Author: Korir Issa

The Kenya Revenue Authority (KRA) has announced that all businesses, including those not registered for VAT, must use the eTIMS platform to generate and transmit their invoices to KRA electronically.  This is based on the amended Finance Act 2023, which sets the compliance deadline as September 1, 2023.  From January 1, 2024, any business expenditure without a valid electronic tax invoice will not be deductible for income tax purposes. KRA has given businesses a grace period until March 31, 2024, to register on eTIMS and avoid penalties. Non-VAT-registered taxpayers will not be penalized if they join the platform during this…

Airtel Money Kenya has launched the ‘Rudishiwa Transaction Fee Campaign’, which refunds customers their withdrawal fees as Airtime. Customers who withdraw any amount from Ksh 50 to Ksh 250,000 per day from an Airtel Money agent will get their fees back as Airtime. They can use the airtime for calls, data bundles, or SMS. For instance, a customer who withdraws Ksh 1,000 pays a Ksh 25 fee. With the Rudishiwa Campaign, they will receive KSh 25 as airtime. In October, Airtel Money revised its transfer and withdrawal transaction charges for customers transacting large amounts on the mobile money platform. Airtel…

Ethiopian Airlines Group, Africa’s largest carrier, obtained a $450 million loan from Citigroup Inc. to buy five new Boeing Co. planes. The loan will fund the purchase of three 737 Max aircraft and two 777 freighters, which will be delivered in December and increase the airline’s fleet to 150 planes, the company said in a statement on Tuesday. The loan is part of the airline’s plan to order about 40 planes from Airbus SE and Boeing and nearly double its fleet to over 270 planes in 12 years. “Fleet expansion being one of our strategic growth pillars, we will continue…

African digital music platform Mdundo and Safaricom have partnered to launch a subscription service that allows Kenyans to access DJ mixes for Ksh 5 per day.  The service aims to increase the earnings of artists and improve the user experience. Only Safaricom customers can use the service. They need to register, and then they can download unlimited music and enjoy fresh DJ mixes every day. The partnership supports artists in their quest for sustainable music careers by providing a steady income. This enables them to focus on creating more music and developing their skills. “By introducing our subscription plan with…

Absa Bank Kenya has announced a new interest rate of 10% per annum on its Absa Digital Savings account, up from the previous 9% per annum. The new rate is effective from December 12, 2023, and will last until March 2024. The bank said the move is part of its efforts to empower its customers to save more and earn higher returns on their deposits. The Absa Digital Savings account is accessible to both Kenyans and the diaspora, who can open an account online via the app or website at any time. The initiative is also in line with the…

Kenya will be a visa-free country for all visitors starting January 2024. This means that anyone from any country will no longer need to apply for a visa to visit Kenya. According to President William Ruto, this decision comes as part of Kenya’s commitment to globalization and opening its borders to stimulate socio-economic development.  President Ruto emphasized that Kenyans have always embraced globalization and are not afraid of the world beyond their borders.  “It is with great pleasure, as president of this extraordinary country, to make a historic announcement of the decision of the Government of Kenya. Beginning January 2024,…