Category: Financial Advisory

  • Selu to invest Sh13bn in Galana-Kulalu project

    Selu to invest Sh13bn in Galana-Kulalu project

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    by

    Manuell

    After a successful pilot phase last year, Selu Limited, one of the companies funding the government-backed Galana-Kulalu irrigation project, announced plans to inject at least $80 million (Sh13 billion at current exchange rates) in the next three years. The company reports that its trial produced unprecedented yields of maize—up to 35,90 kg bags per acre—the…

  • US firms enjoy billions in savings from Ruto tax cut

    US firms enjoy billions in savings from Ruto tax cut

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    by

    james

    Two American businesses operating in Kenya have stated that they have benefited greatly from lower taxes for foreign companies’ local branches last year, thanks to a decision made by President William Ruto’s administration. Ormat Technologies Inc, a US company that has power generation operations in Kenya, disclosed a tax benefit of $9.4 million (Sh1.49 billion),…

  • Sasra offers non-deposit taking saccos levy relief

    Sasra offers non-deposit taking saccos levy relief

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    by

    james

    The most recent schedule published by the saccos regulator states that non-withdrawable deposit taking saccos will pay a discounted annual levy instead of the current 0.175 percent paid by deposit-takers. The levy is computed as a percentage of the money that an organization has on hand. The annual levy for non-deposit taking entities under the…

  • Stock market today: Wall Street holds steady as yields rise following strong jobs data

    Stock market today: Wall Street holds steady as yields rise following strong jobs data

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    by

    Manuell

    NEW YORK — After a report indicated that the economy is still being driven by a robust job market, albeit one that may be a little too strong, Wall Street is remaining mostly stable on Friday. Although the S&P 500 started trading with a 0.1% increase, it was still headed for its first losing week…

  • Kenya’s Eurobonds cross Sh1trn mark on weak shilling

    Kenya’s Eurobonds cross Sh1trn mark on weak shilling

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    by

    Manuell

    Kenya’s outstanding sovereign debts, or Eurobonds, will cost the country more than Sh1 trillion to pay off due to the sharp depreciation of the Kenyan shilling since the securities were issued. Kenya’s outstanding Eurobonds at issuance were valued at Sh697.7 billion, but due to the depreciation of the local currency alone, they have since increased…