Author: David Indeje

The Lancet Series on small, vulnerable newborns has issued a call for the standardisation of data, technology, and quality prenatal information to address the high rate of newborns born too small or too soon. This rate currently stands at its highest at 20% in Sub-Saharan Africa. Globally, one in every four babies is either ‘born too small’ or ‘born too soon’, accounting for 1.9 million stillbirths and 1.4 million newborn deaths annually. Survivors among these small, vulnerable newborns are susceptible to health problems throughout their lives, affecting human capital, economic productivity, and healthcare costs. The Series, created through an international…

The Kenya Revenue Authority (KRA) has launched a tax amnesty programme as part of the Finance Act, 2023.  This significant initiative aims to promote tax compliance and financial inclusion by offering a waiver on interest and penalties on tax debt up to 31st December 2022. The programme, which will be in effect from 1st September 2023 to 30 June 2024, is designed to help taxpayers achieve tax compliance.  It allows them to voluntarily declare their historical tax liabilities. Once declared, taxpayers can settle the principal tax amount while benefiting from not having to pay the associated penalties and interest. This…

Eliud Kipchoge, the marathon world record holder, claimed his fifth victory in the BMW Berlin Marathon on Sunday. Kipchoge crossed the finish line with a time of 2:02:42 cementing his status as one of the greatest marathon runners of all time. He shared the podium with two athletes who appeared in their marathon debuts: 24-year-old Vincent Kipkemoi (2:03:13) of Kenya and 21-year-old Tadese Takele of Ethiopia (2:03:24). https://youtu.be/hxDn4EEMank Men’s top 10 results Eliud Kipchoge KEN 2:02:42 Vincent Kipkemoi KEN 2:03:13 Tadese Takele ETH 2:03:24 Ronald Korir KEN 2:04:22 Haftu Teklu ETH 2:04:42 Andualem Belay Shiferaw ETH 2:04:44 Amos Kipruto KEN 2:04:49 Philemon Kiplimo KEN…

The Capital Markets Authority (CMA) has given the green light for the issuance of the country’s first-ever Sukuk Bond by Linzi Finco Trust. The Sukuk Bond aims to raise KSh. 3 billion. The funds raised from the bond will be allocated towards the development of 3,069 institutional housing units. The Sukuk offers an internal return of 11.13%. “This financial initiative represents not only a new investment opportunity but also a significant step towards addressing the housing deficit in Kenya,” said CMA’s chief executive officer Wycliffe Shammiah. Sukuk also referred to as Islamic bonds, are financial instruments that adhere to Shari’ah…

The National Social Security Fund (NSSF) in Kenya introduced new contribution rates under the NSSF Act No. 45 of 2013. The maximum contribution payable under the Act by both employers and employees for the first year is KES 2,160, divided into Tier I Contribution of KES 720, and Tier II Contribution of KES 1,440. The contributions are based on a Lower Earnings Limit of KES 6,000 and an Upper Earnings Limit of KES 18,000 in the first year. All employees earning less than KES 18,000 per month will contribute a lower amount. Year Lower Earning Limit Upper Earnings Limit…

London-based buyout firm Actis LLP  is initiating the sale of Java House, a restaurant chain in East Africa. Actis has enlisted Flamingo Capital Partners, an advisory firm with an African focus, to facilitate the sale. Actis aims to sell the entire restaurant chain for an amount yet to be disclosed. Since acquiring the chain from the Dubai-based Abraaj Group in 1999, Actis has owned Java House. Established in Nairobi in 1999, it saw Emerging Capital Partners acquire a 90% majority stake in 2012, while the founder kept a 10% minority stake. The group also owns additional food chains: 360 Degrees…