Investments

NAIROBI, Kenya, Mar 28 – Commissions earned by Bolt drivers will henceforth attract 16 percent value added taxes (VATs) after the passage of the 2023 Electronic, Internet and Digital Marketplace Supply Regulations. Over the past 15 months, Bolt has absorbed the VAT obligation on behalf of drivers, cushioning their earnings. The application follows a guidance…

NAIROBI, Kenya, Mar 27 – DIB Bank Kenya (DIBBK), a subsidiary of Dubai Islamic Bank PJSC, has reported a net profit of Sh103.4 million for the year ending December 31, 2024, a turnaround from a Sh256 million loss in 2023. The bank attributed this growth to increasing customer confidence in Shariah-compliant banking and a steady…

NAIROBI, Kenya, Mar 26 – Liberty Kenya Holdings has announced a 108.5 percent rise in profit after tax, reaching Sh1.402 billion, up from Sh672 million in 2023 for the financial year ending December 31, 2024. The company attributes the growth to strong investment gains, increased insurance earnings, improved claims experience, and disciplined cost management. Likewise,…

NAIROBI, Kenya Mar 25 – The Central Bank of Kenya (CBK) has warned commercial banks against failing to lower interest rates in line with monetary policy adjustments under the Risk-Based Credit Pricing Model (RBCPM). Appearing before the National Assembly Finance Committee, CBK Governor Kamau Thugge said the regulator has launched onsite inspections to ensure compliance…

NAIROBI, Kenya, Mar 24 – The High Court in Nairobi has upheld the governance of The Kenya Hospital Association (KHA), the entity that owns and operates The Nairobi Hospital, putting on hold a petition that sought to challenge the validity of its board elections held on December 4, 2024. Justice Peter Mulwa ruled in favor…

NAIROBI, Kenya, Mar 22 – Global Water Center (GWC) has rolled out a new project to improve access to safely managed water across East Africa, backed by $1.1 million (Sh142.5 million) in grants from the Grundfos Foundation and The Coca-Cola Foundation. The initiative, covering Kenya, Tanzania, Ethiopia, and Uganda, aims to address a critical shortage…

MAR 22 – Every Uber driver in the UK will be eligible for 20 hours of free childcare under a new scheme intended to get more women driving taxis. They will be able to use the allowance through a nannying and babysitting app for the rest of 2025. “We really, really would like to attract…

MOSCOW, March 21 (Xinhua) — The Russian central bank announced Friday that it has decided to keep its key interest rate unchanged at 21 percent per annum. “Current inflationary pressures have decreased but remain high, especially underlying ones,” the bank said. The bank added that it would consider raising the key rate if disinflation dynamics…

KAMPALA, March 20 (Xinhua) — Uganda Airlines, the national carrier of Uganda, has secured a direct route to London, Britain, in an expansion move to boost the East African country’s trade and tourism opportunities. Uganda Airlines said in a statement issued here Thursday that starting May 18, it will operate four weekly direct flights between…