Author: Muindi

In a precedent-setting judgment, the High Court has ordered Sendy Limited to pay KES 82.2 million ($635,000) in value-added tax (VAT) to the Kenya Revenue Authority (KRA), ruling that the company is not merely a digital intermediary but a principal service provider in its logistics transactions. Justice Helene R. Namisi found that Sendy “exercises a decisive degree of control over the essential elements of the delivery service,” including setting terms, dispatching drivers, and collecting payments in its own name. The Court held that, for VAT purposes, Sendy effectively receives the transport service from third-party drivers and supplies it to the…

Stanbic Bank Kenya’s Chai Loan for tea farmers is a significant stride in enabling financially constrained growers to access immediate and meaningful liquidity.  With up to 80% financing on the value of tea leaf holdings, the facility directly addresses the cash-flow delays that Kenyan farmers have long grappled with between harvest and payment cycles. Bridging the Payment Gap in the Tea Sector For decades, this lag between the delivery of green leaf to factories and the eventual payout has remained one of the biggest frustrations in the tea sector. Farmers may diligently harvest and deliver their crops, but with no…

Meta, through its Irish subsidiary Edge Network Services Ltd, has signed an agreement with Safaricom to deploy a new submarine cable system connecting Oman and Kenya. The initiative aims to boost data capacity, reduce latency, and strengthen internet reliability across East Africa. Strategic Infrastructure for Digital Growth The project is being developed by Edge Network Services, Meta’s global infrastructure arm, and will be fully funded by Meta. Safaricom will act as the landing partner in Kenya, managing local operations and overseeing infrastructure within the country’s territorial waters. “This deal marks a major milestone as we celebrate 25 years,” said Peter…

Access Bank Group is set to acquire the National Bank of Kenya (NBK) for USD 109.6 million (KSh 14.2 billion), according to its half-year financial statements for the period ended 30 June 2025. However, the transaction remains incomplete pending one final regulatory approval. “On 30 May 2025, the Group announced the completion of its acquisition of the entire issued share capital of National Bank of Kenya (‘NBK’) from KCB Group Plc following the receipt of regulatory approvals in Kenya and Nigeria,” Access Bank stated in its filings. “However, these approvals remained conditional as at reporting date. The transaction remains subject…

Kenyans will soon pay more for both domestic and international flights following the enactment of the Air Passenger Service Charge (Amendment) Act, 2025, the first fare adjustment in over a decade. Signed into law by President William Ruto on October 15, the legislation increases ticket levies to support critical state agencies in aviation, tourism, and climate resilience. What Travellers Will Pay Under the revised structure: Domestic flights: KSh 600 (up from KSh 500) — a 20% increase International flights: KSh 6,500 (up from KSh 5,200) — a 25% increase (Equivalent to US$50, up from US$40) The law also empowers the…

The Dar es Salaam Stock Exchange (DSE) has listed Tanzania’s first Exchange Traded Fund (ETF), the Vertex International Securities ETF (VIS-ETF). Vertex International Securities Limited, a firm with roots in East African investment advisory, manages the VIS-ETF. The ETF is designed to provide Tanzanian investors with access to a diversified portfolio of global equities, thereby enhancing portfolio diversification and market liquidity. “This listing is a strong reflection of investor trust and our commitment to broadening access to capital market opportunities,” said Mateka Mgeta, CEO of Vertex International Securities, during the launch ceremony. The ETF raised TZS 6.8 billion, surpassing its…