women entrepreneurs in Kenya to benefit from KES10 billion kitty

Absa Bank Kenya PLC has today announced a KES10 billion fund to advance credit to women-owned small and medium enterprises over the next five years as part of the new customer value propositions under the Absa brand. The women fund is part of the bank’s commitment towards advancing diversity and inclusion by empowering women with financial resources and capacity building to grow their businesses. The money will be availed to women entrepreneurs through the existing banking products including unsecured and secured loans, trade finance, asset finance, property finance and working…

Nairobi Jubilee MCAs comes to Sonkos Aid

Jubilee MCAs in Nairobi have resolved to rally behind Govenor Mike Sonko who is battling an impeachment motion tabled last week. The MCAs,both elected and nominated held a meeting on Sunday afternoon in Nairobi, where they made a decision to unanimously oppose the motion tabled by Makongeni MCA Peter Imwatok . Imwatok wants Sonko out over corruption,incompetence and inability to put order at City Hall. But the Jubilee MCAs, according to Umoja one mca Mark Mugambi ,claim that the issues are already before court and that it should be left…

Rice importers charged with Ksh1.5 billion Tax Evasion

Two businessmen of Pakistani Nationality were today charged before Mombasa Chief Magistrate Ms Edna Nyaloti for evading tax worth Ksh1.5 billion. The traders, Rahim Qasim and Rameez Gulzar Ali alongside their firm Jhulay Lal Commodities limited were found to have been importing rice into the country while deliberately failing to pay Income Tax. According to investigations, it was established that for the period covering January 2015 and December 2018, the suspects imported rice worth Ksh1.68 Billion. They sold the rice and banked the proceeds in their various companies’ accounts. The…