Author: David Indeje

The Kenyan Government has said every individual must pay taxes in accordance with their wealth. This is the latest move targeting High Net Worth Individuals (HNWIs) in Kenya. “High net worth persons whose lifestyles are not reflective of the taxes that they pay must be compelled to demonstrate the source of their wealth and to contribute their share of taxes accordingly,” President Uhuru Kenyatta said on Thursday. The President said besides having taken measures to broaden the tax base, the country’s tax base was significantly low, “As a consequence, we have in the recent past taken steps to widen the…

Artcaffé Group, a lifestyle and a social hub restaurant, plans to boost its presence in Kenya as it looks to expand with more outlets in 2019. The only restaurant chain to be awarded the prestigious Superbrand status in East Africa says their focus on high international standards is expected to impact positively on the economy. Sagi Vaknin, Managing Director at Artcaffé said: “We will significantly increase the number of locations in 2019, growing our position as a large employer, taxpayer, and driver of local supply chain growth with the support of Emerging Capital Partners.” READ: Carrefour Kenya Named 2019 Bread…

Mobile banking and tech-savvy youth have become key enablers for supporting financial inclusion in Kenya according to the 2019 FinAccess  Households Survey. “Kenya has maintained its leadership on the financial services access front”, David Ferrand, FSD Kenya adding that “Our challenge is to harness these achievements and build a more inclusive financial system.” According to the report, access to financial services and products has expanded significantly among Kenyans ‘From 26% in 2016 to 82.9% in 2019’ only 11% of adult Kenyans are excluded from formal financial services. Down from 41% in 2006. Further, the report found out that financial health…

Kenyan real estate sector outlook remains sluggish with rental revisions in terms of uptake, rental yields, capital appreciation, and total investor returns given the oversupply of retail and office spaces, according to Cytonn Q1’2019 Real Estate Market Review. “As such, we maintain a neutral outlook for the real estate sector mainly constrained by increased supply in the market and limited access to financing for both developers and off-takers,” it said in a research note released on Monday. The sector softened in Q1’2019, with sectors such as office and retail registering a decline in rental yields by 0.1% points and 0.5%…

Sulwe has skin the color of midnight. She is darker than everyone in her family. She is darker than anyone in her school. Sulwe just wants to be beautiful and bright, like her mother and sister. Then a magical journey in the night sky opens her eyes and changes everything. Kenyan actress Lupita Nyongo has revealed the cover for her debut children’s book Sulwe. A powerful, moving picture book about colorism, self-esteem, and learning that true beauty comes from within. In a post on her Instagram feed on April 1st 2019, Lupita shared the illustration cover of Sulwe that depicts…

French retailer Carrefour plans to grow the number of branches to 9 from 7 in 2019 aiming to deliver quality, value and customer services through a family of conveniently located stores across Nairobi. The expansion is the latest move by Carrefour, whose local franchise is held by Dubai-based conglomerate Majid Al Futtaim to get hold of a growing share of Kenya’s consumer spending. According to Fitch Solutions, an industry-leading provider of credit, debt market, and macro intelligence solutions, and the primary distributor of Fitch Ratings content, “Consumer spending in Kenya is projected to tick up by 5.8% y-o-y in 2019,…