The State will have powers to seize property and freeze transactions deemed suspicious if Parliament adopts proposed changes to the law aimed at stepping up the war on money laundering.
Amendments to the Proceeds of Crime and Anti-Money Laundering Act will give the Financial Reporting Cent…
Lower import volumes push mitumba prices to new highs
The average price of a tonne of second-hand clothing items imported into the country crossed the Sh100,000 mark for the first time last year on reduced volumes in the wake of safety protocols and guidelines to curb spread of coronavirus.
Traders paid Sh100,527 on average per …
InterCon hotel owners auction movable assets
The owners of InterContinental Hotel, including allies of former President Daniel arap Moi, have put up thousands of movable properties on a fire sale as they prepare to lease out the building or convert it into a mixed-use property.
The hotel has put thousands of goods up for auction incl…
Kenya Power seeks more debt collectors
Kenya Power is seeking to hire four debt collectors this year in the latest bid to tame defaulters holding billions of shillings.
The utility last week published the tender inviting interested firms to apply for the deals that will last for two years.
“The company commissio…
How social media is powering Africa’s small businesses
Social media platforms are accelerating economic growth and opportunity across the continent, a new study by Genesis Analytics has shown.
The independent study aimed at exploring the impact of the digital economy on small- and medium-sized businesses (SMBs) was conducted in eight African c…
Salaried jobs drop for first time in 20 years
The number of formal jobs in Kenya last year contracted for the first time in two decades, reflecting the struggles of the economy that also shrank for the first time since 1992 on the back of coronavirus-induced shutdowns and restrictions.
The annual economic data released by the Kenya Na…
Centum revises tax on its properties to Sh4bn
Centum Investment Company Plc has reviewed taxes payable on its investment properties to Sh4 billion, raising the figure six times from the previous Sh669.9 million.
The company says in its latest annual report that it used to assess tax payable on revaluation gains in its re…
Kenya Airways staff to remain on pay cut
Employees of the national carrier, Kenya Airways (KQ) will remain on pay cuts at least in the short-term as part of cost cutting measures aimed at preserving cash amid unrelenting Covid-19 woes.
The airline in a response to the Business Daily queries Tuesday said employee ful…
Varsity funds pegged on gender, course completion rate
Public universities will be allocated money based on course completion rates, community service and gender considerations as the government moves to implement the performance-based funding model.
The Universities Funding Board (UFB) has set key performance indicators for the institutions o…
Kenyans face expensive justice as court fees rise
Kenyans are starting this month paying more than double for some court services after the Judiciary revised its fees, raising the cost of litigation.
The new fees schedule published by Chief Justice Martha Koome, which took effect on September 1, shows that a number of costs have been intr…