Author: Korir Issa

Kenya received 451,441 international visitors in Q3 2023, a 42.3% increase from 317,196 visitors in Q2 2023, according to data from Jomo Kenyatta International Airport (JKIA) and Moi International Airport (MIA).  The month of October witnessed 131,756 international arrivals, up from 113,981 arrivals in October 2022.  On a year-on-year basis, the total arrivals in the first nine months of 2023 rose by 28.7% to 1,238,330, compared to 962,157 in the same period in 2022.

Longhorn Publishers reported a net loss of Ksh571.33 million for the year ended June 2023, the worst since it was listed on the Nairobi Securities Exchange in May 2012.  The loss was nearly seven times higher than the restated loss of Ksh84.5 million in 2022, which was revised from a net profit of Ksh39.9 million. According to the publisher, “Various macroeconomic headwinds over the past year have had a significant impact on our business. We have seen rising inflation, an increase in interest rates, currency depreciation, and a general economic slowdown across our markets which has resulted in a drop…

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…