The Kenyan shilling has made significant gains against the US dollar this year, appreciating by 17.8% from January to June. This growth reflects a combination of favorable market conditions, increased foreign exchange inflows, and investor confidence. Weekly Performance and Key Drivers In the past week, the shilling strengthened by 1.06%, closing at 128.66 from the…
Value Added Tax (VAT) is a form of indirect tax levied on the consumption of goods and services. It’s a major source of revenue for governments around the world, including Kenya. In this article, we’ll delve into the intricacies of VAT, covering its purpose, how it operates, and its impact on businesses and consumers. Purpose…
How the Integrated Customs Management System Works Customs agencies worldwide face the dual challenge of facilitating trade while ensuring regulatory compliance. To address these challenges, the Kenya Revenue Authority (KRA) has implemented the Integrated Customs Management System (iCMS), a streamlined and efficient platform designed to integrate various customs processes into a cohesive system. This article…
Next week, data experts from all over Africa will meet in Nairobi to talk about important issues and work together to improve data protection systems for the continent. This gathering, known as the 9th Network Of Africa Data Protection Authorities conference, aims to make more people aware of the importance of data protection and encourage…
At the latest Government Securities Auction, Treasury Bills saw a tiny drop in the interest rates offered by the Central Bank of Kenya (CBK). This is the first time we’ve seen this happen in 24 months! CBK got bids totaling KSh 28.5 billion at the Weekly T-Bills auction. That’s against KSh 24 billion offered at…
Curious about the top money market funds in Kenya for December 2023? Here they are! First off, the average daily rate for money market funds in December went up to 12.51% per year, compared to November’s 12.06%. This spike is due to the rising interest rates in government securities, which are a big deal for…
Kenya has secured the honor of hosting the 2024 Transform Africa Summit (TAS), organized by the Smart Africa Alliance. Scheduled from August 28-30, this summit is set to become a key event in Africa’s technology landscape. The Transform Africa Summit is an annual gathering convened by the Smart Africa Alliance, bringing together over 5,000 delegates….
