The Kenya Revenue Authority (KRA) introduced the Electronic Tax Invoice Management System (eTIMS) to ensure that all businesses issue valid tax invoices. The eTIMS platform was launched in 2020 to boost tax compliance by tracking transactions in real time. Under the new e-invoicing system, taxpayers must electronically generate and transmit invoices to KRA. Who Needs to Use eTIMS? Regardless of Value Added Tax (VAT) registration status, all businesses need to comply with eTIMS. This includes individuals and companies earning rental income, those under the Turnover Tax (TOT), and those with annual turnovers below KSh 5 million. What are the Benefits…
Author: Korir Issa
Korir Issa
IK, a Masinde Muliro University grad, tackles social justice through journalism. He analyses news and writes on women's rights, politics, technology, law, and global affairs.
The Royal Nairobi Golf Club (RNGC) emerged victorious in the 99th edition of the Tannahill Shield Tournament, ending their five-year championship drought. The thrilling three-day event culminated on Sunday evening at the RNGC course. Royal Nairobi Golf Club secured the win with a final score of 39 points, narrowly edging out Western Kenya, which finished second with 38 points. Unstoppable on the field, unparalleled in passion – our team etches its name in the annals of history as the reigning champions of 2024! 🏆🌟 #LegendsMade #ChampionsForever 🔥🏌️♂️ #Tannahill2024 #EasterTournament”#KaribuRoyal #99thEditionTannahillShield #TS2024 #TannahillShield pic.twitter.com/RlDnFlfVk5 — ROYAL NAIROBI GOLF CLUB (@RoyalNairobi) April…
NCBA Group reported a strong financial performance for the year ended December 2023, with net profit surging by 55.7% to Sh21.4 billion. The Group attributed the strong performance to revenue growth and a cost slowdown. The Group’s net interest income grew 13% to Sh34.6 billion, offsetting a slight decline in non-funded income. Its operating expenses remained flat at Sh38.2 billion due to a significant reduction in loan loss provisions. The bank declared a final dividend of Sh3 per share, bringing the total payout to Sh4.75 per share (up from Sh4.25). NCBA Group Managing Director John Gachora emphasized the strong return…
Coronation Group, Access Holdings, Safaricom, and M-PESA Africa have formed a new financial alliance. This collaboration aims to expand remittance access across Africa and drive financial inclusion by creating solutions that empower individuals and businesses across the continent. In addition, the initiative supports the African Continental Free Trade Area (AfCFTA) by fostering more intra-African trade. The collaboration will see the convergence of Access Holdings’ robust Pan-African banking infrastructure, spanning 14 African countries, with Coronation Group’s comprehensive array of technology-infused financial services offerings in West Africa, coupled with M-PESA and Safaricom. M-PESA is the continent’s leading mobile money and digital payments…
NCBA Group has secured a $50 million (Sh6.73 billion) loan from French development finance institution Proparco for its sustainability initiatives. This strategic partnership will see a portion of the funds, 60%, directed explicitly towards empowering small and medium-sized enterprises (SMEs). The remaining 40% will be channelled towards businesses that actively contribute to combating climate change risks. “As NCBA, collaborative efforts and strategic partnerships are integral to the value that we deliver to all our stakeholders,” NCBA’s chief executive, John Gachora, said. “I believe that with this partnership, we will deepen our shared goals to foster sustainable economic development and advance…
The wait for a passport is getting significantly shorter for Kenyan travellers, according to the Directorate of Immigration Services. The Directorate says it is implementing measures to improve passport issuance. It says it received two new, modern passport printing machines that will be operational by April 2024 to reduce processing times. In addition, new servers have been installed to handle the demand and ensure system stability. Principal Secretary for Immigration Julius Bitok Thursday said they had received an additional 112,700 passport booklets, including 92,500 50-pager series, to enhance efficiency at passport centres. With these improvements, the government aims to deliver…