Author: David Indeje

Kenya’s retail inflation dropped marginally to 4.2 percent in September, government data showed on Wednesday compared to 4.36 percent the previous month. Kenya National Bureau of Statistics (KNBS) shows that the September Consumer Price Index (CPI), a measure that examines the weighted average of prices of a basket of consumer goods and services, stood at 108.57. “The month-on-month food and non-alcoholic drinks index rose by 0.15 percent, while the year-on-year food inflation rose by 5.18 percent mainly due to an increase in the price of peas, oranges, Irish potatoes, and cabbages by 13.69, 3.82, 2.74, and 1.72 percent respectively, among…

Allianz, Germans’ leading insurers, and asset managers on Tuesday said it has entered into a strategic partnership to acquire a majority stake in East Africa’s largest insurance group Jubilee Holdings. In the proposed partnership structure, Allianz will acquire controlling stakes in Kenya, Tanzania, and Uganda as well as the short-term insurance segment in Burundi and Mauritius. businesses for a total consideration of Ksh 10.8 billion (EUR 84 million, USD 100 million) while JHL will retain a significant minority stake.  JHL’s subsidiary in Kenya, Jubilee General Insurance Limited is the future joint venture company that will also acquire the business of…

President Uhuru Kenyatta has implored the National Treasury to extend tax reliefs, which took effect in April to Kenyans hit by the coronavirus pandemic. Speaking during the National COVID-19 Conference Monday, Kenyatta directed the National Treasury to consider retaining the VAT at 14 percent until the first of July 2021. Treasury has also been asked to retain the income tax rate, Pay-As-You-Earn, at 25 percent until the first of January 2021 and retain the corporate tax at 25 percent until January 2021. “To protect low-income earners, I am asking the National Treasury to maintain the 100 percent tax relief of…

The African Risk Capacity Limited (ARC Ltd), a commercial subsidiary of African Risk Capacity Group (ARC Group), has signed a partnership agreement with Pula to help provide agriculture index insurance products to the continents’ farmers.  African farmers are exposed to a range of climate risks including drought, excessive rainfall, pests and diseases, and several other perils that negatively affect their yields. Pula specialises in meso and micro parametric insurance in agriculture and provides the levers to connect participating farmers with regional insurance companies and global reinsurance firms to underwrite such risks. The partnership will run for an initial period of…

High Court judge John Onyiego granted bail to Sirisia MP John Waluke and his co-convict Grace Wakhungu in the Ksh 297million maize fraud case. Waluke was released on KSh10 million cash bail  and Wakhungu was granted KSh20 million bail Justice Onyiengo said the appeal by the duo who have been in prison for three months could likely be successful on the reason that the sentences imposed on them are illegal. Waluke is serving a 37-year sentence at Kamiti Maximum Security Prison while Wakhungu, 80, currently at the Lang’ata Women Prison is serving a 39-year sentence after failing to raise a…

The Kenya National Highways Authority (KENHA) says a section of Waiyaki Way from Goodman Tower to Sanlam Tower (500 metres) will be closed completely until April 2021. This is due to the construction of the Nairobi Expressway. KeNHA director-general Peter Mundinia said in a statement on Saturday that the disruption will take place between September 26 and April 1, 2021. All vehicles from Nairobi Central Business District to James Gichuru Road will have to turn left into the service road before the St Mark’s Church footbridge and rejoin Waiyaki Way after Mvuli Road. “Pedestrians are advised to use designated pedestrian…