Author: Khusoko

Fitch Ratings has assigned Kenya’s upcoming US dollar denominated senior unsecured notes an expected rating of ‘B+. “The expected rating is in line with Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’, which has a Stable Outlook,” said Fitch. READ:  Kenya Begins Roadshow for 12-, 31-year Dual-tranche Eurobond In April, Fitch affirmed Kenya’s Long-Term Foreign- and Local-Currency IDRs at ‘B+’ with a Stable Outlook. A credit rating is used by sovereign wealth funds, pension funds, and other investors to gauge the creditworthiness of Kenya thus having a big impact on the country’s borrowing costs. Fitch’s credit ratings do not…

Nyali Capital, a non-deposit taking microfinance, has been admitted to the Nairobi Securities Exchange (NSE) premium incubation and acceleration program, Ibuka. “The admission of Nyali Capital Limited onto the Ibuka program is a testament of the company’s growth prospects and solid strategy as companies on the program have undergone a rigorous vetting and evaluation process to determine growth and expansion prospects,” said Geoffrey Odundo, NSE chief executive. https://twitter.com/Nyalicapital/status/1126806219392417793 Wanjiku Wambugu, chief executive Nyali Capital acknowledged that the Ibuka program is a game changer product in Kenya’s capital markets. “I would like to thank the NSE for taking this great initiative…

Century Microfinance Bank has received $1 million (Ksh.100 million) loan from Micro Enterprise Support Program Trust (MESPT) to increase its capital base. The capital injection will be used to enhance productivity for farmers and build capacity for micro, small and medium-size enterprises (MSMEs). “This partnership will go a long way in helping us unlock the vast potential that lies in the businesses and farmers within the agricultural sector using the value chain financing approach. Through our program, Century Microfinance is giving farmers grow their businesses, get better prices for their produces and get rid of brokers who have been exploiting…

Former IPOA chairman Macharia Njeru, a Senior Advocate of the High Court of Kenya has been elected Law Society of Kenya’s (LSK) male representative to the Judicial Service Commission (JSC). In hotly contested elections, he defeated Professor Tom Ojienda who had a quest to retain the seat. Macharia emerged with 2,738 votes and Prof. Tom Ojienda came in second with 2,545 votes. Charles Mong’are Ongoto  got 123 votes. LSK through its Twitter feed congratulated Macharia and said they look forward to his contribution. “We celebrate you and look forward to your contribution. Congratulations.” In his acceptance, Macharia said, “I accept…

Rwandan e-commerce start-up Kasha, which sells healthcare products confidentially and discretely to women, has launched in Kenya. Kasha users access reproductive health and personal hygiene products via the platform, which are delivered to them discretely. “E-commerce is thriving in East Africa, with over 21 million people accessing mobile financial services hence making it easier for consumers to shop online. However, women, who directly make or influence 80% of consumer purchases remain highly underserved in their access to high quality and genuine products’ said Joanna Bichsel, Co-founder and CEO of Kasha. Kasha is tapping into this vast opportunity with its diverse…

The Kenya Revenue Authority (KRA) has put on notice persons engaged trading online. The tax collector has said online businesses are required to file returns on all their transactions unless income from such trade is explicitly exempt in the law. “KRA would, therefore, like to remind the taxpayers that the self-assessment regime requires them to file and pay their taxes which may include VAT, Excise Duty, Withholding Tax, PAYE, Corporate taxes and any other tax obligation required under the business,’ reads a KRA statement. https://twitter.com/bankelele/status/1126404443698814976 RELATED: Why it is important to be tax compliant Types of Direct and Indirect Taxes…