Business Snapshot: Key Highlights
Good morning! Let’s dive into today's top stories from Business Daily. || October 1, 2024
How workers’ take-home pay will shrink on SHIF deductions
Thousands of workers will this month breach the legal requirement that demands they take home at least a third of their salary following a deduction of 2.75 percent of gross pay towards the universal health coverage (UHC) programme. — Read More
Omtatah seeks to block new national health cover plan
Busia Senator Okiya Omtatah and two others have moved to court seeking to block the implementation of the Social Health Insurance Fund (SHIF) ahead of today’s launch. — Read More
Shilling holds steady despite globally weakening dollar
The shilling hit a ceiling of Sh129.19 to the dollar as it traded in a narrow range in September, defying expectations that it would gain against a globally weakening dollar after the US interest rate cut two weeks ago. — Read More
Joho rejects push to revoke Simba Cement’s Kilifi mining permit
The Ministry of Mining has dismissed a petition to revoke Simba Cement's Kilifi license, stating it legally issued the company a permit to mine limestone over a 24.931 square km area. — Read More
Revealed: Half of firms fail to pay corporate tax
Nearly half of active companies that filed annual returns in the year to June did not pay taxes on corporate earnings, pointing to deepening losses and elevated prevalence of tax avoidance schemes. — Read More
Why your child must take wealth management class
Introducing children to wealth management at an early age is crucial for fostering financial literacy and responsibility. Learning how to manage money, invest wisely, and understand financial risks can empower them to make sound financial decisions in adulthood, helping them avoid common pitfalls like debt and poor investment choices. — Read More
"Addressing the policy hurdles facing agricultural SMEs is essential for unlocking their potential to drive economic growth, enhance food security, and create jobs, particularly in rural areas." — Read More
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