Manufacturers push for consumption of locally produced goods

Manufacturers have called on Kenyans to embrace locally produced goods to inject additional impetus into the economy’s recovery. Speaking during the official launch of the Changamka Kenya Shopping Festival, Mucai Kunyiha, Chairman of Kenya Association of Manufacturers explained that the event had been designed as part of broader efforts by the producers’ umbrella body to build confidence in the quality of their products. The festival, which will feature over 120 companies from a variety of industries, is expected to expose Kenyans to new innovations and wide selection of goods.  “We…

Smartphone Global Shipment Report Places realme Among Top 5 In 15 Regions

World-fastest growing smartphone maker, realme is among the Top 5 brands in 15 regions according to Q4 2020 Canalys global smartphone shipment report. The brand that has been making inroads in the Kenyan market by launching 6 phones as well as AIot products last year in just 4 months, has also been making global news becoming the first in the world to ship over 50 million units with Kenya being one of the major markets. According to the shipment report, realme ranked fourth and holds its position as the fastest-growing…

Sarova Hotels & Resorts Wins 2020 World Luxury Hotel Award.

Sarova Hotels and Resorts, Kenya’s first indigenous hospitality company has this year clinched top accolades at the 14th edition of the World Luxury Hotel Awards for outstanding service in the Industry. Sarova Whitesands Beach Resort & Spa clinched the best Luxury Family Beach Resort in the region while Sarova Mara Game Camp won the best Tented Safari Camp at the world’s most prestigious and exclusive awards which recognize the best facilities and service quality the hotel industry has to offer. The region’s leading Hospitality Group which is committed to hospitality…

realme C12 and realme 7i now Available in the Kenyan Market

realme has once again made good on its promise to offer the Kenyan smartphone market a comprehensive, superior, innovative experience with the launch of two brand new smartphones; the realme C12 and realme 7i. The launch of both realme C12 and realme 7i adds to a portfolio of four other realme smartphones and three AIoT products in Kenya including realme C3, realme C11, realme C15, realme 6, realme Band, Air Neo, and Buds Q. In the spirit of dare to leap, realme has always asserted its commitment to providing an…

We plan to take M-Pesa to a new level, says Safaricom CEO Peter Ndegwa.

Credits CNN In an interview with CNN’s Richard Quest, the CEO of Safaricom PLC, Peter Ndegwa, outlined how he expects M-Pesa to develop in the wake of the coronavirus pandemic. Ndegwa also states that the company is rolling out products targeted at helping small and medium-sized enterprises (SMEs) that have been worst affected by the coronavirus, saying that: “Covid-19 crisis is much more about socio-economic crisis”. Here we take a look at the key issues said by the CEO of Safaricom Peter Ndegwa. Peter Ndegwa on the future of M-Pesa: “We want…

KBA, FSD Kenya, GIT partner to promote access to people with disabilities

By Mourice Seretta The Kenya Bankers Association has partnered with the Financial Sector Deepening Trust (FSD Kenya), non-profit inABLE and Georgia Institute of Technology in a programme to promote access to financial services for Persons with Disabilities (PWDs). The initiative, whose pilot phase kicked off this month, aims to identify major accessibility challenges PWDs face while using banking service channels. The programme seeks to assess PWDs’ access challenges using the sample of seven banks. The project will be jointly funded by the banking industry and FSD Kenya. Under the partnership,…

OPPO Kenya Joins The Fight Against Covid-19 By Donating Hand Sanitizers

As the world continues to battle the fast-spreading deadly Coronavirus that has now claimed over 50,000 lives, global electronics giant OPPO Kenya has joined Kenyans in the fight against the virus by donating hand sanitizers. In a statement posted on their Twitter handle, OPPO Kenya says it has donated 1,000 liters of hand sanitizers that “will go way in aiding the efforts towards flattening the curve” of Covid-19. The government, through the Ministry of Health, has been calling on Kenyans of goodwill and well-wishers to join the fight to contain…

Keroche Tax burden

The KRA is set to collect tax of Kshs 9,116,835,985 .00 from Keroche Breweries Limited with regard to products manufactured and marketed by Keroche breweries Limited. This follows a big win by the Kenya Revenue Authority in the six (6) Appeals filed by Keroche before the Tax Appeals Tribunal in 2015 and 2017 respectively. 2.  In three of the Appeals, the contention was the manufacturing process of Vienna Ice Brand of Vodka. The brewer argued that, Vienna Ice brand of Vodka was not a distinct product from Crescent Vodka since Vienna Vodka was produced by diluting Crescent Vodka which process did not amount to manufacture. 3.  KRA relied on the Compounding of Denatured Spirits Act Cap 123 and argued that the process undertaken by Keroche Breweries was compounding within the meaning of the Act. Compounding of spirits also amounted to manufacture of new product within the definition of Customs & Excise Act, CAP 472 (now repealed). 4. In the other three appeals, the contention was with regard to classification of pineapple based wines. The Brewer had argued that what they produced was fortified wines which should be classified under HS Code 22.04 which attracted lower excise duty rate of 40%. Their position was that the classification was specific for any fortified wine. 5.   KRA’s position was that HS code 22.04 was reserved for wines based on grapes and the Keroche’s fortified wine was purely fermented pineapple as such is to be classified under HS Code 22.06 which is for any other fermented beverage. HS code 22.06 attracted a higher excise duty rate of 60%. 6.    The Tax Appeals Tribunal in its’ judgments delivered on 9th March, 2020 held that: 6.1.   Keroche Breweries Limited was involved in the compounding of spirit which amounts to manufacture within the meaning in Excise Duty Act, 2015 and Customs and Excise Act, CAP 472 (repealed)as such Vienna Ice was a distinct product for which Excise Duty was payable; 6.2.  With regard to Fortified wines produced by the Brewer, the Tribunal guided by the World Customs Organization explanatory notes on HS code found that HS code 22.04 was for grape based wines and the correct classification was HS code 22.06 as the Keroche’s wine is a mixture of fermented pineapple and alcohol. 7.  The Tribunal however faulted the Authority for levying interest and late payment penalties for the period the disputes were being litigated at the High Court and the Court of Appeal which had directed that the matters be heard at the Tax Appeals Tribunal.

Alexander Forbes clienteles wins big from Octagon services deal

A new strategic partnership has been entered into under which Octagon Africa will serve Alexander Forbes multinational clients with a presence in Kenya.  This strategic partnership comes after Alexander Forbes’ review of its strategic business and operating model in March 2019, and to exit emerging markets and strategically reposition with credible partners to deliver and support their clients operating in the specific country.   Through this strategy we have a platform to work with a network of partners while maintaining the ability to deliver excellent service and solutions to our…

GAUGING THE ECONOMIC WAVES OF CORONAVIRUS ON KENYA

The Kenya Private Sector Alliance (KEPSA), the apex body of the private sector in Kenya, this morning resolved to engage all its members to begin to calculate the projected economic impact of Coronavirus in each sector. The collated input will inform the development of a rapid response mitigation plan to minimize the impact of the outbreak on the Kenyan market. It will also allow the private sector to measure the impact of the expected global slowdown of trade on Kenya. KEPSA is encouraged by Executive Order No 2 ofhttps://www.expresstoday.co.ke/?p=2932&preview=true 2020…