Cytonn awarded Most Innovative Community Developer 

Cytonn Real Estate the real estate development arm of Cytonn Investments has been recognized by the International Finance Magazine as the Most Innovative Community Developer (Mixed Use) in Kenya during the International Finance Awards. “The entire award process is strictly supervised by expert panelists comprising of key subject matter experts taking extensive care in providing true in-depth analysis and review based on performance,” said a representative from International Finance. The Most Innovative Community Developer Award is given to companies that demonstrate excellence in the residential and commercial property space in…

EkaBet Boosted Odds Changing Betting Industry

What are boosted odds? ,Majority of punters always use boosted or enhanced odd whenever they are plotting to stake the bet. Miss ,Sharon Kibuthu,the Operations Manager at ekaBet in an interview says that,an Odds Boost always moves the odds in the favor of the bettor and thus increasing the high chances of winning. She says that there are times where the odds are boosted enough that the football enthusiastic will actually forgo their entire activity for a specific event. “At EkaBet,an Odds Boost opportunity could be an increasing the payout…

Cytonn opens serviced apartment complex targeting business and leisure travellers.

Cysuites Apartments   Cytonn Investments has officially opened CySuites Apartment Hotel, the latest offering under its Private Equity arm. Cysuites is a serviced apartment complex with 32 two- bedroom apartments, 6 one- bedroom apartments and two penthouses that offer contemporary living and working spaces. “Our foray into Serviced Apartment Hotels is backed by thorough market research. Demand for serviced apartments continues to grow, evidenced by occupancy rates of up to 88%, according to our latest research data. Serviced apartments command very strong rental yields of about 12%, compared residential yields…

Top insurance agents awarded in annual fete

Kenindia Assurance has awarded its top performing insurance agents and brokers for the year 2018 in recognition of their contribution to the growth of the Company, at an event presided over by Insurance Regulatory Authority Chief Executive officer Godfrey Kiptum. Speaking at the award event, Kenindia Assurance Managing Director B.S. Sharma said the agents still play a critical role in the growth of the Company and the insurance industry in general. “Throughout this journey agents have been an integral part of our growth, for which we are grateful. We look forward to…

Net interests growth push Family Bank earnings to Ksh. 1.01 B

Family Bank CEO Rebecca Mbithi  speaking during the investor briefing    Family Bank has recorded a Sh1.01 billion profit before tax in the nine months of 2019, registering a remarkable 274% growth in earnings compared to the same period in 2018. Higher loan uptake, steady growth in customer deposits and growth in operating income are the key drivers of the bank’s profitability and the same continue on an upward trajectory. The performance, covering the period up to end of September 2019, is an improvement from the Sh269.9 million posted in…

Water prices set to rise by Ksh. 7 per litre

Kenyans are set for tough times ahead following the move by the taxman to impose Excisable Goods Management System (EGMS) stamp that will increase water prices by up to Ksh. 100 per 20m litre refil The Water Bottlers Association of Kenya (WBAK) pointed out that the price of bottled water is expected to increase by an average Ksh.7 per litre as the Kenya Revenue Authority (KRA) moves to implement new excise taxes on the non-alcoholic beverage from Wednesday next week. WBAK chairperson Henry Kabogo said the new excise tax will…

KQ, Safarilink launch partnership to facilitate access to 18 world famous destinations

Kenya Airways PLC (NSE: KQ) and Safarilink Aviation (F2), Kenya’s premier safari airline, have signed a one way codeshare agreement to open up Kenya to global travellers by selling Safarilink’s direct flights to the best safari and unique beach destinations within Kenya and Tanzania. This codeshare agreement means that KQ will sell 18 remote Safarilink destinations in their global sales and distribution network, enabling them to combine their travel experience between respective international destinations and 18 remote destinations within Kenya and Tanzania that Safarilink operates. READ ALSO: HOSPITALITY WINDFALL FROM OPEN SKY POLICY During…

DIB Bank in a 4.3 b expansion strategy into the Kenyan market

Kamukunji MP Yusuf Hassan Abdi cuts the ribbon to officially open the DIB Bank Kenya Eastliegh Branch. Looking on are the DIB Bank Kenya Board Director Michael Murphy and CEO Peter Makau.   Dubai Islamic Bank (DIB) is investing 4.3 billion for expansion in their business in Kenya. This comes after the bank registered a 665 million loss in their first year of operation in the country. DIB Bank Kenya, which offers exclusively Shariah Banking services, launched a new branch in Eastleigh as the bank starts to implement an expansion…

Tax agents charged for aiding tax evasion

Three tax agents were today charged at a Mombasa court for aiding two companies to fraudulently reduce their Value Added Tax (VAT). The two were charged alongside directors of the two companies. The tax agents from Ogot &Associates, together with directors of Gaab Transporters Limited and Samumu Construction Services were charged with several counts in two separate cases. They appeared before Mombasa Senior Resident Magistrate Christine Ogweno. In one of the cases, the accused persons, Mohamed Moalin Mohamed, a director of Gaab Transporters Limited as well as Wilson Ogot Owera,…

KRA wins case against Dubai firm seeking to stop collection of KShs 2.3 billion tax debts

The High Court in Nairobi has ruled in favour of KRA in a case filed by a Dubai based company seeking orders to stop KRA from collecting KShs 2.3 billion in tax debts from its affiliate company registered and operating in Kenya. Justice Pauline Nyamweya on 23rd September 2019 ruled in favour of KRA and struck out a Judicial Review filed on 28th July 2018 by   United Arab Emirates registered firm, Suzan General Trading JLT. Suzan General Trading JLT had sought among others an order to stop KRA from enforcing the warrants…