Weekly Business Snapshot: Key Highlights
Good morning! Let’s dive into today's top stories from Business Daily. || Sep 12th, 2024
KRA spies uncover Sh79bn in hunt for rich tax cheats
Kenya Revenue Authority (KRA)’s spies have flagged 511 companies and individuals for suspected tax evasion and fraud worth Sh79.3 billion based on intelligence received from bank, mobile money transactions and assets registrations. — Read More
1.5m NSE accounts inactive as IPO drought bites
About 97.5 percent or 1.5 million accounts used for the trading of securities including shares at the Nairobi Securities Exchange (NSE) are inactive, revealing the apathy among retail investors who entered the market during the 2000s initial public offering (IPO) boom. Only 38,594 out of 1.56 million share accounts traded last year, representing 2.48%, according to CDSC data. — Read More
History as Tana River County loses tender functions on repeat breaches
Tana River County has been stripped of its functions of procuring services and products by the Public Procurement Regulatory Authority (PPRA), becoming the first devolved unit to suffer the fate even as the watchdog intensifies a purge against shady tender deals. — Read More
Kenya imports from China rebound to Sh258bn on SGR orders
The value of goods ordered from China into Kenya rebounded in the six months that ended June 2024 to grow at the fastest pace in three years, official data shows, partly reflecting higher orders of machinery and transportation equipment, including railway locomotives. — Read More
Value of Nairobi building approvals up 20pc
About 97.5 percent or 1.5 million accounts used for the trading of securities including shares at the Nairobi Securities Exchange (NSE) are inactive, revealing the apathy among retail investors who entered the market during the 2000s initial public offering (IPO) boom. Only 38,594 out of 1.56 million share accounts traded last year, representing 2.48%, according to CDSC data. — Read More
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Solo dating gains traction in search for quality time
Solo dating, a growing trend among urban professionals, is becoming a popular way to indulge in self-care. The experience allows individuals to enjoy their own company, focusing on personal reflection and quality time. Whether it's dining out, attending a movie, or taking a weekend getaway, solo dating emphasizes the importance of making time for oneself in the midst of busy lives. — Read More
Liquid Intelligent upgrades Mombasa-Busia fibre links
Technology firm, Liquid Intelligent Technologies, has upgraded its 1,300km fibre optic route connecting Mombasa on the Kenyan coast to Busia on the Ugandan border, targeting bigger efficiency and reliable links. — Read More
Defaults to NSSF, NHIF by State firms triple to Sh716m
State corporations, government-owned enterprises, and semi-autonomous agencies' unremitted deductions to the NSSF and NHIF more than tripled to Sh716 million in the fiscal year ended June from Sh215 million a year earlier. The increase in unpaid deductions to NSSF and NHIF highlights the struggles of public sector workers and the funding shortfall in these state-backed institutions. — Read More
Corporate foundations can be key drivers of social change, business
"Corporate foundations have the unique ability to drive social change by leveraging business resources and networks to create long-term, sustainable impact." — Read More
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