% to 35% for food security reasons.

Loading...
Salim Aliban

Salim Aliban, from PKF Kenya has this to say:

Boda bodas and Tuk tuks are now required to get insurance for themselves and pedestrians.

The Capital Markets Authority has been given more authority to deal with non-complaint companies.

Pensioners will now get part of the reserves of their scheme when the exit it.

Pensioner under umbrella medical schemes will now have additional access to coverage.

Due to the emphasis of Buy Kenya, build Kenya, all government vehicles will be procured from plants in Kenya.

Single use plastic good will be banned from conservation areas and beaches.

Panel Discussions

The panel was made up of Tanveer Nandhra, Head of Finacial Markets, SCB (moderator), Ndegwa Mucheru, Head of Tax, Africa, SCB, Michael Mburugu, PFK Kenya, and Eva Otieno, Africa Strategy Research, SCB.

The government is listening to what industry has been asking for to drive the economy and making changes, e.g. issuing pin, locally assembled vehicles.

We’ve seen the rates of fiscal consolidation deteriorate.

We need to consider the issue of corruption as it has a real effect on our economy.

The allocation of the 47 Billion to healthcare is a step in the right direction.

We have an initiative called #Futuremakers, to empower young people in areas of employability and entrepreneurship. It is aligned with the govt’s efforts to engage youth and create opportunities for personal economic growth . – Susan Njoroge, Head of Sustainability, SCB

The budget formulation used to be a very opaque process. Now however the budget estimates are published in April and the public can comment. That is the spirit of the constitution .

Whereas the framework has been put in place to tax the digital economy, it needs to be fine tuned. How do you tax, especially when the payments are being remitted outside of the country? Who has the taxing rights, Kenya or the hosting country.

For local industries that have experienced punitive tax raises (e.g. tax on paper up from 10%-25%), short term effect may be painful, but in the long term, as other local support industries are established, the cost of doing business may reduce.

‘The government may have missed the opportunity to provide economic stimulus for the next 3 years to get the economy back on its feet. If local businesses had been given an amnesty this may have resulted in more SMEs getting compliant’, said Michael Mburugu, PKF Kenya

The panel discussions ended after one and half hours with Eva Otieno having to day this, ‘Since 20% of the allocations went towards the big 4, it is incumbent on the public to hold our officials to greater account in the use of these funds’.


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 editor@kenyanbusinessfeed.com
Loading...
Loading...

Popular News

  • Jumia closes shop in Tanzania days after exiting Cameroon market

    Jumia closes shop in Tanzania days after exiting Cameroon market

    250 shares
    Share 129 Tweet 51
  • Treasury in a move to freeze cash transfer to counties

    175 shares
    Share 71 Tweet 43
  • Visa Recognises Naivas Cashless Payments

    166 shares
    Share 66 Tweet 42
  • CS Munyes Fires Andambi, Appoints Macharia Irungu As New KPC MD

    185 shares
    Share 87 Tweet 41
  • How Stock Markets Work

    164 shares
    Share 66 Tweet 41
  • Trending
  • Comments
  • Latest
First look at the prison where El Chapo may live for the rest of his life

First look at the prison where El Chapo may live for the rest of his life

July 17, 2019
Sameer Africa CEO Sacked

Sameer Africa CEO Sacked

August 7, 2019
2000 workers lose jobs in Mombasa as factory closes down

2000 workers lose jobs in Mombasa as factory closes down

September 17, 2019

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

November 20, 2019
President Uhuru okays Shs 73.4 billion for government projects funding

President Uhuru okays Shs 73.4 billion for government projects funding

0

Why growth by GDP does not reflect real growth

0

Millers set for second maize prices talks

0

Kenya exports under Agoa deal grow 25pc

0
President Uhuru okays Shs 73.4 billion for government projects funding

President Uhuru okays Shs 73.4 billion for government projects funding

December 5, 2019
KWAL launches new alcoholic brand in the Kenyan market

KWAL launches new alcoholic brand in the Kenyan market

December 5, 2019
Little Changes At Alphabet, The Owner Of Google, As CEO Larry Page Steps Down

Little Changes At Alphabet, The Owner Of Google, As CEO Larry Page Steps Down

December 5, 2019
Kenyan Firm awarded Most Innovative Community Developer 

Kenyan Firm awarded Most Innovative Community Developer 

December 5, 2019


© 2019 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • News
  • Markets
  • Real Estate
  • Tech
  • World Business
  • KBF
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion