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Are Economies Ready For Digital Taxes

Kenya Reinstates 6% Digital Service Tax in An Aim To Boost Digital Economy Revenue

The Kenyan government has revived the 6% Digital Service Tax (DST). This tax, initially suspended, is now back, targeting profits from various online services provided to Kenyan consumers. The decision comes amid efforts by the government to broaden its tax base and capture revenue from digital companies benefiting from local markets without a physical presence….

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Communication Authority Of Kenya

Kenya’s Communications Authority to Revoke Over 200 Licenses in Compliance Crackdown

The Communications Authority of Kenya (CA) has announced plans to revoke over 200 licenses issued to various telecommunication and media firms. This comes as the regulator intensifies efforts to enforce compliance with licensing standards across the industry. The licenses in question span various sectors, including broadcast, internet service provision, and telecommunications. A majority of the…

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IMF Forecasts Economic Slowdown: Kenya’s Growth Expected to Dip to 5% by 2025

Kenya’s economy is set for a slowdown, with growth projected to ease to 5.0% in 2024 and 2025, according to the International Monetary Fund (IMF). This adjustment comes as global economic pressures persist and Kenya grapples with a volatile macroeconomic landscape, including high inflation, currency depreciation, and debt obligations. Here’s what the IMF’s prediction could…

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African Economy Index

Africa Calls for $120 Billion Development Fund: A Push for Fair Financial Reforms

October 22, 2024 – In a bold move, African leaders and economists are rallying for a $120 billion development fund aimed at leveling the financial playing field in a system where low-income countries often bear disproportionate debt burdens. With mounting challenges from debt servicing to climate crisis responses, Africa’s leaders argue the current global financial…

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Kcb To Sell Nbk

Kenyan Banks Pledge KSh 450 Billion to Empower MSMEs

Kenya’s banking sector has announced an unprecedented financial commitment of KSh 450 billion to support Micro, Small, and Medium Enterprises (MSMEs). This move reflects the sector’s dedication to bolstering the backbone of the economy—MSMEs—which account for over 80% of Kenya’s employment. With this significant capital injection, the banks aim to uplift small businesses, empowering them…

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Im Bank

Strategic Investment: East Africa Growth Increases Stake in I&M Bank

NAIROBI, Kenya – East Africa Growth (EAG), a prominent private equity firm, has announced its decision to acquire an additional 5% stake in I&M Bank, one of Kenya’s leading financial institutions. This move signals EAG’s commitment to strengthening its presence in the East African banking sector and underscores the growth potential of the region’s financial…

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Trending News

Nairobi Securities Exchange Adds KSh 420 Billion in 2024 as Local Investor Confidence Climbs
Kenya Reinstates 6% Digital Service Tax in An Aim To Boost Digital Economy Revenue
Nairobi Securities Exchange Adds KSh 420 Billion in 2024 as Local Investor Confidence Climbs
IMF Forecasts Economic Slowdown: Kenya’s Growth Expected to Dip to 5% by 2025
Kenyan Banks Pledge KSh 450 Billion to Empower MSMEs