Author: David Indeje

In a bid to expedite the distribution and collection of Huduma Namba cards, the Kenyan government will launch an Integrated Voice Response System (IVRS) for its citizens. According to the Government Spokesperson, the rollout of the Huduma Namba cards has continued in all the counties uninterrupted.  Out of the 5.3 million cards produced, 3 million have been distributed. “This is a concern because these cards belong to us. Kenyans receive messages notifying us about the readiness of our cards to be collected but many times we do not respond to the notifications,” Government spokesperson Cyrus Oguna said. “To track the…

PricewaterhouseCoopers LLP is investing $12 billion across its global business over the next five years to support audit quality.  “The approach to building trust is designed to meet rising expectations of transparency and stakeholder engagement. It combines expertise in audit, tax, and compliance activity with an expansion of specialist capabilities including cybersecurity, data privacy, ESG and AI,” the group said in an emailed statement.  As a result, it aims to create over 100,000 new jobs. As well as continuing to develop the skills of partners and employees. At present, the firm employs about 284,000 people globally. “We will continue to…

Kenyan retailers will now be required to pay suppliers interest on delayed payments in new rules published by the Competition Authority of Kenya (CAK). The new rules are contained in the Retail Trade Code of Practice. “A retailer shall pay interest for delayed payments. The interest rate payable shall be agreed by the retailer and supplier in their Joint Business Plan or Supplier Agreement.” “A retailer shall pay any undisputed amount in the Statement of Account after the clarifications, in accordance to the terms stipulated in the Supply Agreement or Joint Business Plan as issues of any disputed amounts are…

The Ethiopian Government on Monday invited bids for a 40 per cent stake in State-owned carrier Ethio Telecom to private investors through a tender process. Through a statement issued by the ministry of finance, Ethiopia is now ready to release an Expression of Interest for the sale of 40 per cent of shares in the state-owned telecommunications company. “The government want(s) State-owned enterprises to be competitive and productive,” Zinabu Yirga, Deputy Director of Public Enterprises Holding and Administration Agency said during a press conference. Interested parties have 30 days to respond with an expression of interest in the company. The…

Petrol price in Kenya was hiked by KSh 0.77 per litre in the latest fuel prices review on Monday. The Energy and Petroleum Regulatory Authority (EPRA) said Kerosene and diesel prices remain unchanged. The changes take effect from midnight of 15th June 2021 to 14th July 2021 inclusive of the 8 per cent VAT in line with the provisions of the Finance Act 2018, the Tax Laws Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020. With the change, super petrol will now retail at Sh127.14 in Nairobi, Sh124.72…

TransCentury PLC  has received its shareholder’s approval to increase the share capital of the Company from KSh 600 Million into one billion two hundred million (1,200,000,000) ordinary shares of KSh 0.50 each. This will be through the creation of an additional two billion ordinary shares of a par value of KSh 0.50 each. The shareholders gave the approval in its Annual General Meeting held on 10th June 2021. The proposed rights issue will be on the basis of 5 new shares for every one ordinary share held, subject to provisions of the Company Act 2015, the firm’s Articles of Association…